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Parliament supports a doubling of the capital of the Income-Generating Projects Fund and hosts the Minister of Finance
Shafaq News/ The Finance Committee of the Iraqi Parliament announced, on Tuesday, its adoption of a proposal to support the Income-Generating Projects Fund within the country's private sector.
The committee said in a brief statement today, that it also supports "the fourfold increase in the fund's capital."
It is noteworthy that the small projects of income-generating youth projects are launched by the Ministry of Labor and Social Affairs from time to time through a financial fund allocated by the federal government.
And the credit rating agency, "Fitch", had recently announced in a report that Iraq had increased unemployment with the entry of the Covid-19 pandemic, which worsened the situation in it.
On a parallel level, the Finance Committee, headed by Hassan Karim Al-Kaabi and in the presence of its members, held a meeting today, Tuesday, to complete the discussions of the emergency support law for food security and development and to put forward important notes and suggestions before submitting it to a vote.
Al-Kaabi began the meeting with a presentation on the articles of the law, stressing the need to develop appropriate formulas that meet the aspirations and needs of citizens as a result of the financial abundance achieved from the excess funds in the country, indicating that the law will support job creation and the movement of projects.
During the meeting held at its headquarters, the committee read the paragraphs of the law in order to put the final touches and address some of the texts contained therein and reach the final version, in addition to setting ceilings on revenues and spending, the issue of repaying the realized loans and canceling the borrowing paragraph.
During the meeting, Parliamentary Finance focused on sectors: ration card support, support for agricultural crops, wheat, barley and rye, payment of farmers’ dues, payment of electric energy wages, payment of oil payments, support for governorate projects according to population ratios, social welfare and people with special needs to improve and increase the amounts allocated to them.
He directed Al-Kaabi to host Finance Minister Ali Abdul-Amir Allawi to ask some questions about the law and how to open a special account to transfer the allocated amounts and funding sources.
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The committee said in a brief statement today, that it also supports "the fourfold increase in the fund's capital."
It is noteworthy that the small projects of income-generating youth projects are launched by the Ministry of Labor and Social Affairs from time to time through a financial fund allocated by the federal government.
And the credit rating agency, "Fitch", had recently announced in a report that Iraq had increased unemployment with the entry of the Covid-19 pandemic, which worsened the situation in it.
On a parallel level, the Finance Committee, headed by Hassan Karim Al-Kaabi and in the presence of its members, held a meeting today, Tuesday, to complete the discussions of the emergency support law for food security and development and to put forward important notes and suggestions before submitting it to a vote.
Al-Kaabi began the meeting with a presentation on the articles of the law, stressing the need to develop appropriate formulas that meet the aspirations and needs of citizens as a result of the financial abundance achieved from the excess funds in the country, indicating that the law will support job creation and the movement of projects.
During the meeting held at its headquarters, the committee read the paragraphs of the law in order to put the final touches and address some of the texts contained therein and reach the final version, in addition to setting ceilings on revenues and spending, the issue of repaying the realized loans and canceling the borrowing paragraph.
During the meeting, Parliamentary Finance focused on sectors: ration card support, support for agricultural crops, wheat, barley and rye, payment of farmers’ dues, payment of electric energy wages, payment of oil payments, support for governorate projects according to population ratios, social welfare and people with special needs to improve and increase the amounts allocated to them.
He directed Al-Kaabi to host Finance Minister Ali Abdul-Amir Allawi to ask some questions about the law and how to open a special account to transfer the allocated amounts and funding sources.
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