Iraqi News Highlights Tuesday Afternoon 3-21-23
Tlm724 Administrator Bondlady’s Corner
The Decline In The Exchange Rates Of The Dollar With The Closure Of The Baghdad Stock Exchange
Economy Tuesday, March 21, 2023 5:03 PM Baghdad / National News Center The exchange rates of the dollar against the Iraqi dinar closed today, Tuesday, with a slight decrease on the main stock exchange in Baghdad. The central Kifah Stock Exchange in Baghdad recorded 156,100 Iraqi dinars for 100 dollars, while the prices this morning were 156,350 dinars for 100 dollars.
That the buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 157,000 Iraqi dinars, while the purchase prices reached 155,000 dinars for every 100 dollars. https://nnciraq.com/194900/
Rasheed Bank Issues A Directive To Its Branches Dedicated To Selling The Dollar
Economy Yesterday, 16:16 Baghdad – conscious Today, Monday, Rasheed Bank issued a directive to its branches dedicated to selling dollars.
The bank said, in a statement received by the Iraqi News Agency (INA):
“The general manager, Basem Abd Ali Youssef, directed the directors of the branches dedicated to selling the dollar to continue working and open the bank’s doors during the holiday tomorrow, Tuesday.”
The bank called on “all travelers and delegates wishing to buy dollars to review the branches during working hours.” https://www.ina.iq/181021–.html
Member Of Parliament Finance: We Have Not Seen The Budget Yet
Money and business Economy News – Baghdad A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed that his committee has not received the draft financial budget law for the years 2023, 2024 and 2025, yet.
The House of Representatives announced, last Thursday, that it had received the tripartite budget bill from the government.
“So far, the Finance Committee has not officially received the budget law, and it has not begun to study or review it,” Cougar said in an interview with “Euphrates News” agency, followed by “Al-Iqtisad News”.
He added, “The budget reached the Presidency of Parliament, but it did not reach the committee. It is not known how long it will take for approval.” https://economy-news.net/content.php?id=33040
The Council Of Ministers Decides To Grant Soft Loans To Factories
The Council of Ministers, during its tenth regular session, which was held under the chairmanship of Prime Minister Muhammad Shia’a Al-Sudani, issued several decisions.
The media office of the Prime Minister stated in a statement that “Prime Minister Muhammad Shia’a Al-Sudani chaired the tenth regular session of the Council of Ministers, which witnessed a discussion of the overall situation and developments in public affairs, and research on a number of files and basic issues, as well as following up on the implementation of previously approved decisions and procedures.” and issuance of directives thereof.
He added, “The Prime Minister and the ministers directed, at the outset of the session, best wishes and greetings to the sons of our Kurdish people and all the Iraqi people on the occasion of the Newroz holidays, hoping that the occasion will always return to our people in the Kurdistan region of Iraq and the rest of our beloved country, with goodness, prosperity and stability.”
And he continued, “The Prime Minister congratulated our Iraqi people and the entire Islamic nation, on the occasion of the approaching holy month of Ramadan, praying to the Creator to make it a month of forgiveness and mercy for our country, and that the Almighty accept all good deeds and worship.”
He added, “The council considered the files and decisions presented on its agenda and took the appropriate decisions in their regard,” pointing out that, “in the field of supporting the pharmaceutical industries, and working to localize them locally in order to raise national sufficiency rates of important medicines, the cabinet approved the recommendations of the meeting.” The meeting held on March 9, 2023 regarding the localization of the pharmaceutical industry, according to the following:
1- Maintaining the current classification, with fair distribution regardless of the classification for the national factories (ABC). The referral shall be to all national factories with uniform quantities of materials produced by them, by amending Paragraph (3) of Article Seventeen of the regulations for factories, and canceling the two paragraphs ( 4 and 5 relating to the distribution mechanism are among the controls for supplying medicines from national factories mentioned in the book of the Ministry of Planning, with the commitment of national factories to adopt high quality specifications (cGMP).
In the event that these specifications are not fully available, the factory is given a period of (12) months to comply with these specifications.
2- Releasing operating advances for contracts concluded with national pharmaceutical factories, provided that they do not exceed (50%), taking into account controls No. (17) related to the mechanism for dealing with operational advances.
3- Formation of the Drug Council (headed by the Undersecretary of the Minister of Health and membership of the Director General of the Technical Department in the Ministry of Health, the Director General of the General Company for Marketing Medicines and Medical Supplies (Kimadia), the Director General of the General Company for the Manufacturing of Medicines and Medical Supplies in Samarra, the Director General of the General Authority for Customs, and the Director General The Directorate for Combating Organized Crime, in addition to a member from the owners of the private pharmaceutical industrial sector and representatives of syndicates (doctors, dentists, and pharmacists) for the purpose of integration between the public sector represented by the Ministry of Health, and
the private sector and overcoming obstacles and overcoming obstacles. During the allocation of vast lands for the establishment of pharmaceutical factories in accordance with the Industrial Cities Law (2 of 2019) in coordination with the Industrial Cities Authority in accordance with the aforementioned law.
5- Granting soft loans to existing factories that wish to develop their production lines, while easing the terms of bank guarantees so that they are guaranteed by the factory.
6- Approving the approval letters of the Ministry of Health regarding the import of raw materials and other supplies by national factories in coordination with the Ministry of Finance (the General Authority for Customs, the General Authority for Taxes), and the General Authority for Border Crossings, and notifying the Ministry of Commerce and the General Directorate of Industrial Development of that.
7- Raising the customs tariff on imported medicines for which there is a similar product produced locally to 100% of the import price according to the National Product Protection Law through the application of the amended Iraqi National Products Law No. (11 of 2010). Local companies producing medicines can coordinate between them. And between the Directorate of Industrial Development in the Ministry of Industry and Minerals on the subject, in accordance with the aforementioned law.
And he stated, “With regard to completing the development of solutions to the file of free lecturers, the Council of Ministers approved the transfer of free and administrative lecturers for free, amounting to (14825) according to the actual need provided by the General Directorate of Education of Baghdad, the third Rusafa, according to Cabinet Resolution 315 of 2019, starting with From January 1, 2023, and with regard to the remaining (20,666) free lecturers and administrators of the total number (outside the actual need of the directorate), their distribution will be among the general directorates of education in the Baghdad governorate, or to the rest of the other ministries
. Supportive of trade unions and federations, in order for them to play their full positive role, and decided the following:
The Ministry of Finance owns the properties on which the headquarters of syndicates and federations established according to special laws are established, which were devolved to the Ministry of Finance after 2003, to the aforementioned syndicates and federations without compensation, in accordance with the Emiri Lands and Buildings Ownership Law No. (3) of 1960, provided that:
1 The absence of a plot or building at the authority requesting ownership that is suitable for the intended purpose.
- The government does not need the property or the building to be owned, according to the text of the aforementioned law for ownership of property and princely buildings.
3- The headquarters are used only for these syndicates and federations, and it is not permissible for any other purpose, or to offer them for investment or for rent.
As a complement to the measures supporting the agricultural sector, and encouraging farmers to take steps to rationalize the use of irrigation water, the Cabinet approved the recommendation of the Ministerial Council of Economy regarding the approval of postponing installments for sprinkler irrigation systems for the project of using irrigation technologies and modern mechanization.
The office confirmed, “The council discussed, in its session, the rest of the issues presented on its agenda and took the following decisions in their regard:
First: Cancellation of Paragraph (3) of Cabinet Resolution (53 of 2020), regarding the public treasury’s share of the profit, starting from January 1, 2022.” .
Second / Approval of proceeding with the development of the program submitted by the General Authority for Customs (the electronic customs declaration program) as a basis for networking between all customs centers (land, air, and sea) with the headquarters of the General Authority for Customs and the Border Crossings Authority, according to the attached paper, with an addition At the end of Paragraph Fourth, “After the approval of the Federal General Budget Draft Law,” Paragraph Fifth was deleted from the recommendations.
Third / Approval of the recommendation of the Energy Ministerial Council (8 of 2022) regarding the consensual settlement with the South Korean company (Kokaz), the operator of the Crutch gas field, according to the following:
1- Disbursement of the remainder of the consensual settlement amounts agreed upon between the Midland Oil Company and the South Korean Cogas Company; Required to be paid to the South Korean company (Kokaz); The amount is (49,000,000) dollars, only forty-nine million dollars, provided that it pays a type of crude oil (In-Kind) from the Oil Marketing Company SOMO, according to a settlement agreement that guarantees the rights of the Ministry of Oil, according to the decisions of the opinion committee in the ministry.
2- Developing a formula for a settlement agreement between the two parties, according to which the contract remains valid for one year after the date of its signing, and the South Korean company (Kokaz) undertakes, according to this agreement, to transfer all its contractual rights and obligations to a company or a consortium of international companies qualified in accordance with the standards of the Ministry of Oil;
To replace it in the development of the field in accordance with the terms of the service contract, in addition to its commitment to provide support and technical backing for the project without any other financial or contractual obligations, or that the contract be terminated after the expiration of that period without obtaining a replacement operator.
Fourth / Approval of the following:
merging the two departments (renewable energies) with (environment and water) into one department under the name (Department of Environment, Water and Renewable Energies) in the merged Ministry of Science and Technology, based on the provisions of the merged Ministry of Science and Technology Law No. (75) of 2012 .
Fifth / Approval of the recommendation of the Energy Ministerial Council (23007i) for the year 2023 related to the renewal of the contract with the Egyptian General Petroleum Corporation (EGPC) for the year 2023, with a nodal quantity of (4) million barrels of Basra medium crude oil, by two million barrels for the month of June and the same for the month of August. From 2023, under the same contractual terms as previously applicable.
Sixth / approval of the proposals of the Ministry of the Interior regarding the development of the work of the Traffic Directorate, according to the following:
1- Transferring and operating the raw traffic sign factory on the plot of land adjacent to the Traffic Directorate on the side of the highway of Muhammad Al-Qasim Road in Baghdad, which is allocated to the Ministry of the Interior, instead of the laboratories affiliated to the Ministry.
The industry and minerals that are currently being built on, provided that the staffing of the aforementioned work is transferred from the staffing of the Ministry of Industry and Minerals to the staffing of the Ministry of Interior / Traffic Directorate, which number (294) employees, provided that this does not entail any financial consequences.
2- The abolition of traffic engineering divisions and departments in each of the Ministry of Construction, Housing, Municipalities and Public Works, the Municipality of Baghdad, and municipalities in the governorates to undertake the aforementioned task of furnishing, and the creation of a directorate called the Directorate of Roads Engineering and Traffic Signs that includes the aforementioned divisions and departments and is linked to the General Traffic Directorate in the Ministry of Interior to undertake the task Mentioned in the furnishing, based on the authority vested in the Prime Minister in accordance with the provisions of the Law of Creating Administrative Formations, Merging them and Modifying their Relevancy, No. (12) for the year 2011 in order to unify specialization and organize tasks and duties within the work of this Directorate. https://www.radionawa.com/all-detail.aspx?jimare=33795
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