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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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Al-Waeli: The Minister of Finance pledged to facilitate the procedures of petrodollar funds

rocky
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Finance - Al-Waeli: The Minister of Finance pledged to facilitate the procedures of petrodollar funds Empty Al-Waeli: The Minister of Finance pledged to facilitate the procedures of petrodollar funds

Post by rocky Fri 25 Jun 2021, 7:42 am

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Baghdad - INA - Wissam Al-Mulla
The Parliamentary Finance Committee revealed, today, Friday, the details of the meeting that it gathered with Minister of Finance Ali Abdul-Amir Allawi. 
Committee member Majid Al-Waeli told the Iraqi News Agency (INA): "The committee met with Finance Minister Ali Allawi to discuss a number of issues, the most important of which are petrodollar funds," explaining that "the Ministry of Finance was interpreting the issue of petrodollar funds incorrectly, and this resulted in high funds. It is worth tens of trillions."
He added that "the Finance Committee clarified the financial burden of the Petrodollar Fund within the accounts of the Committee, which is 3.5 trillion dinars, one trillion dinars is contained within the budget, and 2.5 trillion dinars remain to be allocated from oil imports, and within the accounts of the Committee that 1.5 dollars for each barrel of oil from It's supposed to go to petrodollars."
He continued, "After this correction, the Minister of Finance expressed his willingness to reverse his decision to stop the implementation of this paragraph, and therefore it will be implemented in order for the oil-producing governorates that have oil activity to be enjoyed by reflecting on service projects and providing job opportunities and service to the citizen."  
He pointed out that "the committee discussed the automation of border crossings and customs," noting that "the Minister of Finance gave us messages of reassurance that the file is in the process of being implemented, and will provide revenues to the state."
And he indicated that "the committee discussed with the minister the appointments and their suspension, and the violations of the law in some ministries."
He explained, "The ministry argues that it does not control the procedures, due to the lack of a clear database, and therefore we indicated that there is an article in the budget stating that the Ministry of Finance, Planning and Communications is involved to launch government identifiers (biometric card) or a functional financial number to control the intersection of information and control the financing of government departments, and within Our expectations are that the largest funding is salaries, and it may be an increase in funding of up to 15% as a result of the lack of control from the ministry over this file, and therefore we expect the funding to decrease and move towards real funding and the real numbers of employees by 15%, which is not a small amount.” 
He pointed out that "the follow-up to the numbers and barcodes placed in the budget was discussed, and so far it is not in control of the Ministry of Finance, in addition to financing projects and investment plans in the governorates, which is also a lagging file, and the ministry argued that all governorates did not complete the investment plans and reconstruction."
And he indicated that, “according to the budget law for the year 2021, the Finance Committee stipulated that investment plans pass through it, but the ongoing projects are not concerned, considering the plans have been in place for years, but are quickly checked and passed to the Ministry of Planning,” noting that “the reconstruction plan for new projects is concerned, and it follows it up.” The committee distributes it correctly to sectors and to all governorates.
He pointed out that "the number of provinces that submitted their plans to the ministry correctly is only three, Karbala, Najaf and Anbar, and the Ministry of Finance is waiting for the completion of the procedures of the remaining provinces so that they can finance the amounts," stressing that "the ministry has no problem with funding, but is waiting for plans from the provinces." ".
He continued, "The committee discussed with the minister the issue of economic security, price control, and the measures taken by the ministry due to the repercussions of the dollar exchange rate and the rise in prices, and the minister indicated that there is a rise in global prices in general as a result of the Corona pandemic, and now prices have begun to stabilize, and we may notice during the coming period." This is reflected in domestic prices, in addition to the failure of the security authorities concerned with economic security and the failure to hold accountable the unjustified rise in prices by importers and traders,” noting that “the Ministry of Agriculture has a ban on many crops that have an actual need for them, and the lack of coverage from the local product.” What caused the price hike?
Yesterday, Thursday, the Media Department of the House of Representatives announced that the Finance Committee discussed three files with Finance Minister Ali Allawi.
The department stated in a statement received by the Iraqi News Agency (INA), that "the Parliamentary Finance Committee hosted the Minister of Finance and Director General of the Accounting Department."
She added, "This came regarding the implementation of the 2021 budget paragraphs and the automation of customs and border ports."

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