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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Suggestions to achieve the goals of economic reform

    Rocky
    Rocky
    Rocky
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    • Post n°1

    Suggestions to achieve the goals of economic reform Empty Suggestions to achieve the goals of economic reform

    Post by Rocky Sun Nov 06, 2022 8:09 am

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    November 6, 2022[You must be registered and logged in to see this link.]
    Baghdad/The Obelisk:
    Louay Khatib
    In order to achieve the objectives of economic reform, the following are proposals for the Deputy Prime Minister/Energy Affairs and Minister of Finance to:
    [You must be registered and logged in to see this image.]Increasing imports
    [You must be registered and logged in to see this image.], providing services,
    [You must be registered and logged in to see this image.]providing job opportunities,
    [You must be registered and logged in to see this image.]supporting the private sector,
    [You must be registered and logged in to see this image.]supporting people with low incomes,
    [You must be registered and logged in to see this image.]curbing corruption and mismanagement
    Constitutionally, Iraq is no longer a central socialist dictatorship in which the government is the main operator of the people and the sole responsible for building the state, but rather a federal democratic state with a decentralized federal system that relies on a market economy and private sector partnership to provide job opportunities and build the state.
    1- The price of oil in the federal budget for the new year is set at 25% less than the average price of oil for the current year, to protect the budget from market fluctuations and to provide a surplus that finances the “stability fund” and to isolate the local economy from large flows of oil revenues and avoid inflation and atrophy related to local sectors other
    2- The funding of the federal budget from oil exports imports is set at 3.2 million barrels per day, and a sovereign fund is established with international standards whose investments (domestic and external) are managed by a team of experts specialized in global financial markets, and the fund is financed from oil imports above the production plateau specified in the federal budget.
    3- Cancellation of the ration card after including its cost in the salaries of social welfare and people with limited income whose income does not exceed 750,000 dinars per month, with an increase in financial support allocations for these segments by 10% to be financed from the surplus oil imports in the “stability fund” provided that financial abundance is available in this fund.
    4- Abolition of government subsidies on fuel and electricity tariffs to rationalize consumption, combating smuggling and abuses, linking the tariff equation to the price of Brent oil, provided that financial support is included in monthly allocations determined by the Ministry of Finance and paid to segments registered in social protection networks and those with limited monthly income below one million dinars.
    5- Increasing the income tax progressively from 5% to 30% on public sector jobs, starting from the salary scale whose income exceeds one million Iraqi dinars, granting a 10-year tax exemption to private sector employees and providing grants for free training and qualification courses for public sector employees who wish to move to the private sector
    6- Suspension of government appointments with the exception of rare and important specializations, entrusting employment tasks to the Federal Service Council after the ministries submit their requests, and establishing vocational training centers specialized in international standards in all governorates, whose funding is from the CSR for international and investment companies to train graduates and employees
    7- Abolishing the allocations for higher degrees, and adopting a more professional mechanism in evaluating competencies, such as professional certificates issued by international institutions and companies indicating the level of practical experience, as well as research and inventions published in internationally recognized periodicals, in addition to reports of the individual’s job performance and achievements.
    8- Restructuring public companies to operate on the basis of profit and loss (without any financial support) whose assets belong to the Ministry of Finance while remaining subject to regulation under the competent ministry without any executive interference from the ministry in the affairs of companies and their contracts. Planning for the privatization of the production and distribution sector with international standards and the development of transport in the BOOT format
    9- Reviewing standard contracts for the energy sector ([You must be registered and logged in to see this link.], gas, electricity, renewable energy, manufacturing industries, production, transmission, distribution) and attracting investors and international companies with attractive and competitive incentives compared to regional markets while encouraging partnership with the local private sector With solid conditions that guarantee quality, efficiency and job opportunities
    10- Develop the government communication cell with the media offices of the ministries of finance, oil, electricity and the Central Bank to refute public rumors and political statements that would negatively affect the currency exchange rate, the stability of investment projects and government decisions in economic, administrative and legislative reforms
    In conclusion, the requirements for economic reform are many and wide, so this series was limited to presenting some proposals related to the energy sector exclusively and what is related to it in the field of government support and the tax aspect and ways of treatment to reduce pressure on citizens, especially those with low incomes through supporting social protection networks
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