Iraqi government adds more than $900 million
to Electricity Ministry’s budget
The government has added $927 million to the Electricity Ministry’s 2011 budget to start new power plants and import equipment, the ministry’s spokesman announced.
Musaib al-Mudaris said the additional sum was made available following a recommendation to the government by the parliament’s energy commission.
“The sum will be used to implement important power projects,” Mudaris said.
Electricity allocations have increased substantially, giving the ministry for the first time since 2003 billions of dollars to invest.
In 2010, electricity allocations for investment far exceeded operational expenses, which average more than $2.5 billion a year.
This year’s allocations to help the ministry complete power plants and start new ones have been the highest in the years since the 2003-U.S. invasion.
The ministry’s 2011 budget has surpassed $7 billion with the new addition.
The surge in allocations has been made possible due to latest hikes in oil prices on international markets.
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