Parliamentary suggestion that Basra be designated as Iraq’s economic capital
The Iraqi southern city of Basra. Photo: Iraq-business news
Baghdad (IraqiNews.com) – The Parliamentary Oil, Gas and Natural Resources Committee recommended on Tuesday the enforcement of the law considering the city of Basra the economic capital of Iraq, according to the Iraqi News Agency (INA).
Committee member, Zainab Juma Al-Moussawi, told INA that the law considering Basra the economic capital of Iraq, was voted on by the Iraqi Parliament in 2017 after a political debate continued since 2010, indicating that the law has not been enforced yet.
Al-Moussawi explained that the enforcement of the law will make a comprehensive developmental and economic revolution, raise the standard of living for the citizens of Basra, and allow the economic and human resources of the city to be optimally utilized, INA mentioned.
Al-Moussawi added that the law will contribute to the development of infrastructure and the expansion of ports in line with the strategic location of the governorate, INA reported.
Al-Moussawi also emphasized that Basra suffers from financial marginalization and administrative exclusion, elaborating that the governorate’s arrears from oil revenues and border crossings, which the central government should pay, are estimated at trillions of dinars.