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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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    Saleh: The idea of ​​converting 4 ministries to a self-financing system needs legal amendment

    Rocky
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    Saleh - Saleh: The idea of ​​converting 4 ministries to a self-financing system needs legal amendment Empty Saleh: The idea of ​​converting 4 ministries to a self-financing system needs legal amendment

    Post by Rocky Tue 19 Jul 2022, 5:07 am

    Saleh: The idea of ​​converting 4 ministries to a self-financing system needs legal amendment

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    Economy News _ Baghdad
    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Tuesday, that the idea of ​​converting 4 ministries to the self-financing system needs a legal amendment.
    Saleh said in an interview with "Al-Sabah" newspaper, which was seen by "Economy News", that "the idea of ​​converting 4 ministries into a context that is somewhat similar to self-financing, needs a major legal amendment, because the budget and exchange units are completely central."
    And he indicated that "the idea put forward by Counselor Haitham al-Jubouri is to convert some ministries into revenue, and these revenues cover current operational expenses, as the operational aspect includes current expenses that include employment and salaries."
    He explained that "the current budget has two parts: the first is to operate the administration of the public office and its costs, and the other part is salaries and wages, and the latter is paid into the federal general budget through the operating budget that pays salaries, wages and the cost of operating the budget, which is called, according to the financial literature, the current budget."
    Saleh reiterated that “the proposed idea needs a legal amendment to transform these ministries into revenue ministries, meaning that their services are paid for as if they are a private sector, and this collection pays as salaries to its employees and covers its expenses instead of taking fees and taxes that go as central revenues, and therefore it will be a decentralized revenue, and this ( A hybrid context) because we have self-financing units that are subject to quasi-market rules governed by the provisions of the Public Companies Law No. 21 of 1997 and that these companies make profits that are costs and revenue and work on a revenue-equivalent point that covers the costs with everything in it, so this pattern is called (hybrid public finance) You need to amend a law that entails rights and duties related to retirement and others that reduce public revenues as a cost.
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