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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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Importing improved gasoline wasted millions of dollars

rocky
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Importing improved gasoline wasted millions of dollars Empty Importing improved gasoline wasted millions of dollars

Post by rocky Sun 13 Feb 2022, 5:46 am

[size=52]Importing improved gasoline wasted millions of dollars[/size]

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 Baghdad: Huda Al-Azzawi

Economists have warned of the huge financial waste resulting from Iraq's import of improved gasoline, which is estimated at millions of dollars, especially with the 35% government subsidy during sales inside the country, calling for the speedy completion of the current derivatives refineries and the establishment of giant refining stations to meet the market need.
The economic expert, Maytham Laibi, said in an interview: “Iraq loses large sums of money from the process of importing (improved gasoline) from abroad and reselling it in the local market, which may reach a monthly average of 70 million dollars, (it is imported at a price of approximately 1000 dinars, and it is sold at 650 dinars). , and certainly this represents a great loss and a drain on foreign exchange, especially in an oil country like Iraq, which should be concerned with the issue of producing oil derivatives locally in order to export them instead of importing them, a dilemma the country faces due to the weak production capacity of Iraqi refineries in exchange for the large demand for gasoline to meet daily demand.”
And he indicated that "the demand for (improved gasoline) is increasing as a result of government support for it, which reaches 35%, in return for reducing its price to approach the price of regular gasoline."
For his part, the economic expert, Dr. Faleh Al-Zubaidi, said: “The increase in imports with the absence of non-oil exports leads to a major imbalance in the Iraqi economy, because Iraq depends on the export of only one major commodity, which is oil, and this commodity is subject to fluctuations in the volume of demand.”
With regard to the transportation sector, the expert said: “The price of improved gasoline was high, so many citizens were reluctant to buy this type, which was priced at 850 dinars per liter, so petrol stations that depended only on this type stopped working, forcing the Ministry of Oil to reduce The price of improved gasoline in order to market it,” stressing that “this indicates that there are confusions in the government’s economic policies and that they are not studied.” For his part, the oil expert Hamza Al-Jawahiri saw that what some are circulating about the great losses that are incurred by Iraq as a result of importing improved gasoline is a kind of “intimidation,” explaining in an interview with “Al-Sabah”: “We have the Basra refinery, which is being worked on in advanced stages, and the Dora refinery.” And the Karbala refinery with a capacity of 140,000 barrels, and it is supposed to be completed this year, and these three refineries can supply Iraq with all its needs of gasoline.”
He pointed out that “one of the positive things about importing gasoline is to preserve the environment, and the crisis that occurred in Basra recently was due to the delay in shipments.” With regard to the closure of gas stations that sell regular gasoline to the citizen, Al-Jawahiri stressed that this is “unfounded.”
And the economist, Manar Al-Obaidi, had recently revealed that Iraq lost 700 million dollars within 9 months due to subsidizing improved gasoline, indicating that “the state subsidizes improved gasoline at 35% of its price, and does not subsidize basic foodstuffs for the poor citizen,” calling for Building giant refining stations with this wasted money by importing gasoline.
While the economist, Ihsan Al-Kinani, warned of a new crisis for the citizen, especially taxi owners, due to the transformation of some gas stations to (the improved) and the cancellation of (excellent) gasoline sold at 450 dinars per liter.
 Editing: Muhammad Al-Ansari
Disclaimer: All published articles represent the opinion of its authors only[/size]
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