KTFA (Frank26, Delta & Don961)

  In Dinar Guru Updates, KTFA

DELTA: Secretary General of the Council of Ministers makes proposals to preserve the value of the Iraqi dinar, including preventing the import of cars and luxury goods

Baghdad / NINA / –

Secretary-General of the Council of Ministers Hamid Al-Ghazzi presented proposals to preserve the value of the Iraqi dinar, including preventing the import of cars and luxury goods.

The Secretary-General of the Council of Ministers Hamid Al-Ghazzi stated: “The proposals were to stop importing cars for six months and to allow the import of the previously agreed exclusively, especially since the prices of cars are fixed globally and there is no need for more cars at this stage, and stopping the import of luxury goods in coordination between the Ministries of Industry and Trade,” for a period of six months, the issuance of sovereign bonds estimated at the price of oil sold at the current price, according to which the buyer owns a specified number of barrels of oil and has the right to sell them to the state after 6 months have passed, and in this way the state withdraws the largest amount of cash liquidity.

Al-Ghazi added: “If the decision to prevent the import of luxury goods is applied, then this means preventing the import of everything that is not inside production, such as car accessories, smart phone accessories, bags, shoes, and toiletries, as well as women’s and men’s clothing, which are other goods that can be manufactured locally, which encourages the national industry.”

The Ministerial Council of Economy had taken several decisions during its last sessions after studying a set of mechanisms and solutions regarding the impact of the crisis of low oil prices on global markets on the economic and social situation of the country, in order to take the necessary measures to protect the living standard of citizens as well as find alternatives that support the state’s general budget. 


Don961:  Iraq limits the payment of salaries electronically and cancels the manual

04/25 2020 02:19:05  Shafaq News /

Rafidain Bank called on Saturday for some state departments to speed up the activation of MasterCard cards and receive the salaries of their employees for the month of April electronically and not manually.

The bank’s media office said in a statement that the bank is asking some department account managers to activate the mastercard cards for its employees that were received by the bank so that the salary for this month can be disbursed electronically.

The statement pointed out that the directors of the accounting departments of some departments should address the general administration of the bank and instruct the completion of all procedures related to the activation of the Master Card, especially in light of the conditions the country is currently experiencing as a result of the Corona virus and the need to leave manual cash and deal with the electronic system for salary payment.   LINK


Don961:  Member of Parliamentary Finance fixing the date to proceed with reducing the salaries of a group of state employees

Politics 04/24 2020 18:57 9199 Editor: ht
Baghdad today – special

The decision of the Finance Committee, Ahmed Al-Saffar, revealed on Friday (April 24, 2020), a specific date to reduce the salaries of employees due to the financial crisis in the country.

Al-Saffar told (Baghdad Today), “The decision to reduce the allocations for some Iraqi state employees has not yet been implemented, and it will enter into force if the economic and financial situation of Iraq remains as it is today.”

He added that “the targets of this decision are those with special grades, and do not target the small employee with limited salaries.”

The Parliamentary Committee on Economy and Investment had submitted, on Thursday, April 2, 2020, a number of proposals to alleviate the effects of the financial crisis in the country.

The committee said in a statement issued by it, “In view of the difficult economic conditions that our dear country is going through and the increasing challenges, most notably the low oil prices, the global recession, the corona pandemic and other accumulated economic challenges, we offer a set of proposals and initial measures that can alleviate the painful effects on our people, and the most important These procedures:

1. Reducing the salaries of those with the rank of general manager and above by (60%) and allocated to include additional numbers in the social welfare network who have no monthly income.

2- The adoption of compulsory savings in government bonds for employees whose salaries exceed three million and at 20% of their salaries and at an interest rate that is satisfied when the economic conditions of the country improve.

3. Eliminate investment expenditures in the 2020 budget and the current expenditures for non-essential doors (such as commodity and service requirements and capital expenditures), which do not include unjustified expenses in stable conditions, so how in such dangerous economic conditions.

4- Allocating a special emergency budget to cover the requirements to combat the Corona epidemic and disbursing them to operational and investment requirements in accordance with specific priorities in terms of health reality controls and standards and challenges.

5- Collect the money due and the taxes imposed on the mobile phone companies without any delay or installment.

6- Adopting strict procedures for controlling and collecting non-oil revenues, especially in border outlets, for all governorates and the region, and registering a federal revenue that is fairly distributed to all Iraqis.

7- Postponing the payment of all external debts, including Kuwait compensation.

8- Agreement with licensing tour companies to reduce unnecessary costs on the one hand and pay the dues of its current work with oil instead of cash to reduce losses to Iraq from lower oil prices.

9- Postpone the work of all economic agreements with neighboring countries or China in the foreseeable time, especially as its fields are not a priority and some of them are unfair in Iraq.

10- Obliging the region to hand over all the oil produced to the Ministry of Oil for federal marketing, and otherwise its allocations allocated in the budget are transferred to the rest of the Iraqi provinces according to the population ratio, which is a budget of approximately (15) trillion dinars.

11- The issuance of national bonds to citizens through government banks at an encouraging rate of interest that is satisfied when the economic conditions improve to finance the necessary budget with important allocations.

12- Activating anti-corruption efforts, especially its major files, to collect the huge money seized by the corrupt and reallocating them to resources and important exchange gates.

13- The region is obliged to pay the value of any quantity of oil that it sells outside the legal federal context and calculate it from within its budget.

14- Find quick, easy and transparent mechanisms for the delivery of ration card materials and social network care salaries within a week and enough to cover the need for those covered by them for at least two months.   LINK

Frank26:  4-25-20. Saturday Night Q&A: VIDEO LINK

This video is in Frank’s opinion.