YEMEN Press Agency

Parliament approves to refer draft law of oil derivatives trade to constitutional, legal committee

SANAA, Sept.19 (YPA) – The House of Representatives approved during its session on Saturday chaired by Speaker Yahya Ali Al-Ra’i to refer the draft law on the liberalization of oil derivatives and controls on organization and rehabilitation of the activity of oil derivatives trade.

The explanatory note submitted by council member Abdo Mohamed Besher to the Constitutional and Legal Committee for their study and opinion on them to the Council.

The four-chapter bill aims to create competition, regulate the trade in the import of petroleum products and control their prices on the basis of free trade, competition and local distribution.