More Iraqi News Monday PM 9-21-20
More Iraqi News Monday PM 9-21-20
TLM724 Administrator BondLady’s Corner
Parliamentary Communications: If The Mobile Companies Had Paid Their Debts To The Government, Iraq Would Not Need To Borrow
Money and business Economy News – Baghdad A member of the Parliamentary Communications Committee, Alaa al-Rubaie, confirmed, on Monday, the use of all methods to stop the round of licenses for mobile phone companies, indicating that if those companies had paid their money to the government, Iraq would not need to borrow from abroad.
Al-Rubaie said in a press interview, "All the legal procedures we used to stop the renewal of mobile phone companies and the judiciary said the word of separation and sided with the people's demands by rejecting the appeals submitted by the mobile phone companies, especially with the presence of major violations of the work of mobile phone companies."
He explained that "the judiciary has opened a comprehensive investigation of the work of mobile phone companies after the state decision," noting that "one of the mobile phone companies has sold more than 5 million cards and this is against the law."
Al-Rubaie pointed out that "the government was supposed to defend the people's resources and not courtesy of the mobile companies, and if the mobile companies paid their debts to the government, Iraq would not need to borrow," stressing that "the government's decision to renew mobile companies came at the expense of the poor and the unemployed."
Number of observations 97 Date of addendum 09/21/2020 https://economy-news.net/content.php?id=21937
Khalaf: The Financial Sector Is Required To Support The Energy Sector
Member of the Board of Directors of the Union of Arab Banks, Chairman of the Board of Directors of the International Development Bank, Ziad Khalaf. "Internet"
Banks Economy News – Baghdad A member of the Board of Directors of the Union of Arab Banks, Ziad Khalaf, stressed in the qualitative hypothetical conference concerning the powering Iraq sector, which was organized by the Frontier Exchange Company, the need to advance the reality of production and distribution of electric power in Iraq, which has a promising economic future in the world and the region, pointing out the need for the banking sector A prominent role in supporting the efforts being made in the energy sector.
Khalaf stated, in a statement received by "Al-Eqtisad News", his vision towards supporting banks and financial institutions for the future of energy in Iraq and ways to invest in them to reach the activation of achieving the partnership between the public and private sectors and to provide the required funding to invest in the energy sector in Iraq and to define the tasks of our prestigious institution in keeping pace with developments and transformations. Digital and the possibility of direct application of electronic collection systems according to the latest advanced systems.
Khalaf pointed out that the crisis of the spread of the virus has cast a shadow over the global economy, and many countries that used to have a strong and heavily indebted economy have become, and some Arab countries have faced common challenges due to the frequent power cuts and the inability of governments to keep pace with the increasing demand for energy resulting from the decline in the current level of investment. In the sector and the political turmoil in this country, in addition to the economic repercussions of the new Corona virus and the closure measures that have been imposed during the past months to contain the virus.
Khalaf thanked "Frontier Exchange for the invitation to shed light on the energy sector in Iraq in light of the Corona pandemic."
Khalaf continued, saying, "We were also proactive in investing heavily in infrastructure and advanced technologies, in line with international trends and practices in the transformation towards digital economy and financial technology, which will provide the key elements for the transition to e-government in various parts of the state, including Energy and electricity sector, as the issue of electronic collection and collection will be strategic for all investors in this sector. "
He added: "This is what we worked on in 2019, as we have acquired an integrated system for collection and collection that provides multiple electronic channels for the Iraqi citizen, in addition to the possibility of linking this system with the database of the relevant government agency, which facilitates the process of completing the collection and thus reducing waste and advancing the reality of the sector." .
He continued, "The weakness of the infrastructure in the issue of collection and collection constitutes one of the biggest challenges for any investor who wishes to invest in this sector. Therefore, what we have done is by investing in the acquisition of the best global collection systems according to international standards and providing the necessary systems and comprehensive infrastructure, which is considered an element." "Very influential to attract investments, similar to what is applied in neighboring countries and the world."
He said: "The energy sector represented by the oil and gas industry and the electricity sector is the main and supportive engine of the Iraqi economy, specifically oil in Iraq, which is the backbone of the Iraqi economy, as Iraqi oil exports represent more than 85% of the total state income annually, and the average oil production reaches 3.5 million.
Accordingly, the annual income from Iraqi oil exports is estimated at about 50 billion dollars annually based on the average price of 40 dollars per barrel. Despite this, the experiences of countries have proven that rentier economies that depend on oil only in forming the largest part of the state's imports are not It has the financial ability to face economic challenges and setbacks. "
In turn, the representative of Frontier Exchange, Ahmed Al-Jar, stressed the importance of the conference, which focuses on an important sector in Iraq and is the cornerstone of the sustainable development process that Iraq seeks.
Number of observations 86 Date added: 09/21/2020 https://economy-news.net/content.php?id=21924
Parliamentary Finance To / NINA /: The Government Will Resort To Issuing Treasury Bonds From The Central Bank To Continue Paying Employees' Salaries
Monday 21, September 2020 13:12 | PoliticalViews: 158 Baghdad / NINA / The Parliamentary Finance Committee disclosed that the government plans to issue treasury bonds from the Central Bank to continue paying the salaries of state employees. "The government is still unable to pay salaries and other necessary operating expenses, so it has resorted to preparing a budget for four months, which is basically a new borrowing law," said committee member, Naji Al-Saeedi, in a statement to the Iraqi National News Agency ( NINA ).
He added, "The cost of state employees' salaries for the month of September exceeded 3 trillion dinars, so the government will resort to issuing treasury bonds from the Central Bank to continue paying salaries," otherwise this would cause a collapse in the national economy by the end of next year 2021.
Al-Saeedi indicated that the reserves and returns of the Central Bank of hard currency decreased with the failure of the government to borrow abroad due to the refusal of Parliament.
During its extraordinary session held last Monday, the Council of Ministers voted on the Federal Budget Law of the Republic of Iraq for the fiscal year / 2020, and referred it to the House of Representatives based on the provisions of Articles 61 / Clause First and 80 / Clause Second) of the Constitution. / End 5
https://ninanews.com/Website/News/Details?Key=857861
Parliament Ends The Report And Discussion Of The Draft Amendment To The Law Amending The Federal Supreme Court Act
Monday 21, September 2020 16:05 | PoliticalViews: 58 Baghdad / NINA / The House of Representatives has completed the report and discussion of a draft amendment to the Federal Supreme Court Law No. 30 of 2005, which is the draft prepared by the Presidency of the Republic. / End 5 https://ninanews.com/Website/News/Details?key=857920
Parliament Receives The Draft Budget Bill Sent From The Council Of Ministers
Monday 21, September 2020 16:31 | EconomicalViews: 86 Baghdad / NINA / Parliament has received the draft federal budget law for the year 2020 sent by the Council of Ministers.
In the session, the representative of the government, Turhan Al-Mufti, declared, "The Budget Law has officially reached Parliament." / Ended https://ninanews.com/Website/News/Details?key=857935
Nassif demands an end to negotiations with the Korean company Daewoo ... and threatens to reveal the names of / traitors / corruptors and accomplices with Kuwait.
Monday 21, September 2020 09:27 | EconomicalViews: 191 Baghdad / NINA / Representative Alia Nassif called on Prime Minister Mustafa Al-Kazemi and the religious authority to intervene and stop negotiations with the Korean Daewoo Company.
Nassif said in a statement received by the Iraqi National News Agency / NINA / a copy of it that "Prime Minister Mustafa Al-Kazemi and the religious authority should intervene and stop negotiations with the Korean Daewoo Company until it is agreed to make the depth of Al-Faw port not less than 24 meters", wondering "who authorized the committees Negotiating to reduce the depths of the Faw port to 14 meters?
She added, "There are attempts by some of what she described as (traitors) in the negotiation committees to make the port depths 14 meters." What is the benefit of a port that is unable to receive ships?
Nassif added, "The issue is very important and dangerous, and Al-Kazemi, the reference and all intellectuals and academics must intervene to prevent the conclusion of this contract with this little depth," noting "the need to put an end to what she described as traitors, bribes and accomplices with Kuwait, and we will reveal their names to be tried for treason according to the Iraqi Penal Code." / Ended 10 https://ninanews.com/Website/News/Details?key=857801
A Parliamentary Committee Reveals A Matter That Will Contribute To Reducing The Hard Currency Exit
Editing date: 9/21/2020 17:01 • 34 times read [Baghdad-Ayne] The Parliamentary Committee on Agriculture, Water and Marshlands affirmed, on Monday, that the success of government plans in all areas depends mainly on cooperation with the concerned parliament committees, and that it will contribute to reducing the exit of hard currency.
Committee Chairman Salam Al-Shammari said in a statement. "The success, in particular, in agricultural reclamation plans and animal production is a clear evidence of the continuous cooperation between the committee and the concerned governmental bodies, which have contributed greatly to this abundance and sufficiency."
He added, "The Ministry of Agriculture's continuous declaration of self-sufficiency in agricultural and animal products and their abundance in local matters will contribute to significantly reducing the exit of hard currency."
Al-Shammari stressed, "the importance of actually starting to export the surplus of the local product because it has a great profit for financial imports and a new source for the budget."
http://www.alliraqnews.com/modules/news/article.php?storyid=100655
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