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[size=36]Funds to put money ... a new mechanism on the petrodollar clause for oil-producing provinces[/size]
Political| 08:23 - 14/04/2021
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Baghdad - Mawazine News
The Parliamentary Oil and Energy Committee stated, on Wednesday, that the 2021 budget had adopted a new mechanism regarding the "petrodollar" clause, which includes opening funds and accounts for oil-producing provinces and placing their share of funds away from the Ministry of Finance.
Committee member Sadiq Al-Sulaiti said, "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 petrodollar allocations, through sums to these provinces within
their investment plan ."
He added, "This issue is written in the budgets, but it is not applied, because the Ministry of Finance was citing the scarcity of financial revenues, and the deficit remains in financing
" petrodollar " projects .
Al-Sulaiti pointed out that "the debts 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 been paid yet.
Committee member Sadiq Al-Sulaiti said, "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 petrodollar allocations, through sums to these provinces within
their investment plan ."
He added, "This issue is written in the budgets, but it is not applied, because the Ministry of Finance was citing the scarcity of financial revenues, and the deficit remains in financing
" petrodollar " projects .
Al-Sulaiti pointed out that "the debts 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 been paid yet.
He indicated 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" petrodollars ", by opening accounts on a monthly basis from oil revenues deducted from the" petrodollars "in order for these projects to be organized by the producing provinces according to their quotas In production, the amount remains far from the disposal of the
Ministry of Finance.
The MP expressed his hope that "this step will help create investment service projects for these provinces as they are worthy of them," stressing that "members of Parliament are following up on this issue with the Ministry of Finance for the purpose of bringing it into effect as soon as possible."
He indicated that "projects worth 1 trillion dinars will be added to the oil-producing governorates, 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."
Ministry of Finance.
The MP expressed his hope that "this step will help create investment service projects for these provinces as they are worthy of them," stressing that "members of Parliament are following up on this issue with the Ministry of Finance for the purpose of bringing it into effect as soon as possible."
He indicated that "projects worth 1 trillion dinars will be added to the oil-producing governorates, 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."
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