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Al-Haddad's office denies the government and parliamentary finance agreement regarding the exchange rate
 
Saturday 27 March 2021 - 16:13

 

https://akhbaar.org/home/2021/3/281487.html

 
[[article_title_text]]
BAGHDAD (INA) - The media office of the second deputy speaker, Bashir Al-Haddad, denied today, Saturday, the news of the agreement of the government and the Parliamentary Finance Committee regarding the exchange rate.
 
The office stated, in a statement received by the Iraqi News Agency (INA), that it "denies what has been reported by some news agencies and social networking sites about the agreement of the Finance Committee and the government in today's meeting chaired by Al-Haddad, regarding the approval of the Financial Committee for the exchange rate of the Iraqi dinar against the US dollar."
 
And while we deny this altogether, we confirm what happened regarding the exchange rate and its implications and the resulting consequences, problems and price increases were discussed, and there was an extensive discussion between the Parliamentary Finance Committee and the concerned ministers to discuss solutions and ways to address the issue of the exchange rate of the Iraqi dinar
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Al-Haddad: The KRG delegation approved the proposal of the parliamentary blocs regarding Kurdistan’s budget share

1616850987631.jpg

 

27th March, 2021


Bashir Al-Haddad, Deputy Speaker of the Kurdistan Regional Parliament announced on Saturday that the Kurdistan Regional Government delegation approved the parliamentary blocs proposal approved by the Finance Committee regarding the region's share of the budget for the year 2021.

 

Al-Haddad said in a press conference held after the meeting of the Finance Committee with a government team of ministers, that the exchange rate was discussed and it was emphasized that the budget for this year should not be in debt, adding that the government and most of the members of the Finance Committee while keeping the exchange rate in its current position will be held a meeting with the governor of the Central Bank and a joint committee will be formed from the government and parliament to discuss how to maintain the price without affecting market conditions and that the exchange is not within the budget.

 

Al-Haddad indicated that 

the Presidency of the Council of Representatives will hold a meeting with the parliamentary blocs prior to the session to reach an agreement to pass the budget,

expressing his hope that the vote on the draft law will take place in tomorrow's session, Sunday. 

 

And on the Kurdistan Region’s share of the budget, Al-Haddad, who is a member of the Kurdistan Democratic Bloc in the Iraqi parliament, said, 

"The article regarding the region's share in the draft law was not the cause and the problem in not voting on the budget." 

He continued by saying that the Kurdistan Regional Government delegation agreed to the text that was agreed upon with the political blocs regarding the region’s share.

 

Al-Haddad confirmed that 

the Parliament's Finance Committee approved this agreement,

and it has become an established article in the budget and cannot be tampered with or withdrawn in any way because it has become an article of law,

stressing that the regional government delegation and the Kurdish representatives in Parliament are dealing with this text approved and signed by The committee will not accept to withdraw from this agreement. 

And he went on to say that there are parties seeking to obstruct the passage of the bill and for Iraq to remain without a budget this year.

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Member of Parliament Finance: The 2021 budget has become a hostage to a conflict of two wills .. 

The problem is not between Baghdad and Erbil


151963.jpg?watermark=4

 

1,101 Sweeteners 2021/03/27 16:15
Baghdad Today - Follow-up

 

A member of the Parliamentary Finance Committee, Jamal Cougar,

confirmed that the 2021 budget file is still thorny because of wills that you do not want to be approved even though Iraq is close to entering its fourth month without a budget.

The Presidency of the Council of Representatives placed the vote on the budget with its 58 articles on the agenda of the parliament session scheduled for tomorrow, Sunday.

 

Cougar said in a televised interview that she followed (Baghdad Today) that 

"it is inconceivable that the draft budget for 2021 will be delayed until the fourth month of this year after a whole year in which there was no budget for the state. 

The people have the right to be indignant and unfortunately the political blocs have made the budget a way to twist arms and achieve goals."

Purely political.

 

He added that "there are two wills,

the first wants to approve the budget and the second does not want it to pass for political reasons,

and the situation is now between the jaws of pliers and we do not know who will prevail in the end."


He pointed out that 

"the budget may need more time before it is approved due to recent complications, 

including demands to change the exchange rate. 

The problem currently is not between the federal government and the region,

as there is a political conflict in Baghdad,

and the budget is a fundamental thing in it."

 

He warned that 

"passing the budget without taking into account the opinion of the Kurds means that there is a component that wants to manage the country by the majority,

although the constitution is based on balance and consensus,

and there may be marginalization of the components,

and this matter will have major political repercussions."

 

He pointed out that 

"the Shiite political forces came on March 20 with a proposal to end the Kurdistan quota crisis and it was discussed within the Parliamentary Finance Committee and it was voted upon by agreement of all components,

but unfortunately on the second day the proposal was changed by a political party without reference to the Finance Committee and it was attempted to impose it on The committee,

which prevented reaching a final agreement, "he said.

 

On the economic situation with the delay in approving the budget, Cougar said, 

"The situation is almost stalled if not paralyzed due to the failure to approve the exchange rate in the new budget.

Iraq did not have a budget in 2020 and there are many segments of the people waiting for the budget to be passed and there is anxiety in the street and the market will only stabilize.

" Fixing a specified exchange rate in the budget. "

 

Last Wednesday, the representative of the Al-Fateh Alliance, Uday Shaalan, said that the majority of the House of Representatives stood against the vote on the exchange rate of the dollar sent by the Iraqi government, while indicating that its amendment would pave the way for passing the budget by the majority.

Shaalan said, in an interview with (Baghdad Today) that "the majority of parliament members refuse to vote on the exchange rate of the dollar sent by the Iraqi government in the 2021 Budget Law, which exceeds 1450 dinars against the dollar."

He continued, "This is why the government is obligated and forced to change this price," noting that "this refusal comes in order to alleviate the great harm that has befallen citizens."

While noting that "there is sufficient time for the House of Representatives and the Council of Ministers to change the exchange rate of the dollar against the Iraqi dinar before the budget is voted on," he stressed that "the survival of the exchange rate without modification by the government will increase the difficulty of passing the budget bill in 2021, as the parliamentary majority We reject this price and insist on reducing it. "

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The arrival of the Kurdish negotiating delegation to Baghdad

Posted a minute ago
News source / Al Furat News
101332021-1611490121903.jpeg
Al Furat News
News source / Al Furat News
{Policy: Al Furat News} The Kurdish negotiating delegation arrived in the capital, Baghdad, on Saturday evening, in a step aimed at agreeing to pass the 2021 budget.

 

The parliamentary source had confirmed {for the Euphrates News} a delegation from the Kurdistan region went this evening to the capital, Baghdad, to discuss the terms of the budget, ahead of the meeting to pass the budget tomorrow, Sunday.
On Friday, the House of Representatives announced the postponement of its session for approving the budget until tomorrow, Sunday.
The Information Department stated that, given the continuing discussions on the draft budget law, and the need for final formulations of the articles of the budget bill, the Presidency of the Council decided that the voting session on the draft budget law would take place on Sunday, March 28, 2021, at three in the afternoon.
The spokesman for the Vice President of the Kurdistan Regional Government, Samir Hawrami, also revealed that the new formulation agreed upon in the draft fiscal budget for 2021 included two proposals for the federal government, and another for the Finance Committee and parliamentary blocs, pointing to the region’s readiness to implement one of these two proposals.
For his part, a member of the Parliamentary Finance Committee, Sherwan Mirza, suggested passing the federal budget law in the next session after the agreement between the Kurdish delegation and the Shiite forces and the Sunni forces to pass Article 11 of the Budget Law concerning the share of the Kurdistan region, according to the agreement.
Wafa Al-Fatlawi

 

 

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Parliamentary Finance: Things are heading towards voting on the budget tomorrow, Sunday

142732021_MVI_527200_01_2320180114-13004

 

  Baghdad / h. G

Today, Saturday, the Parliamentary Finance Committee confirmed that things are heading towards voting on the draft federal budget bill for the fiscal year 2021, tomorrow, Sunday.

A member of the Finance Committee, Sadiq Mdalloul, said in an interview with (Iraqi Media News Agency /) that "things are heading towards voting on the 2021 budget tomorrow, Sunday

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:o 

 

:D  :D  :D 

 

Imported ready-made recipes will not cure the Iraqi economic and financial collapse
 

Friday 26th March 2021 - 06:11
 
image.jpeg.898d58d6ffc67302cf78f952b2d26c77.jpeg 
 
Dr.. Abd Ali Awad
 
Economic researcher and writer
 

The Iraqi laboratory has become one of the world's richest laboratories in the field of political, economic and social experiments. 
As the various dilemmas accompanying its collapsing consequences still follow him ...
If silence prevailed on the part of those concerned with the Iraqi economic and financial affairs,
we would have said that it is inevitable to bring ready-made prescriptions from abroad and to seek the help of international economic and financial institutions and international scientific research centers,
but after 2003, various studies were published.
And research to address the Iraqi economy and how to advance it did not find deaf ears. 
 
The last statement of the Minister of Finance - Ali Allawi - 
to make the price of every 1{00} dollars equal to 3{00} thousand dinars,
as it was before 2003, 
confirms that he adheres to the directives of the World Bank,
on the pretext that the salaries of the employees of the state sector are burdening the budget! 
 
 
He did not bother with his consultant team to involve the Ministry of Planning to develop an integrated study to transfer the majority of state sector employees to the private sector, which in turn stipulates providing job opportunities by granting loans with the application of the Social Security Law for the employees of that sector. 
I mentioned several years ago that the national economy, with its private sector, needs an estimate of 50 thousand industrial, agricultural and service production projects, and this huge number of projects can absorb unemployment in its both declared and disguised parts / the redundant state sector employees /.  
 
It seems clear to us that there is a contradiction between Parliament legislation and executive authority agreements that take the nature of deals, so where is the commitment of the Council of Ministers to implement the laws on protecting the national product and protecting the consumer! 


The inherited problem in running the state is that the ruler has the absolute right to dispose of state funds, which are the people's money, unlike what is prevalent in countries with long-standing democracies with their constitutional institutions ..

And here we are on the eve of a tripartite meeting between Al-Kazemi, King Abdullah II and President Al-Sisi,

and the indications for that meeting It suggests that Iraq should be a consumer market for the goods of those countries in addition to Jordan and Egypt’s insistence on completing the extension of the oil pipeline from Iraq to the port of Aqaba at the expense of Iraq and the beneficiaries of that project are Jordan and Egypt.

Iraq is the only one affected ..

Likewise, Egypt's desire to export its labor to Iraq is as if Iraq suffers from a shortage of internal manpower ...

Whoever wants to build his country must set his sights on Iraq to infinity.

It is possible to conclude any agreements between Iraq and any other country if those agreements are in the interest of the two countries,

but if they are in the interest of the other country and cause harm to Iraq,

then there is no need to think about them. 

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Parliamentary Finance talks about an "understanding" to approve the budget tomorrow

Posted 23 seconds ago
News source / Alsumaria channel
Doc-P-377060-637524650110282012-810x455.
 
The source of the news / Alsumaria channel

Today, Saturday, the Parliamentary Finance Committee confirmed that there is an understanding between the parliamentary blocs to approve the 2021 budget, while indicating that it does not have any decision regarding whether or not to reduce the exchange rate.

"The meeting that took place today between the committee, the ministers and the second deputy speaker of the House of Representatives aims to amend some of the formulations and paragraphs contained in the draft budget bill," said a member of the committee, Muhammad al-Shabaki, in an interview reported by the Iraqi News Agency.

He added, "There is a set of articles that must be reconsidered in its technical formulation," noting that "the meeting did not discuss contentious articles and did not address the region's share in the budget, because this issue is political."

He pointed out that "the committee discussed some articles of the draft budget law, including the development of regions, the investment budget and some loans for projects of the Ministry of Electricity and Oil, and deliberations were made with the ministers in this regard."

He pointed out that "the Minister of Finance spoke about the issue of the exchange rate without giving a decision to the Parliamentary Finance Committee," stressing that "this matter is left to the government's discretion."

And that "the mission of the Parliamentary Finance Committee is to conduct transfers and some increases and reductions and to ensure that there are no breaches of sovereign loans."

Shbaki noted that "the committee does not have any decision regarding lowering the exchange rate or not," indicating at the same time, "the existence of an understanding between the political blocs to approve the budget law in tomorrow's session

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ERBIL - A delegation from the Kurdistan Regional Government (KRG) arrived in Baghdad for talks on the budget bill before it is passed by the parliament.

Faris Issa, the KRG representative in Baghdad, confirmed the report to BasNews and pointed out that it is the same delegation which was in the Iraqi capital for similar talks earlier last week.

"The delegation will stress on reaching an agreement [on the budget bill with Baghdad] in the framework of the constitution and preservation of the rights and financial entitlements of people of Kurdistan Region," Issa added.

The Iraqi Council of Representatives is expected to hold a session on Sunday, March 28, at 3:00 pm, to discuss the budget bill.

The KRG delegation and Shia factions reached an initial agreement on the budget bill last week, but the Shia factions made a few changes to the deal which were rejected by the KRG.

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ERBIL, Kurdistan Region — Iraqi parliament’s finance committee held intensive meetings with members of Prime Minister Mustafa al-Kadhimi’s cabinet on Sunday over the contentious and long-delayed federal budget bill, which will reportedly be voted on by lawmakers on Sunday, according to state media. 

Parliament’s second deputy speaker Bashir Al-Haddad chaired the meeting between members of the committee and a number of ministers for a detailed discussion of the bill’s articles.

Three months into 2021, a vote on the year’s budget has been delayed, which according to MPs speaking to Rudaw was a result of blocs failing to reach an agreement over the Kurdistan Region’s share. 

However, at a press conference after the meeting Haddad denied the Region’s share was not the reason for the delay.

"The article on the region's share in the draft law was not the reason for the delay in voting on the budget," Haddad claimed, adding that the Kurdistan Regional Government (KRG) "delegation agreed to the text that was agreed upon with the political blocs regarding the Region's share." 

Shiite parties added amendments to Article 11 of the bill, which dictates the Kurdistan Region's share of federal funds.

The new amendment would require the KRG to hand over the value of 250,000 barrels of oil a day to Baghdad, in addition to all non-oil revenues, such as custom fees and taxes.  

Haddad said that the amendment has become an established article in the budget and cannot be easily amended or withdrawn.

"We demanded that the political forces settle disputes and pass the law in a manner that satisfies all parties and components and meets the needs of citizens in all governorates of Iraq," Haddad said of the meeting in a statement sent to the Iraqi News Agency. 

Kurdish MPs in Iraqi parliament have previously expressed their displeasure with the amendment of Article 11. 

"We consider this amendment as a violation of the agreement between the two sides, and a slight retreat by the Shiite blocs," deputy head of the Kurdistan Democratic Party (KDP) bloc Bashar al-Kiki told state media on Tuesday. 

The conditions that the Region receives its share of federal funding have been a point of contention between Erbil and Baghdad. The KRG, which relies heavily on Baghdad for public spending, has sent a delegation led by Deputy PM Qubad Talabani to Baghdad several times to try and resolve the issue.

Parliament will hold a special session on Sunday to vote on the draft federal budget bill of 2021, according to state media.

At the press conference, Haddad also revealed that the government and most of the finance committee prefers to keep the US dollar - Iraqi dinar exchange rate as it is, just two days after Iraqi militia Rab’Allah paraded through Baghdad in a show of force demanding the cancelation of a devaluation of the dinar against the dollar introduced last December. 

Samir Hawrami, spokesman for the Kurdistan Region's Deputy Prime Minister Qubad Talabani, told Rudaw that the KRG has sent its delegation back to Baghdad Saturday night. 

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48 minutes ago, 6ly410 said:

The arrival of the Kurdish negotiating delegation to Baghdad

Posted a minute ago
News source / Al Furat News
101332021-1611490121903.jpeg
Al Furat News
News source / Al Furat News
{Policy: Al Furat News} The Kurdish negotiating delegation arrived in the capital, Baghdad, on Saturday evening, in a step aimed at agreeing to pass the 2021 budget.

 

The parliamentary source had confirmed {for the Euphrates News} a delegation from the Kurdistan region went this evening to the capital, Baghdad, to discuss the terms of the budget, ahead of the meeting to pass the budget tomorrow, Sunday.
On Friday, the House of Representatives announced the postponement of its session for approving the budget until tomorrow, Sunday.
The Information Department stated that, given the continuing discussions on the draft budget law, and the need for final formulations of the articles of the budget bill, the Presidency of the Council decided that the voting session on the draft budget law would take place on Sunday, March 28, 2021, at three in the afternoon.
The spokesman for the Vice President of the Kurdistan Regional Government, Samir Hawrami, also revealed that the new formulation agreed upon in the draft fiscal budget for 2021 included two proposals for the federal government, and another for the Finance Committee and parliamentary blocs, pointing to the region’s readiness to implement one of these two proposals.
For his part, a member of the Parliamentary Finance Committee, Sherwan Mirza, suggested passing the federal budget law in the next session after the agreement between the Kurdish delegation and the Shiite forces and the Sunni forces to pass Article 11 of the Budget Law concerning the share of the Kurdistan region, according to the agreement.
Wafa Al-Fatlawi

 

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The Kurdish delegation in Baghdad today and optimism that the budget will be approved tomorrow

1615870513752.jpeg

 

27th March 2021


The delegation of the Kurdistan Regional Government, tomorrow, Sunday, in Baghdad, will resume its negotiations regarding the share of the Kurdistan Region in the federal budget, in a positive atmosphere by resolving the disputed points and voting on the budget.

The deputy from the Kurdistan Democratic Bloc, Sherwan Al-Dubirdani, told Shafaq News:

The Kurdish delegation will arrive this evening in Baghdad, and tomorrow it will hold a meeting with the Presidency of Parliament and heads of political blocs to resolve the points of disagreement and reach a final agreement to vote on the budget law.

Aldobardani added; The atmosphere is currently positive, especially after the meeting of the Finance Committee and its hosting of the ministers, and that tomorrow, Sunday, will be a crucial day for voting on the budget law.

He pointed out that the date of the session may be delayed by an hour or two, but that it will be held to vote on the articles of the budget law gradually from Article 1 to Article 58, in addition to the articles added to the law. 

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SULAIMANI — Council of Representatives lawmaker Musana Amin told NRT on Saturday (March 27) that the agreement between the Kurdistan Regional Government (KRG) and the Shia bloc has not been canceled and remains operable.

Nevertheless, Amin criticized the terms of the agreement, arguing that it does not address the KRG’s withholding of public sector salaries over the past year.

In that way, the Kurdistan Islamic Union (KIU) lawmaker said he thought that the KRG’s negotiating delegation was too focused on securing funding for the government’s other expenses, rather than ensuring that people get paid their full salaries.

After the deal brokered under the 2019 Federal Budget Law broke down last April, Erbil struggled to pay government workers, missing five monthly disbursements entirely and cutting four others by nearly a quarter. All of this year’s paychecks have been cut by 21 percent so far.

Amin also cast doubt on whether there would be a vote on the budget on Sunday, saying that there is “chaos” as the moment.

He also blamed Council of Representatives Deputy Speaker Hassan Kaabi, who is part of the Shia bloc, for the unraveling of the Erbil-Baghdad budget deal on March 20.

(NRT Digital Media)

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Al-Fatah Alliance excludes passing the budget during tomorrow's session

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  Baghdad / h. G

The deputy from the Al-Fateh Alliance, Fadel Al-Fatlawi, excluded, today, Saturday, the passage of the draft federal budget law for 2021 in the House of Representatives during tomorrow's session, Sunday, in light of the existing differences between the political blocs.

Al-Fatlawi said in a statement followed by (the Iraqi Media News Agency /) that "political dialogue is still present between all the forces within the House of Representatives," noting that "the political blocs are currently holding a meeting with the Kurdish delegation that arrived in Baghdad this afternoon to resolve the dispute over the budget. However, they did not reach a final agreement. "

He added that "passing the budget during tomorrow's session, Sunday, is unlikely in light of the existing differences between the political blocs," noting that "the most prominent points of disagreement are the exchange rate and the share of the Kurdistan region and the confirmation of those covered by Resolution

 

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Parliamentary Finance announces a consensus to pass the budget tomorrow

Posted 30 seconds ago
News source / Iraqi life
BF35DDC3-4FC3-4B6B-AF8A-43FB40C7A5DD.jpe
Iraqi life
The source of the news / Iraqi life

Iraqi life

The Parliamentary Finance Committee announced, on Saturday, that there is a consensus to pass the budget bill for the current year at tomorrow's session.
Committee member Naji Al-Saeedi said: "There is agreement to pass the budget in the Sunday session, and the Finance Committee continues to work to approve the budget," indicating that "budget expenditures have been reduced to the maximum."
He added, "Parliament does not have legal authority to change the exchange rate."
He pointed out, "The political relations between the center and the region are the last of the budget," explaining that "there is an agreement between Baghdad and Erbil on the revenues and allocations

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Parliamentary Finance reveals the results of its meeting with the government

Posted 28 seconds ago
News source / PukMedia Network
iraq-news-810x456.jpg
PukMedia Network
News source / PukMedia

 

On Saturday, the Parliamentary Finance Committee held a meeting with a ministerial delegation to finalize the draft of the federal budget for 2021 before submitting it to a vote in the next session of the House of Representatives.

The Information Department of the House of Representatives said in a statement: The meeting was held at the Al-Rasheed Hotel, the ministers of finance, oil, planning, electricity, construction, housing, municipalities, works, trade, and labor, as well as the president of the Federal Service Council and advanced cadres in the aforementioned ministries.

The statement added: The Finance Committee discussed with the ministerial delegation a number of points in the budget law, such as loans and social welfare allocations, as well as allocations for the ration card and the need to provide it to citizens.

The Finance Committee stressed the need for the government to hold accountable those who manipulate the prices of foodstuffs, and to take its role in monitoring and following up on those authorities to prevent harm to citizens as a result of that.

Then the Finance Committee indicated that it always seeks to work in an integrated manner with the government to achieve the best possible performance that guarantees the higher interest of the Iraqi citizen, stressing at the same time that it has worked as much as possible to reduce the deficit in a scientific and thoughtful manner and achieve economic, urban and service development.

For its part, the ministerial delegation presented its answers and proposals regarding what the Finance Committee proposed and the decisions it took in the draft budget law

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Magda Al-Tamimi reveals the 'scenes' of the 'eight hours' meeting

Posted 21 seconds ago
News source / News
parliament_finance_committee_meeting_270
News
News source / news
Baghdad (People) -  Majda Al-Tamimi, a member of the Finance Committee in the House of Representatives, revealed, on Saturday, the scenes of the committee's meeting with the government regarding the 2021 budget.   
 
Al-Tamimi said in a statement that Nass received a copy of (March 27, 2021), that “the meeting of the Finance Committee lasted for eight hours, in the presence of the Minister of Finance, Oil, Trade, Planning, Labor and Social Affairs, the Minister of Electricity, as well as the Chairman of the Service Council. The Federal Minister of Finance and Director General of the Ministry of Trade also participated in the meeting.  
 
Al-Tamimi indicated that "one of the outcomes of the meeting was to increase the financial allocations for the ration card by 500 billion dinars, in addition to what is in the budget."  
 
According to the statement, “Al-Tamimi called for the need to change the mechanism of distributing the ration food basket by adopting the electronic card, which would contribute to eliminating corruption in the ration card file, as well as reduce transportation and storage costs and give the citizen freedom to choose the goods he wants at the time he desires.”  
 
She pointed out that she "has called for doubling the salaries of those covered by social care and people with disabilities, and stressing the need to monitor prices in the local markets to control them by activating the supervisory role of the concerned authorities."    
 
The Deputy Speaker of Parliament, Bashir Al-Haddad, confirmed, earlier today, that the ministers hosted by the House of Representatives, and most of the members of the Finance Committee, while maintaining the exchange rate of the dollar.  
 
Al-Haddad said in a statement that “People” received a copy (March 27, 2021) that “a meeting will be held with the governor of the Central Bank and a joint committee will be formed from the government and parliament to discuss how to maintain the price without affecting market conditions,” indicating that “ The Presidency of the Council of Representatives will hold a meeting with the parliamentary blocs prior to the convening of the session to reach an agreement to pass the budget.    
 
He pointed out that "there are parties seeking to block the passage of the bill and that Iraq should remain without a budget this year
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Parliamentary Finance: An understanding between the blocs to approve the budget tomorrow
 
Saturday 27 March 2021 - 18:28
 
[[article_title_text]]
(INA) Baghdad: Wissam Al-Mulla - The Parliamentary Finance Committee confirmed today, Saturday, that there is an understanding between the parliamentary blocs to approve the 2021 budget, while indicating that it does not have any decision regarding whether or not to reduce the exchange rate.
 
A member of the committee, Muhammad al-Shabaki, said in an interview with the Iraqi News Agency (INA), "The meeting that took place today between the committee, the ministers and the second deputy speaker of the House of Representatives aims to amend some of the formulations and paragraphs included in the draft budget bill."
 
He added, "There is a set of articles that must be reconsidered in its technical formulation," noting that "the meeting did not discuss contentious articles and did not address the region's share in the budget, because this issue is political."
 
He pointed out that "the committee discussed some articles of the draft budget law, including the development of regions, the investment budget and some loans for projects of the Ministry of Electricity and Oil, and discussions were held with the ministers in this regard."
 
 He pointed out that "the Minister of Finance spoke about the issue of the exchange rate without giving a decision to the Parliamentary Finance Committee," stressing that "this matter is left to the government's discretion."
 
And that "the mission of the Parliamentary Finance Committee is to conduct transfers and some increases and reductions and to ensure that there are no breaches of sovereign loans."
Al-Shbaki noted that "the committee does not have any decision regarding lowering the exchange rate or not," indicating at the same time, "the existence of an understanding between the political blocs to approve the budget law in tomorrow's session."
 
The second deputy speaker, Bashir Al-Haddad, had previously chaired a meeting of the Parliamentary Finance Committee with 6 ministers and the head of the Federal Service Council, on the federal budget for the fiscal year 2021.
 
The media office of the Deputy Speaker of Parliament, Bashir Al-Haddad, said in a statement received by the Iraqi News Agency (INA), that "the latter, chaired the joint meeting that was held at the Rasheed Hotel in the center of the capital, Baghdad, between the Parliamentary Finance Committee and a number of ministers (oil, finance, planning). Electricity, Reconstruction and Housing, Labor and Social Affairs), in the presence of the President of the Federal Service Council.
 
The statement added, "During the meeting, a detailed discussion and discussion of the items and articles of the draft federal budget law for 2021, which are included in the agenda of tomorrow's session," was made, pointing to "studying the budgets for service ministries and the disbursement doors for service projects in the event that the budget is approved."
 
Al-Haddad stressed, "the importance of approving the budget because it affects the general situation and is linked to the work of ministries and service projects and providing job opportunities for young people," stressing "the need to address high prices for food and commodities and find solutions and alternatives to the implications of the exchange rate of the Iraqi dinar."
 
He called on the political forces to "resolve differences to reach a consensus that paves the way for the passage of the law in accordance with legislative procedures and constitutional contexts in a manner that satisfies all parties and components and meets the needs of citizens in all governorates of Iraq."
 
Tomorrow, Sunday, the House of Representatives will hold a special session to vote on the draft federal budget bill for the fiscal year 2021
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Al-Fateh calls for speeding up the vote on the budget

%D8%A7%D9%84%D9%81%D8%AA%D8%AD-1-696x435

 

  Baghdad / h. G

Today, Saturday, the Al-Fateh Alliance called for an acceleration of the vote on the federal budget bill for 2021.

The coalition said in the statement, "I have spent hundreds of billions of dollars on the electrical sector over the past years, and the result is very clear, failed projects and bad services," adding, "Today, in the name of developing the electrical sector, some political parties want to add new loans and provide sovereign payment guarantees (about which suspicions are hovering) ) It increases the large deficit gap between revenues and expenditures in the general budget for the year 2021 and raises the size of the public debt and the amounts of interest paid annually.

The coalition pointed out that “we do not stand against developing the electric sector or anything else, but let the Minister of Electricity come to a public session in the House of Representatives explaining his plan, the feasibility of these projects, what companies are implementing them and whether they are contracted directly or through intermediaries, and the extent of the impact of these projects so that The Iraqi citizen feels that there is real development, not just promises, and money that is wasted and goes into the pockets of the corrupt.

The coalition asked, “What are the price offers that have been submitted for the contract in the form of (guaranteeing sovereign payment) for the development of some electrical stations, and is what was chosen from among these offers is the best,” announcing its rejection “of these materials dangerous to our economy, and we call again to accelerate the vote on Budget ”.

The coalition affirmed its stand "with the support of the deprived and affected sectors by supporting the social welfare budget, doubling the budget of the ration card and raising the price of purchasing strategic crops (wheat, barley, and rice) from farmers in order to contribute to alleviating the burdens imposed by economic conditions on citizens

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The launch of the evening trading of the shares of joint stock companies

Saturday 27th March 2021 117

The launch of the evening trading of the shares of joint stock companies
 
 Baghdad: Hussein Thahab 
 
The Securities Commission announced the launch of evening stock trading, in a move to activate the reality of stock trading and create a wider opportunity for local and foreign investors. The Chairman of the Securities Commission, Faisal Al-Haims, said: “The reality of trading has been studied in cooperation with the Iraq Stock Exchange, and we have directed to increase the time of the stock trading session within the market, to extend to three in the afternoon on Mondays and Wednesdays of each week, starting from next April 5.”
He pointed out that "the development plan is continuing in order to enhance the reality of trading within the market, in a manner that is commensurate with the national economy, and that the increase in trading hours gives investors freedom to trade with an increase in the rate of stock turnover."
 
Shareholders protection
In turn, the executive director of the Iraq Stock Exchange, Taha Ahmad Abdul Salam, said: “The market organizes five trading sessions per week from Sunday to Thursday, and that the trading time extends from 9:30 am to 12:30 pm according to the timing of electronic trading systems.”
He added that “the vision that was generated in 2021, after the success of addressing the Corona pandemic and crossing the crisis in 2020, and paying attention to aspects of disclosure, as part of protecting shareholders and investors, we directed this year to adopt the idea of increasing trading time, and that there be an evening period for trading shares of joint-stock companies and businesses Associated with this trading, such as opening an account in a depository center and following up on companies that list or companies that increase their capital, as well as following up on the affairs of shareholders and investors.
 
Market size
Abd Al-Salam pointed to the "increase in the session time to 3 pm, two days Monday and Wednesday every week, starting from April 5, with the aim of expanding the market size and the share turnover rate, to attract investors and shareholders to get acquainted with the shares of national companies and the activity of the Iraq Stock Exchange."
He stressed that the majority in society has obligations in the morning periods, and does not have enough time to get acquainted with the activities of the market and the joint-stock companies, and this approach came, so that a lot could be seen in the reality of stocks and everyone had the opportunity to invest, trade, activities and the procedures followed, which comes to encourage investment in
 Stock ».
 
Financial commitments
 Abd al-Salam warned of “the fake platforms that have been launched in the world as well as in Iraq and claim to be investing in the shares of international companies,” stressing that “this is far-fetched talk and part of the swindling and fraud, as it is not licensed and there are no instructions regulating this dealings, and there are no links. Financial with global markets ».
 He indicated that the local shareholding companies exist and issue their annual and quarterly statements and include the financial position, whether it is positive, such as achieving profits, or negative
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