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Parliamentary Finance: loans are deferred and tax revenue is not desirable[/size]

22/12/2015 10:45 |   [rtl]Press direction / special[/rtl]

[rtl] MP from the parliamentary Finance Committee Hama Ahmed said on Tuesday that the issue of loans is tax deferred revenue and undesirable paid by future generations and has financial implications are reflected on the country’s politics, as he emphasized that the loans become a haven for the Iraqi government because of the large deficit in the general budget.[/rtl]

[rtl]Hama said in an interview with “direction Press” stressed that this financial implications be followed by political consequences, and in the case of loans did not invest successfully, it would be a disaster for biting the state, noting that cover the budget deficit through World Bank loans have become a haven for the Iraqi government to the lack of any secondary revenue,[/rtl]

[rtl]He added that specific House of Representatives the power on the distribution of the share of the budget on important projects and limited his work to reduce costs and process transfers between the sections of exchange and ask some important recommendations about the mechanism of the financial exchange, stressing that any party granted loans impose certain conditions on the biting States are due Altnivha and application to achieve loan.           http://aletejahtv.org/index.php/permalink/91981.html[/rtl]

 [tlm724] MP from the parliamentary Finance Committee Hama Ahmed said on Tuesday that the issue of loans is tax deferred revenue and undesirable paid by future generations and has financial implications are reflected on the country’s politics

[tlm724] he emphasized that the loans become a haven for the Iraqi government because of the large deficit in the general budget

[tlm724] noting that cover the budget deficit through World Bank loans have become a haven for the Iraqi government to the lack of any secondary revenue

[tlm724] kinda like another buy out for Iraq, in the past these loans would be given and Iraq would never do anything to help themselves ie: grow the private industry etc… to make money

[tlm724] but this time is different, the IMF is in charge of the economy so that these loans won’t be needed down the road

[tlm724] stressing that any party granted loans impose certain conditions on the biting States are due Altnivha and application to achieve loan.

[tlm724] yep conditional loans ! That’s what we want to see, force Iraq to do the right thing

http://www.bondladyscorner.com/t159066-parliamentary-finance-loans-are-deferred-and-tax-revenue-is-not-desirable

Samawa Cement plant). Jpeg

General Company for Cement reduce the sales price of the agents undertake to “fill the market need.”

Author: AB, HH    Editor: AB, HH 2015/12/22 12:22

Long-Presse / Baghdad    State Company for Iraqi cement of the Ministry of Industry and Minerals announced that, on Tuesday, a reduction of the sale price of agents of the cement product in cement Kirkuk plant, and as pointed out that the decision was made to coincide with the Council of Ministers’ decision to stop importing commercial cement of all kinds, has pledged to fill the domestic market need of substance cement for the remainder of 2015 and 2016.

The general director of the General Company for Cement Nasir Idris Mahdi civil in a statement received (range Press), a copy of it, that “the company reduced its sales agents price of cement product in cement Kirkuk plant ordinary cement (Portland) with high quality and the corresponding Iraqi specifications as tests of the Central Agency for Standardization and quality control and certificates of international inspection. ”

He civil, that “the reduction of cement prices came to coincide with the Council of Ministers Resolution No. (409) in 08.12.2015 Judge activate the previous decision of the Council of Ministers No. (215) for the year 2013, containing the recommendation of the Committee on Economic Affairs to stop import of commercial cement of all kinds, ‘

and also in response major campaign launched by the Minister of Industry and Minerals to support the national product under the slogan (our industry identity security and lasting stability). ”

He revealed civil, for “a committee qualitative emphasis Cement meeting for the first time with the Cement Manufacturers Association in Iraq at the headquarters of the Ministry of Construction and Housing and the presence of Undersecretary brocade thorns supervisor of the Commission and members of the quality assurance and the members of the Cement Manufacturers Association.”

He noted civil, that “the meeting offer guidance and Minister of Industry and Minerals in which he guided during his meeting with the Committee on specific emphasis to cement the need for coordination between the cement manufacturers to carry out an information campaign large to promote the product the national cement in the satellite being of high quality.”

He pledged civil, in his capacity as president of the Association of cement manufacturers in Iraq “to ensure the domestic market to fill a need for cement material for the remainder of 2015 and 2016 and to maintain the stability of cement prices.”

The Ministry of Industry and Minerals opened, in (13 December 2015), the production of filters for gas power plants, plant, and as decided to ban the import of cement material of all types, called cement manufacturers in Iraq, private sectors and the general obligation constant prices, pledging to processing all orders and prices cheaper than imported .

The State Company for Iraqi Cement is one of the oldest companies on the local and regional levels in the cement industry and holds a trust certificates from the field prior to construction, contractors and corporate citizens. LINK  

 [tlm724] a reduction of the sale price of agents of the cement product in cement Kirkuk plant

[tlm724] decision was made to coincide with the Council of Ministers’ decision to stop importing commercial cement of all kinds,

[tlm724] *hallelujah*

[tlm724] the Council of Ministers No. (215) for the year 2013, containing the recommendation of the Committee on Economic Affairs to stop import of commercial cement of all kinds, and also in response major campaign launched by the Minister of Industry and Minerals to support the national product under the slogan (our industry identity security and lasting stability).

[tlm724] also in response major campaign launched by the Minister of Industry and Minerals to support the national product under the slogan (our industry identity security and lasting stability).

[tlm724] on that is awesome news ! Iraq has making the transition to a free market  Wink

[tlm724] The Ministry of Industry and Minerals opened, in (13 December 2015), the production of filters for gas power plants, plant, and as decided to ban the import of cement material of all types, called cement manufacturers in Iraq, private sectors and the general obligation constant prices, pledging to processing all orders and prices cheaper than imported

[tlm724] pledging to processing all orders and prices cheaper than imported

[tlm724] tis a beautiful thing

http://www.bondladyscorner.com/t159069-general-company-for-cement-reduce-the-sales-price-of-the-agents-undertake-to-fill-the-market-need
~~~~~~

Central Bank denies the devaluation of the Iraqi dinar against the dollar

12/22/2015 09:11  —  Tomorrow Press / Baghdad: denied the Iraqi Central Bank, on Tuesday, what some of the media about the devaluation of the Iraqi dinar against the dollar. According to a statement of the bank received “tomorrow Press”, a copy of it, that “the news reported by some media, and that talk about the central bank to reduce the value of the Iraqi dinar against the dollar baseless.

“The statement added that” the sale price of the dollar in the Iraqi market fixed and there was no change in prices happen. “and picked up some of the media earlier, Anabaa meet the central bank reduced the value of the dinar Iraqi against the dollar.  LINK 

 [tlm724] According to a statement of the bank received “tomorrow Press”, a copy of it, that “the news reported by some media, and that talk about the central bank to reduce the value of the Iraqi dinar against the dollar baseless.

[tlm724] ok BUT we know they are charging more dinars (1182) to the banks and brokers for the dollar, the CBI is making more money on the auctions, just saying ….

[tlm724] heres what Dogz posted yesterday from the CBI

Currency Auction Results Announcement No. (3099) Offers have been the opening of the sale and purchase of foreign currency daily three thousand and ninety-nine window in the Iraqi Central Bank on Monday to brief summary of 12.21.2015 and the results were as follows: Details Comments The number of banks 24 Number of remittance companies 20 Price foundation on which the successful bidder, selling dinars / USD 1182

The price at which the successful bidder, Hraoua dinars / USD —– The amount sold by the bank at the auction – dollars 151 220 556 The amount purchased by the bank at the auction – dollars —– Total Buy Offers – dollars 151 220 556 Total sales – dollars Offers —-

1. the quantity sold to banks from the date of 01.04.2015 until 12.21.2015 (43,323,898,016) dollars.

2. quantity sold to banks from the date of 01.04.2014 until 12.21.2014 (50,292,917,000) dollars.

3. note “that: Sarabie amounts transferred to accounts in banks abroad (1187) dinars per dollar. Cash sales price (1190) dollars Danarlkl.

[tlm724] The number of banks 24 Number of remittance companies 20 Price foundation on which the successful bidder, selling dinars / USD 1182

[tlm724] 3. note “that: Sarabie amounts transferred to accounts in banks abroad (1187) dinars per dollar. Cash sales price (1190) dollars Danarlkl.

[tlm724] so maybe the OFFICIAL rate hasn’t changed but the sell rate sure did

Thank you therealbubbie for this ! Note credit to Dinar Alert for translation of the PDF :

To  / all licensed banks  and  licensed money transfer all companies  and  financial investment companies  and  broker the buying and selling of foreign currencies approved all companies (foreign exchange rate)
12/20/2015

http://www.cbi.iq/documents/Announceme-20-12-2015.pdf

From our translator…

To all licensed banks
To all Licensed remittance companies
Financial investment companies

To all the sale and purchase of foreign currency licensed Brokering companies
Foreign currency exchange rate

Best regards from the CBI

We would like to inform you that the exchange rate by international standards is still under study and we will inform you about the results as soon as we done knowing that was changing the base rate of the US dollar against the Iraqi dinar before this to 1182 Dinners per dollar .

http://www.bondladyscorner.com/t159071-central-bank-denies-the-devaluation-of-the-iraqi-dinar-against-the-dollar

The need to contribute to the stock market in GDP

12/22/2015 0:00    BAGHDAD – Mostafa Hashemi  welcomed the Iraqi Institute adviser for economic reform, Dr. Ahmed al-Husseini to adopt the conference aims to introduce investment opportunities in Iraq Stock Exchange, describing the move as a good omen for the opening of the stock market to the world.

The Company announced (Frentinor Aksjnj Frontier Exchange recently) all held a conference for global stock markets in London for the period of December 20-21 2016 with the aim definition of listed companies in Iraq Stock Exchange through presentations that will present to encourage foreign companies to invest and to enter the local market and the advancement of the Iraqi economy.

The Husseini in a statement »Sabah»: that Iraq’s contribution to such quality conferences enhance the prestige of the country economically and commercially on the international level, noting that this conference will give a good impression to foreign investors what is going on in Iraq Stock Exchange and the movement of trading in it and the nature of the stock market.

He pointed to the need to have Iraq Stock Exchange this contribution clear in the gross domestic product of the country and to make transactions and transactions conducted by a real investment must play in addition to the gross domestic product, and not limited to being just speculation.

He noted that the market is still in the evolutionary stage weak and contribution in the formation of the gross domestic product of the fact that effective mechanisms and tools for the development of indirect investment are not available in Iraq. He said al-Husseini said a very important stabilizing factor on the subject of investment is direct, especially foreign ones.

According to the Exchange, the Frontier company scheduled the participation of more than 50 global companies from various Arab and foreign countries and types of areas to promote and support the financial their markets in addition to the experts, economists and journalists interested in the economy and investment in region.

The Iraq Stock Exchange / stock market / founded in 2004 and is responsible for regulating and monitoring the purchase and sale of shares of listed companies to investors carried out by brokers and numbered / 47 / accredited brokerage firm by the market through the use of modern electronic systems operations economic institution.
Market is held 5 sessions per week at a rate of two hours of the trading day.

http://www.alsabaah.iq/ArticleShow.aspx?ID=106650

 [tlm724] the conference aims to introduce investment opportunities in Iraq Stock Exchange, describing the move as a good omen for the opening of the stock market to the world

[tlm724] *hallelujah* bring it on baby !!

[tlm724] that this conference will give a good impression to foreign investors what is going on in Iraq Stock Exchange and the movement of trading in it and the nature of the stock market.

[tlm724] According to the Exchange, the Frontier company scheduled the participation of more than 50 global companies from various Arab and foreign countries and types of areas to promote and support the financial their markets in addition to the experts, economists and journalists interested in the economy and investment in region.

http://www.bondladyscorner.com/t159086-the-need-to-contribute-to-the-stock-market-in-gdp

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Abadi adviser confirms the terms of the World Bank in response to Iraq

BAGHDAD / Zahraa Hamid   He stressed the economic advisor to the Prime Minister Haider al-Abadi, on Monday, that Iraq is the rest of the implementation of the conditions imposed by the World Bank in exchange for lending, and pointed out that the loan, which is estimated at one billion and 200 million dollars will go basis mainly for power plants and productive sectors, as called for an economist to the need transforming the Iraqi economy to industrial, agricultural and activating the private sector.

He said the appearance of Mohammed Saleh, in an interview for the (long-Presse) that “the World Bank conditioned on Iraq not to waste natural gas in order to agree to lend,” noting that “the government has pledged to the bank’s commitment to Bstratejah energy is from which stop the waste of natural gas associated completely in 2030, the existence of projects to take advantage of it.

“Saleh added,” The World Bank has also stipulated that the activation state-owned enterprises, which works by the Cabinet four months ago where approved a program to activate a number of industrial and oil and service companies “noting that” Iraq is so may do the conditions requested by the World Bank.

“Saleh pointed out, that” the World Bank, which is estimated at one billion and $ 200 million loan, will go primarily the basis for investment projects for electric power, also will be assigned part of it for the purposes of producing running the hands of the worker, not for salaries or wages, “stressing the importance of” being a loan Iraq could borrow from the international capital markets guaranteed by the World Bank. ”

It is noteworthy that the Ministry of Finance, announced on Saturday (19 December 2015) present for the signing in Washington, the World Bank’s $ 1.2 billion loan agreement, indicating that Iraq will get the loan before the end of this year.

On his part, said economic expert on behalf of Antoine , in an interview for the (long-Presse) that “the World Bank called on Iraq to restructure its economy, and to stop the appointments and other things to improve the economic situation and stop the corruption, and activating the producing companies to the Ministry of Industry and Minerals.”

said Antoine, that “Iraq is now going through now a very difficult phase to achieve those improvements, “pointing out that” the World Bank usually propose to the borrowing countries implement specific programs, but the last carried out a part of or carried out in stages.

“felt an economist, that” Iraq should change the pattern of its economy radically, and turns it from a yield oil to agriculture Industrial and does the role of the private sector, to create jobs and increase GDP production.

“The World Bank, has announced his agreement to give Iraq a loan of one billion and 200 million dollars to assist in controlling the financial and improve the energy sector conditions, and to compensate the decline in oil prices and rising security costs.  LINK

[tlm724] economic advisor to the Prime Minister Haider al-Abadi, on Monday, that Iraq is the rest of the implementation of the conditions imposed by the World Bank in exchange for lending

[tlm724] ah yes love those conditions

[tlm724] called for an economist to the need transforming the Iraqi economy to industrial, agricultural and activating the private sector

[tlm724] that “the World Bank conditioned on Iraq not to waste natural gas in order to agree to lend

[tlm724] The World Bank has also stipulated that the activation state-owned enterprises

[tlm724] that” Iraq is so may do the conditions requested by the World Bank

[tlm724] loan, will go primarily the basis for investment projects for electric power, also will be assigned part of it for the purposes of producing running the hands of the worker, not for salaries or wages,

[tlm724] not for salaries or wages

[tlm724] perfect !!!

[tlm724] that “the World Bank called on Iraq to restructure its economy, and to stop the appointments and other things to improve the economic situation and stop the corruption, and activating the producing companies to the Ministry of Industry and Minerals.”

http://www.bondladyscorner.com/t159102-abadi-adviser-confirms-the-terms-of-the-world-bank-in-response-to-iraq
~~~~~~~

Industry is seeking a loan from the World Bank

12/22/2015    BAGHDAD / JD / .. revealed the Ministry of Industry for its quest for a loan from the World Bank funding for the restructuring of public companies operations.

According to a statement issued by the ministry received / JD / copy of it: that the Minister of Industry and Minerals Mohammed Darraji terrace Restructuring Committee-owned public companies State the problem by order of my book issued by the Office of the Prime Minister and its membership includes representatives from the ministries that oversee these companies in implementation of the plan the big economic reforms pledged by the government.

The statement said: The work of this Committee designed to make public companies organizational units operate according to the principles of a market economy and enjoy products of high competitiveness and Bmayshm in converted from losing to the units profitable for the development of the Iraqi economy

and to achieve diversity in the composition of GDP, along with the elimination of unemployment and creating new jobs by following the scientific and global methods in dealing with such problems, including the establishment of business development centers unique step of its kind in Iraq in addition to the use of resources of all kinds are more effective and higher efficiency.

The Commission for the restructuring of public companies since its inception to date two meetings under the chairmanship of Mohamed’s Darraji to organize mechanisms for implementing the restructuring operations including the development of standard contracts to regulate direct domestic demand towards national products mainly to remedy cases of dumping that can occur as a result of contracts and open a window for cooperation and coordination with the Committee on Reform

Alkmarki problem in the Office of the Prime Minister to start implementing the customs tariff law in all the country’s ports has also resulted in a second meeting to form a committee to follow up the implementation of the decisions of the Commission in the fields and in the All the ministries concerned.

During the meetings of the Committee was hosted by advisers to develop a model or more of the mechanics of structural reform to guide the work in terms of the fact that the structural reform of the corporate process that requires the use of international standards to achieve the principles of disclosure and transparency.

The Committee made ​​several recommendations to the different state of the legislative, judicial and executive authorities to provide facilities and cooperation in the reorganization of the environment and economic business, including the recommendation devices to revive the subject of the existence of Platform-importing regulates commercial commodity flows to Iraq,

which was in place since the previous contracts for integrated local commercial role with the outside With national production, as well as make way for all employees, regardless of the age requirement and duration of career service for referral to retire requests without applying some limitations contained in Law No. (9) for the year 2014 with the payment of end of service benefits in addition to the recommendation of the ministries to take decisions and actions that contribute to the change the environment current business for companies Pmaahakq goals of restructuring.

The statement stressed that the Ministry of Industry and Minerals is currently seeking to obtain a loan from the World Bank to help finance the restructuring of public companies to all state-owned enterprises operations after Iraq success in granting a loan from the bank mentioned where that work is underway in this regard. / End / 22 /.     http://www.dananernews.com/News_Details.php?ID=6470

 [tlm724] Industry is seeking a loan from the World Bank 12/22/2015 BAGHDAD / JD / .. revealed the Ministry of Industry for its quest for a loan from the World Bank funding for the restructuring of public companies operations.

[tlm724] open a window for cooperation and coordination with the Committee on Reform Alkmarki problem in the Office of the Prime Minister to start implementing the customs tariff law in all the country’s ports has also resulted in a second meeting to form a committee to follow up the implementation of the decisions of the Commission in the fields and in the All the ministries concerned.

[tlm724] The statement stressed that the Ministry of Industry and Minerals is currently seeking to obtain a loan from the World Bank to help finance the restructuring of public companies to all state-owned enterprises operations after Iraq success in granting a loan from the bank mentioned where that work is underway in this regard.

[tlm724] they working it from all angles finally !!

http://www.bondladyscorner.com/t159096-industry-is-seeking-a-loan-from-the-world-bank

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