Bolivia's Lower House to Vote on Correction of 15 Contracts
Bolivia's lower house will vote March 7 to approve a bill that would correct errors in 15 of the 44 contracts negotiated with oil firms as part of President Evo Morales' nationalization program, government news agency ABI reported.
Initially, state oil company YPFB had reported only 10 contracts had minimal errors that required revision, but an "exhaustive revision" showed there were actually 15 contracts with mistakes, a spokesperson from the hydrocarbons ministry told BNamericas.
Following approval of the 15 contracts by the upper house, all 44 contracts will have to pass through both houses again before coming into effect, the spokesperson said.
The bills are expected to pass easily through the lower house, where Morales' party MAS has a majority, although they could face more opposition in the upper house.
However, hydrocarbons minister Carlos Villegas still aims for the contracts to take effect by March 15 as announced mid-February.
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