Almotamar.net, Saba - The Cabinet approved on Tuesday during its weekly meeting headed by Premier Ali Mujawar the draft republican decree establishing a national stock board and ordered to finalize legal procedure for issuing the decree.

The board will prepare the investment climate for investing deposits and funds at the stock market as well as finalizing the legal and organizational procedure and law of the stock market.

The Cabinet also okayed the draft republican decree on the bylaw to address land ownership claims in the governorates and ordered to finalize all legal procedure to issue it, as it continued discussing the draft laws on public cleanliness and environment health and cleanliness funds and environment health.

A ministerial panel led by Deputy Prime Minister for Defense and Security Affairs, Minister of Local Administration, was formed to review the draft laws in the light of comments presented by ministers and report to the Cabinet on reached outcomes.

Moreover, it approved the final accounts of the state budget and its draft laws as well as the final accounts of the public and mixed sectors' units for 2009.

The draft decision for distributing the central support and public resources, about YER 23.4 billion, for 2011 on administrative units of the local authorities was approved as well.

The Cabinet ordered to stick to the agreed standards during the distribution process to ensure the maximum benefit of the funds and achieve local development.

The report of the Ministry of Planning and International Cooperation on the outcomes of the 10th session of the Yemeni-Syrian High Committee held early this month in Sana'a was approved and the report of the Legal Affairs Ministry including all laws and executive bylaws since 1990 up to 2010 was reviewed.

The concerned ministries were ordered to prepare and review the executive bylaws of laws that have not been issued yet on condition the ministry prepares a timetable for accomplishing the review process at ministry and other concerned authorities level.

The meeting also reviewed the weekly report of the Civil Service and Insurance Ministry on the functional discipline during 14-20 Ramadan urging to enforce laws concerning absence and negligence.

It discussed initial information about human and material losses caused by floods in Hodeida Province.

A panel was formed from the concerned ministries and the provincial government to count the losses and report to the Cabinet on them as soon as possible to bring suitable solutions.