TEHRAN – Government’s withdrawal from Oil Stabilization Fund (OSF) has witnessed a 355% jump in the first quarter of the year (March 21 to July 22, 2006) compared to the same period in the previous year. An independent bill is to curb such withdrawals, member of the Budget and Planning Committee of Majlis noted on Sunday.

“The Fourth Development Plan allows for such dealings in forms of fiscal budget bills; nevertheless, numerous bills in this regard have been introduced to the parliament under the pretext of the plan’s First Clause,” Morteza Tamaddon added, calling for a reform bill to amend the clause.

“Yet, this matter is in violation of Directive 223 of Majlis and the very clause itself,” he stipulated, asserting the amendment will permit using the fund under the fiscal and amended budget bills only.