Iraqi News Highlights Friday Evening 3-24-23
Tlm724 Administrator Bondlady’s Corner
Economist: The Dry Canal Project Will Bring Iraq Large Financial Returns Comparable To The Suez Canal
March 23 11:49 Economist: The dry canal project will bring Iraq large financial returns comparable to the Suez Canal Information / Baghdad .. Economic expert Nabil Al-Ali confirmed, on Thursday, that the
Sudanese government’s move to establish the dry canal from Basra to Turkey and to Western Europe as well as to Iraq to Iran and Azerbaijan and then to Eastern Europe will achieve large financial returns for Iraq that may match the imports of the Suez Canal.
Al-Ali said in a statement to Al-Maalouma that “the dry canal project announced by Prime Minister Muhammad Shia’a Al-Sudani is strategic for Iraq and the countries of the region, especially Iran and Turkey, to transport goods and energy to and from northern Europe to the Gulf and Asia and vice versa.”
He added that “the establishment of the canal makes Iraq free for the passage of goods and energy through railways and land roads through trucks, as well as extending oil and gas pipelines without exposing it to foreign investment,” noting that
“Italian companies and others from international countries will begin to develop plans to establish railways from Basra.” To Turkey, as well as to Iraq, to Iran, to Azerbaijan, and then to Eastern Europe.
And the Sudanese Prime Minister, Muhammad Shia’a, revealed during a press conference that he gathered with the President of the Turkish Republic, Recep Tayyip Erdogan, yesterday, Tuesday, about the establishment of the dry canal,
pointing out that the dry canal project will link the east with the west, and it will be a global corridor for the transport of goods and energy, while he directed the “countries of the region to meet In the capital, Baghdad, to discuss the vital development canal project. Ended / 25 pm
https://almaalomah.me/news/economy/اقتصادي-:-مشروع-القناة-الجافة-سيحقق-للعراق-مردودات-مالية-كبي
A New Plan To Increase Domestic Production And Export The Surplus Outside Iraq
Mar 23 13:17 1 shares Information/Baghdad… Today, Thursday, the Ministry of Agriculture revealed its plan to increase the domestic product of agricultural products and export the surplus abroad, while noting that the current year’s budget will include the presence of the soft loan fund.
The Undersecretary of the Ministry, Mahdi Sahar, said in an interview followed by Al-Maalouma Agency, that “the government’s directives to support the agricultural sector within the government program include facilitating the procedures for providing loans to adopt the modern irrigation canal, the candidate for fixed and pivotal irrigation systems, and providing loans to them without interest, in addition to allowing the import of the private sector.”
For modern irrigation systems from abroad, without any customs duties, and facilitating procedures for their entry into Iraq.
He pointed out, “The 2023 budget includes the presence of the
Concessional Agricultural Lending Fund, which provides loans to farmers in order to
facilitate the process of operating small and medium enterprises,
advance the production process, and
finance the establishment or restart of projects,” pointing out,
“The Ministry of Agriculture called for the reactivation of the agricultural initiative.”
And launching it again, as it provided financial cover and liquidity for agricultural investors, by establishing and operating projects, and
there will be a priority in adopting modern irrigation techniques through fixed and pivotal irrigation systems to face water scarcity and climate changes.
And he added, “Within the food industry lending funds, it will have a role in withdrawing surplus agricultural production.
The establishment of refrigerated and frozen warehouses in all governorates of Iraq will have priority in the investment process and also in providing loans for these projects, and then livestock projects with poultry and fish, in addition to fattening.”
Calves and vegetable production projects, especially protected agriculture, which will have a financial allocation within the loans, focusing on protected agriculture, which relies on modern irrigation systems and solar energy.
He continued, “There will be loans for farmers and investors to acquire solar energy systems to operate their projects and operate modern systems, and this will be a great opportunity for the agricultural sector, and will contribute to increasing the gross domestic product and exporting surpluses for agricultural products abroad.”
He pointed out, “The winter agricultural plan includes supplying farmers with Dab fertilizers at a rate of 30 kilograms per dunam and urea at 40 kilograms per dunam.”
Urea and Dab fertilizers without import licenses facilitated or reduced production costs for importers, and thus fertilizer prices began to decline.
Sahar confirmed that ” the agricultural plan for farmers was fully covered by agricultural equipment and at prices subsidized by the Ministry,” noting that
“the Ministry of Agriculture continues to receive DAB fertilizers and urea to be presented to farmers within the summer cultivation plans and for the lands covered.” Ended / 25 s
https://almaalomah.me/news/economy/خطة-جديدة-لزيادة-الإنتاج-المحلي-وتصدير-الفائض-خارج-العراق
Sudanese Advisor Recommends The Formation Of A Consumer Protection Council To Deter Price Manipulators
Economy| 07:30 – 03/24/2023 Baghdad – Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that accelerating the distribution of food baskets at subsidized prices by the government will contribute to the stability of the market, while he recommended the formation of a Consumer Protection Council to deter manipulators.
Saleh said to the official agency, followed by Mawazine News, that “consumer protection in Iraq remains a source of social, economic and health movement, and a consumer culture that enjoys the official and popular importance that came with the Consumer Protection Law No. 1 of 2010, which went to lofty goals, including ensuring basic consumer rights And protecting it from illegal practices that lead to harm,
in addition to raising the level of consumer awareness and preventing any action that violates the rules of importing, producing or marketing commodities, detracting from their benefits, or leading to misleading the consumer.
He added, “The unjustified price hikes we are witnessing these days intersect with the ethics of Consumer Protection Law No. 1 of 2010 and its obligations,” noting that “there are exploitative phenomena practiced by some of the commercial community, particularly in seasons of high family demand for foodstuffs to meet the requirements of the month.” Ramadan.”
He pointed out, “The wave of seasonal demand for food commodities is described as a category of commodity demand for necessities, and it is a rigid, inflexible demand that is achieved even if the prices of the required commodities rise,” pointing out, “that”
Saleh pointed out, “The rapid distribution of food baskets at prices subsidized by the state will undoubtedly constitute a large additional supply of foodstuffs, and at the same time the very low prices of baskets will be the price equivalent in calming prices and the immediate return of the market to stability in the coming days.”
Saleh stressed the need to start applying and activating the provisions of Article 4 of the Consumer Protection Law, which requires the formation of the Consumer Protection Council, which will proceed to assume its procedural tasks in terms of setting policies and work programs that guarantee consumer protection and rights and organizing them, and work to raise the level of consumer awareness, as well as legal issues.
And disciplinary protection for consumers, such as receiving complaints, investigating them, making appropriate decisions and recommendations in their regard, and issuing a warning to the violator that the violation must be removed within (7) days from the date of notification or filing a lawsuit in the event of the continuation of the violation. inspection”. https://www.mawazin.net/Details.aspx?jimare=222752
Oil Prices Fell After An American Announcement
Friday 24 March 2023 09:10 | Economical Number of readings: 551 Baghdad / NINA / – Oil prices fell today, Friday, continuing the losses of the previous day, due to fears of a possible glut in supply, after US Energy Secretary Jennifer Granholm said that refilling the US strategic oil reserves may take years.
And by 0039 GMT, Brent crude futures fell 48 cents, or 0.6 percent, to $ 75.43 a barrel, and West Texas Intermediate crude futures fell 52 cents, or 0.7 percent, to $ 69.44 a barrel.
The two benchmarks are still on track to record weekly gains ranging between three and four percent, recovering from the largest weekly decline in months last week due to the banking sector crisis and fears of a possible recession.
Granholm told members of the House of Representatives on Thursday that it would be difficult to take advantage of lower oil prices this year. Sales directed by President Joe Biden last year pushed oil stocks to their lowest levels since 1983.
And the White House announced in October that it would buy back oil for the Strategic Petroleum Reserve when prices were in the $67-$72 per barrel range or lower./ End
https://ninanews.com/Website/News/Details?key=1042403
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