Al-Sudani reveals the “reasons” for the rise in the price of the dollar and admits to a legal proble

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[size=52]Al-Sudani reveals the “reasons” for the rise in the price of the dollar and admits to a legal problem: We need strict penalties[/size]

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2023-10-24
Prime Minister Muhammad Shiaa Al-Sudani revealed, on Tuesday evening, the reasons for the rise in the exchange rate of the US dollar against the Iraqi dinar, and while he acknowledged the need for “strict” legal penalties against currency speculators, he pointed out the presence of private banks and money changers seeking to maintain dollar prices. High.[/size]
[size=45]Al-Sudani said during the weekly press conference, “There are problems in banking reform and major challenges facing the government, and the current dollar exchange rate in the markets is the price of currency speculators.”[/size]
[size=45]He added, “There are private parties, banks, merchants, and owners of banking companies who are seeking to keep the dollar exchange rate at the current price.”[/size]
[size=45]Al-Sudani stressed, “We support some banks that we trust are good and have achieved success, in order to be part of the solution,” adding, “One of the problems we face is that Iraqi law does not contain strong and strict penalties against those who are arrested as speculators at the dollar exchange rate.” “.[/size]
[size=45]He pointed out that “despite the high exchange rate of the dollar, food prices are stable and good, and the government will take on the role of some merchants in some matters. There is also a good initiative to provide medicines from global origins for chronic diseases and sell them in the market at subsidized prices, as well as construction materials that we will provide and sell.” At a subsidized price, this will force traders and speculators to reduce the price of the dollar in the market.”[/size]
[size=45]On the other hand, Al-Sudani pointed out that “the Development Fund is one of the important projects that we adopt and is supposed to have a special law, and the Fund project was included in the budget law.”[/size]
[size=45]He said, “Today this fund was voted on, and this is a glimmer of hope for the Iraqi economy. This fund will be exclusively for the private sector and will provide investment opportunities. One of its priorities is building schools with approximately a thousand schools, and after that it will have a role in other sectors such as industry, environment, and housing.”[/size]
[size=45]Regarding the electricity file, Al-Sudani explained, “The costs of producing electricity are very high, and the government today has given the green light to the Ministry of Electricity to adopt very modern electronic systems to measure the wages of electric energy consumption. We will take into account those with limited income according to a specific mechanism. This system will contribute to preventing the waste of electricity and provide energy stability.”[/size]
[size=45]He stated, “There will be a trial for these organizations in 10 regions, with 10 sectors in each region, and 50,000 subscribers in each sector. They will receive electricity 24 hours a day.”[/size]
[size=45]He stressed that “these systems will be under the supervision of major companies, and the Prime Minister and the Iraqi government have granted the Ministry of Electricity a license to contract with companies. There will also be a treatment for any defect in reading consumption fees recorded by the systems in a short time, and there will be teams dedicated to addressing any defect in record time.” “.[/size]
[size=45]In another context, Al-Sudani said, “On the 27th of this October, a full year will have passed since the formation of the government, and we asked the House of Representatives to be a host to talk about the achievements and failures that have been achieved since the formation of the government until now.”[/size]
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