By Rajive Singh
DUBAI: A draft federal law on the trading of oil products, was discussed on Sunday by the Federal National Council (FNC) Technical Affairs, Energy and Mineral Resources Committee.
The trading, storing or transferring of oil products require organisational procedures due to their effects on safety, the environment and the economy.
Therefore, the government suggested the creation of a draft law to combat the unlicensed selling and shifting of oil products, in co-operation and co-ordination with local and federal authorities.
Faisal Hareb Al Dhabahi, the committee’s co-ordinator, said that the draft federal law consists of 22 articles and aims to protect the nation’s economy, and national companies that trade in oil products from competition with unlicensed distributors, the safety and security of roads and facilities, as well as land and maritime environments from pollution, and to establish a federal database that includes all the authorities that trade in oil products.
The meeting was presided over by Mohammed Ali Al Kamali.
He stressed that the committee plans to meet with government authorities and representatives from several sectors to discuss their suggestions, as well as public trends and plans, said Wam.