SANA'A May 19. 2024 (Saba) - The parliament heard in its session held on Sunday, under the chairmanship of the Speaker of the Council, Brother Yahya Ali Al-Ra'i, from the Minister of Oil and Minerals, Engineer Ahmed Abdullah Daris, the explanatory memorandum of the draft law establishing the National Mining Company.
In the memorandum, the Minister of Oil pointed to the importance of establishing a national company specialized in the field of mining to keep pace with the developments reached by the world in this field, and to advance Yemen by extracting its riches.
He stressed the importance of harnessing the revenues of these resources to improve the livelihood of the Yemeni citizen, provide services and support areas of development, as it comes within the orientations and interests of the revolutionary and political leadership.
The memorandum pointed out that the preparation of the draft law and its study with the concerned authorities was carried out according to practical and modern foundations that meet the requirements of the Yemeni reality.
The draft law consists of (5) chapters distributed over (39) articles, and the first and second chapters contained the name, definitions, the purpose of establishment, purposes and powers, while the third chapter included what is related to the company's capital and financial system, and the fourth and fifth chapters dealt with the company's management, and final provisions.
The Council approved the referral of the draft law with its explanatory memorandum to the Finance and Oil and Mineral Resources Committees, in the presence of the Chairman of the Justice and Endowments Committee, Abdullah Hassan Khairat, and specialists and concerned in the relevant authorities, and to provide the Council with the results of this.
E.M
resource : Saba