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[size=30]Parliamentary committee: the budget will adopt a new way to deal with the 'petrodollar' clause[/size]
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The Parliamentary Oil and Energy Committee announced, on Wednesday, that the 2021 budget will adopt a new method regarding the "petrodollar" clause, as well as adding projects worth 1 trillion dinars to the oil-producing provinces.
[size=15]Committee member Sadiq Al-Sulaiti said, in a statement followed by NRT Arabia (April 14, 2021), that "the issue of (petrodollars) in all budgets was mentioned that there are dues for oil-producing provinces, as well as provinces that contain refineries as part of the allocations of" petrodollars ", through sums For these provinces within their own investment plan. "[/size]
[size=15]Al-Sulaiti noted that "this issue is written in the budgets, but it is not applied, because the Ministry of Finance was citing the lack of financial revenues and the deficit in financing" petrodollar "projects remains.[/size]
[size=15]Al-Sulaiti added that "the debt of the Ministry of Finance to the southern governorates amounted to more than 25 trillion dinars, according to the" petrodollar "clause, and this amount has not yet been paid, indicating that" the 2021 budget has developed a new mechanism that differs from its predecessor, and this mechanism imposed on the Ministry of Finance to establish special funds. For the "petrodollars", by opening accounts on a monthly basis from the oil revenues that are deducted from the "petrodollars" in order for these projects to be organized by the producing provinces according to their production quotas, and the amount is kept away from the disposal of the Ministry of Finance.[/size]
[size=15]Al-Sulaiti added, "We hope that this step will help create investment service projects for these governorates, as they are worthy of them." For oil, which is a very good amount that will give at least a push in the field of organizing service projects for these provinces, "noting that" the covered governorates are most of the southern governorates, as well as the central and Baghdad governorates. "[/size]
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