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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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    4.5 trillion dinars electricity debts on ministries and institutions

    Rocky
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    • Post n°1

    4.5 trillion dinars electricity debts on ministries and institutions Empty 4.5 trillion dinars electricity debts on ministries and institutions

    Post by Rocky Tue 03 Sep 2024, 4:52 am

    4.5 trillion dinars electricity debts on ministries and institutions

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    Economy News - Follow-up
    When the government of Mohammed Shia al-Sudani drew up the paths of its economic and financial policy, it clearly had in mind the solution to the most prominent knot and dilemma in the history of the Iraqi economy, namely the “single revenue” or what is known as the rentier system that relies primarily on oil. Since its first day, the government has taken several measures through the Ministry of Finance and the Central Bank of Iraq, such as the “main branch electronic account” to settle government financial transactions and facilitate electronic payment operations.
    Despite the increase in the amount of money collected from state institutions, the reality indicates that this money is below the ambition of the government’s plan, and billions and perhaps trillions of dinars remain unrealistically unactivated as real resources, such as the Ministry of Electricity’s collection money accumulated as debts on state ministries, which amounted to 4.5 trillion dinars. 
    Commenting on this file, member of the Finance Committee of the House of Representatives, Muhammad Nouri, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “the Finance Committee hosted the Minister of Electricity regarding the issue of the ministry’s collection, and he was asked whether the desired goal and what is planned for the 2023 budget had been achieved, as well as 2024 in the first half of it,” explaining that “through the discussions, the committee found that there was a delay in paying the collection by some government departments, as the accumulated debts on government departments and ministries amounted to huge amounts.”
    He explained that "the size of the accumulated debts of the Ministry of Electricity to ministries and state institutions amounted to more than 4.5 trillion dinars, which is one of the reasons for the impact on the work of the Ministry of Electricity, as it depends on funding and revenues generated from collection."
    Nouri added, "The ministry's work was good regarding the issue of collection in the residential, commercial and agricultural sectors with a steady progress and increasing rates, but we expect the ministries to cooperate in paying what they owe to improve the electricity situation."
    He added, "The measures taken by the Finance Committee include working to follow up on the payment of ministries' debts to the Ministry of Electricity, as well as addressing some entities that have very large debts to pay them, and pressuring some entities to add allocations to raise the level of performance of the Ministry of Electricity."
    In turn, the member of the Finance Committee, Jamal Koujar, saw that there are problems in implementing the taxation clause included in the budget by the various ministries, and he pointed out that the taxation in the budget came based on the fact that each ministry has its own resources, but the reality shows that this matter is still just “ink on paper.”
    Koger said, "The Ministry of Finance seeks to transform collection into real resources, and for this reason it has begun to take any dues from any ministry and deduct it from its resources." He added, "There are errors in implementing collection," noting that "the ministries have not yet succeeded in transforming potential resources into actual resources."


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