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More Iraqi News Saturday PM 11-7-20

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Parliament raises its session to next Monday

Political  Saturday 7 November 2020 | 05:50 pm| Views: 18  The House of Representatives voted in its nineteenth session, which was held under the chairmanship of Muhammad al-Halbousi, Speaker of Parliament, today, Saturday 7/11/2020, and in the presence of 182 deputies, two laws, and ended the reading of five laws, including the law on financing the deficit.

At the beginning of the session, Representative Mona Al-Amiri read a statement denouncing the criminal attack that affected a number of women and a security associate in Diyala governorate and led to the death of five citizens, including an 85-year-old woman, demanding the arrest of the perpetrators and their judicial punishment, activating the intelligence effort in the region and increasing the security level in it. .

For his part, Al-Halbousi, in the name of Parliament, denounced all criminal acts that affect citizens in a number of governorates, including Diyala Governorate, calling on the security forces to intensify their efforts in preserving the lives and safety of citizens, directing the Security and Defense Committees, the Mirror, Family and Childhood, and the gathering of parliamentarians to visit the families of the victims in Diyala and see On the causes of the accident .

The council read Surat Al-Fatiha as a mercy for the souls of all the martyrs of Iraq .

The Council requested the vote on the draft law ratifying the agreement to accelerate cooperation in the economic field and energy affairs between the government of the Republic of Iraq and the government of the Republic of South Korea, submitted by the committees on foreign relations, oil, energy, natural resources, economics and investment until it is studied by the members of the Council .

The Council voted on the draft law on the accession of the Republic of Iraq to the Second Protocol to the Hague Convention of 1954 on the protection of cultural property in the event of armed conflict, submitted by the Committees on Foreign Relations, Culture, Tourism and Antiquities to enhance the protection of cultural property in the event of armed conflict and for the purpose of protection over movable cultural property by strengthening legal protection And criminalizing the people who commit it .

The Council requested the draft law ratifying the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration submitted by the Foreign Relations Committee until the opinion of the relevant committees is taken .

The Council also postponed the vote on the proposal of the Law of the First Amendment to the Law of the Judicial Supervision Authority No. (29) for the year 2016 submitted by the Legal Committee until the proposal matures .

The Council voted on the draft law on joining the Republic of Iraq to the AIIB’s infrastructure agreement submitted by the Foreign Relations, Economy and Investment Committees, in order to build and rehabilitate infrastructure in Iraq and diversify its sources of financing .

In another context, a number of women and gentlemen demanded that the relevant parliamentary committees adopt a financial reform vision to avoid throwing Iraq into heavy debts as a result of the internal and external borrowing that the government adopts to finance the financial deficit .

For his part, Al-Halbousi stressed the need to support the government in its measures of reforms at all levels and strengthening the foundations of the economy, calling on the government to take preventive measures to address the decline in global oil prices and the Finance, Economy and Investment Committees to provide the necessary requirements to achieve the desired reform in the best interest of the country .

During the session chaired by Mr. Hassan Al-Kaabi, First Vice President of the Council, the Council ended the reading of a report and discussion of the draft law on financing the fiscal deficit submitted by the Financial Committee .

The Finance Committee expressed its reservation not to submit the draft federal budget law for the year 2020 and the existence of a clear exaggeration in the estimates of the amount of borrowing, calling for reducing all items of expenditures and limiting them to the necessary priorities and supporting investment projects according to disbursement mechanisms that depend on fairness in distribution, stressing the need to pursue a wise policy for debt management The year in coordination with the monetary policy and controlling the revenues of the lost customs ports and the automation of customs and tax collection, as well as the collection of debts owed by telecommunications companies and institutions operating in Iraq, indicating that the deficit in the draft law amounted to (41.6) trillion dinars, i.e

Representatives’ interventions regarding the draft law focused on the need for the council to review the financial data from the central bank and clarification from the government to know the source of borrowing, its mechanisms and its impact on the Iraqi reserve, in addition to legal objection to voting procedures on the draft law on financing the fiscal deficit .

The interventions during the session, partly headed by Bashir Haddad, demanded a serious discussion of the financial crisis with the government, as it threatens to cause a financial collapse with negative repercussions on society, and the call for adding job grades for those dismissed from the Ministry of Interior in Nineveh Governorate and disbursing farmers’ dues, and asking the government to develop a plan for austerity and reduce Excessive ministries and control over border crossings to address the current financial crisis .

For its part, the concerned committee affirmed that taking into consideration all the valuable comments and proposals submitted by the ladies and gentlemen, and including them in the draft law before voting on it .

In the same regard, the Council completed the reading of a report and discussion of the draft law ratifying the agreement to avoid double taxation and prevent financial evasion with regard to taxes on income and capital between the government of the Republic of Iraq and the government of the State of Kuwait submitted by the Foreign Relations Committee .

The Council completed the reading of the report and discussion of the draft law on the accession of the Republic of Iraq to the Convention on the Recognition and Implementation of Foreign Arbitration Decisions (New York 1958) submitted by the Foreign Relations and Legal Committees .

The Council completed the reading of the report and the discussion of the draft law abolishing Law No. (127) for the year 1981, the Ratification Law of the Arab Labor Convention No. (10) for the year 1979 regarding paid study leave and the Arab Recommendation No. (3) for the year 1979 attached to it and submitted by the Foreign Relations Committee .

The Council concluded reading the report and discussion of the draft law on the accession of the Republic of Iraq to the International Convention on Oil Pollution Preparedness, Response and Cooperation (OPRC90) of 1990 submitted by the Foreign Relations Committee .  After that, it was decided to adjourn the session to next Monday 9/11/2020 .

The Finance Ministry Reduces The Borrowing Ratio To 31 Trillion, From 41

Editing date: 7/11/2020 15:14 • 101 times read   [Baghdad-Where]    The Parliamentary Finance Committee announced, on Saturday, that the Ministry of Finance reduced the borrowing rate to 21 trillion Iraqi dinars, after it was 41 trillion.

Committee member Ahmed Mazhar Al-Jubouri said, “His committee has conducted several consultations with the Ministry of Finance to discuss the financing of the fiscal deficit (borrowing) law, pointing out that” the ministry reduced the borrowing ratio to 21 trillion after it was 41 and this is a clear indication that the amount of 41 was exaggerated. .

“the committee emphasizes the reduction ratio and scaled , ” likely not to vote on the law during the two sessions Monday or Tuesday. ”

Al-Jubouri expected “passing the law during next Thursday’s session,” pointing out that “the government needs 6 to 7 trillion dinars to cover salaries.”

For its part, the Parliamentary Finance Committee indicated that “it has documented information and data that the amount of borrowing is exaggerated compared to the disbursement of the previous months, as well as by hosting officials in the Ministry of Finance and knowing the data before it.”

She added that she is “keen to pass the borrowing law in a manner that guarantees the disbursement of salaries of employees and retirees, the social protection network and other expenditures, and the implementation of financial and economic reforms by the government.

The leader of the Sadrist movement, Muqtada al-Sadr, warned today, Saturday, against internal and external financial borrowing to fill the deficit in the general budget, and for the sake of He paid the salaries that the federal government had failed to pay on time during the past months, as well as presented a number of points that he considered alternatives to avoid borrowing.

Salam Al-Shammari: Iraq Is An Inexhaustible Gold Mine. It Needs Honest Hands And Specialists To Build And Develop It

Saturday 07, November 2020 13:13 | Economical Views: 133  Baghdad / The head of the Parliamentary Committee on Agriculture, Water, and Marshlands, Salam Al-Shammari, affirmed that the development of the various sectors in the country, especially the agricultural sector, is in need of specialists, away from favoritism.

He said in a press statement that the vast areas of non-reclaimed land must be invested and distributed to specialists, especially agricultural engineers, to increase the cultivated areas and increase self-sufficiency.

Al-Shammari added that: Iraq is an inexhaustible gold mine, and it needs specialists to build and develop it and keep the corrupt and emergency from any project that contributes to increasing its revenues.

Al-Sadr’s observation in this regard promised a road map to a promising agricultural reality and future through increasing reclaimed lands and employing engineers and specialists working hands.

Al-Sadr had called for the development of agricultural work in Iraq by distributing lands to specialists to cultivate them and take shares from them. Therefore, other benefits are not hidden. / End 8

An Economist To NINA: $ 80 Million Is Burned In The Air Every Day As A Result Of Not Investing In Gas

Saturday 07, November 2020 12:02 | Economical Views: 255  Baghdad / NINA / An expert in economic affairs, Safwan Qusay, confirmed that Iraq is burning 80 million dollars daily in the air as a result of not investing the gas associated with oil extraction operations, calling for the importance of gas investment and converting it into financial revenues that can bridge Kuwait’s debts on Iraq and finance the budget deficit.

Qusay said in a statement to the Iraqi National News Agency ( NINA ) that “Iraq is going through the process of investing associated gas and liquefied gas, indicating that there is a reserve of 112 billion cubic meters of areas not extracted from gas, meaning that it can enter the gas industry process.”

He pointed out that “Iraq’s reserves amounted to 11 globally, and there are unexplored areas at the level of Anbar Governorate. The process of enhancing Iraq’s financial revenues is one of the government’s priority and it should invest gas instead of burning it in the air.”

He stressed that “more than 80 million dollars are burned daily from this gas as a result of not investing it and burning it with the process of extracting oil.”

He continued, “The gas investment will contribute to filling Kuwait’s debts on Iraq, the debt resulting from the Gulf War, and thus we avoid the budget process of financing Kuwait’s debts, and we need these funds.”

Prime Minister Mustafa Al-Kazemi inaugurated, last week, the largest local tower to produce gas associated with oil extraction, from the giant crude fields in the south of the country, with a capacity of 400 million standard cubic feet per day.

According to the latest statistics of the Ministry of Oil, the associated gas production throughout Iraq for the month of September reached 2.319 billion standard cubic feet per day, while the amount burned amounted to 1.150 billion standard cubic feet per day.

It is estimated that Iraq has a stockpile of 112 trillion cubic feet of gas; Iraq is ranked eleventh among the countries in the world rich in natural gas, according to official data.

Low Exchange Rates Of The Dollar In The Iraqi Market

Pratha News Agency105 2020-11-07   The exchange rates of the dollar decreased in the main stock markets and local markets on Saturday (November 7, 2020).

The Kifah Stock Exchange recorded 124,900 dinars against 100 US dollars, while the exchange rate of the dollar last Thursday recorded 125,100 dinars per 100 dollars.

As for the exchange rate rates in the local markets, they were:

Sales price: 125,500 dinars per $ 100.  Purchase price: 124,500 dinars per $ 100.

The exchange rates in Basra Governorate were recorded at 125,050 dinars per 100 dollars.

While the exchange rates in Erbil governorate were recorded at 125,250 dinars per 100 dollars.

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