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Official: $ 25 billion is the value of the accumulated sums of the Iraqi "petrodollar" fund
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direct: The Parliamentary Oil and Energy Committee in Iraq announced that the accumulated sums from the "petrodollar" fund for previous years are estimated at $ 25 billion.
The committee revealed today, Saturday, the allocation of one trillion dinars to the petrodollar fund for oil-producing provinces, according to the Iraq News Agency, "INA", today, Saturday.
A member of the committee, MP Sadiq Al-Sulaiti, said, "The petrodollar is an entitlement for the oil-producing and refined crude and gas-producing provinces," indicating that the project allocates 5 percent of the oil revenues to improve the infrastructure of those provinces.
He pointed out that "the petrodollar did not enter into force during the previous years despite its confirmation in the budgets, because the funds were not allocated by the ministries of planning and finance, under the pretext of a financial deficit or the lack of sufficient liquidity," stressing that "there have been accumulations of petrodollar sums during previous years that are estimated. About 25 billion dollars. "
He pointed out that "his committee sought during the current year to amend and include the paragraph on petrodollar allocations in the budget, by establishing a fund after approving the budget," indicating that "accounts for the fund will be opened that will be fed monthly from oil revenues."
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A member of the committee explained that “a trillion dinars have been allocated for petrodollars,” indicating that “in the event that the Ministry of Finance does not open accounts for the fund and feed it with revenues, the ministry will be subjected to legal accountability, whether by the governorates or members of Parliament, for not applying the most important provisions of the budget.”
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May 08, 2021 03:16 PMdirect: The Parliamentary Oil and Energy Committee in Iraq announced that the accumulated sums from the "petrodollar" fund for previous years are estimated at $ 25 billion.
The committee revealed today, Saturday, the allocation of one trillion dinars to the petrodollar fund for oil-producing provinces, according to the Iraq News Agency, "INA", today, Saturday.
A member of the committee, MP Sadiq Al-Sulaiti, said, "The petrodollar is an entitlement for the oil-producing and refined crude and gas-producing provinces," indicating that the project allocates 5 percent of the oil revenues to improve the infrastructure of those provinces.
He pointed out that "the petrodollar did not enter into force during the previous years despite its confirmation in the budgets, because the funds were not allocated by the ministries of planning and finance, under the pretext of a financial deficit or the lack of sufficient liquidity," stressing that "there have been accumulations of petrodollar sums during previous years that are estimated. About 25 billion dollars. "
He pointed out that "his committee sought during the current year to amend and include the paragraph on petrodollar allocations in the budget, by establishing a fund after approving the budget," indicating that "accounts for the fund will be opened that will be fed monthly from oil revenues."
[ltr]
Volume 0%
[/ltr]
A member of the committee explained that “a trillion dinars have been allocated for petrodollars,” indicating that “in the event that the Ministry of Finance does not open accounts for the fund and feed it with revenues, the ministry will be subjected to legal accountability, whether by the governorates or members of Parliament, for not applying the most important provisions of the budget.”
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