The Dinar Daily, Thursday November 13, 2014
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  1. #1

    The Dinar Daily, Thursday November 13, 2014





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 94 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts



    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK



  2. #2

    Re: The Dinar Daily, Thursday November 13, 2014






    Currency Auctions Announcement No. (2816)

    The latest daily currency auction was held in the Central Bank of Iraq on the 10-13-2014 results were as follows:

    DETAILS NOTES
    Number of banks 18
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 173,983,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 173,983,000
    Total offers for selling (US$) -----


    Market Rate 1201.... Yuck !!

  3. #3

    Re: The Dinar Daily, Thursday November 13, 2014

    Saudi security delegation to visit Iraq soon, and Faisal stresses near the opening of the country's embassy in Baghdad



    The Saudi Foreign Minister Saud al-Faisal, President of the Republic Fuad Masum, the Saudi embassy in Baghdad nearest Svetth than you think.
    Al-Faisal said after meeting President infallible in Riyadh that Iraq's support for the Arabs, and Arab supporters of Iraq's stability and unity, adding that he is eager to visit Iraq, noting that the Saudi Embassy in Baghdad, the nearest open than you think.

    In the context of the visit revealed Finance Minister Hoshyar Zebari, accompanying the delegation infallible President, that the security delegation Saudis will visit Iraq soon to see the security situation in preparation for the reopening of the Saudi embassy in Baghdad, among that meetings with Saudi officials touched upon the coordination of efforts in the fight against terrorism.

    http://translate.googleusercontent.c...axWAiGYyEu5iRw

  4. #4

    Re: The Dinar Daily, Thursday November 13, 2014

    House of Representatives held its regular and agenda devoid of the general budget



    House of Representatives held its twenty-eighth regular with the exception of his works of any indication of the general budget of the country's agenda.
    The agenda includes the swearing-in of the members of the House of Representatives who hold government positions and replacements for those who have held a ministerial or vice-president positions.

    It also includes a table read bills, including the draft law on ratification of economic and commercial cooperation agreement with the Republic of Armenia, as well as a project of the Ministry of Health Act.

    http://translate.googleusercontent.c...Fx3aBvfjtHLvvg

  5. #5

    Re: The Dinar Daily, Thursday November 13, 2014

    Nasiriyah Airport will be ready to operate flights within two months



    Tomorrow Press / Dhi Qar confirmed the governor of Dhi Qar, Yahya Mohammed Baqir al-Nasseri, on Thursday, the integration of basic infrastructure of runways and watch towers and radar equipment flight in Nasiriyah civil airport site, and that the airport is not only travelers reception hall and through the main alleyway motorway traffic lacks , emphasized the keenness to maintain the completion of all the requirements of the airport during the next two months to be the conduct of flights.

    He said the Nazarene in a statement received "tomorrow Press", "The Dhi Qar province in dire need of a real aerial port, and project Nasiriyah Airport occupies a priority in the work of maintaining a serious accelerator done, through coordination with the Minister of Transport and the Ministry of Transport and the leadership of the Air Force and the base of Imam Ali air, "pointing out that" Nasiriyah Airport does not currently lacks only qualification to receive the passenger lounge and a main road linking the airport motorway traffic and work in progress on the implementation by direct collaboration with the Ministry of Transport to be running trips during the next two months. "

    He added that "the airport site integrated runways and towers and equipment required for the flight, and other requirements and infrastructure," stressing that "Nasiriyah Airport vital detailed in the development of the province being the basis of the founding of the infrastructure sectors of tourism, investment and development of the oil industry and other companies that require facilities in the field of air transport ".

    For his part, said a member of the Council of the province of Dhi Qar Rajah slave "The governor of Dhi Qar form technical committees and administrative follow-up to the completion of the airport project and its requirements have begun field work committees today at the airport."
    He pointed out that "the province is keen to accelerate work to complete the airport because of its great importance in reviving the economy of the province and projects of investment and absorb large numbers of manpower," pointing out that "the provincial council is serious in the local government's support in the implementation of the airport project and the allocation of the necessary funds for its implementation."

    In turn predicted deputy governor of Dhi Qar for Planning and Human Development Razak Kechiche that "contributes to the completion of the civil airport in the transfer of Dhi Qar province from the local map to the international map and explained, saying that" the availability of a civilian airport and infrastructure religious and archeological tourism institutions discreet electronic government would turn the province Dhi Qar from local and regional to the global map. "

    He was the governor of Dhi Qar announced (September 16, 2014), that the Nasiriyah civil airport project came into force has been formed a joint committee of Dhi Qar province, the Ministry of Transport and the Imam Ali Air Base to provide direct technical requirements for the completion and operation of the airport.
    The governor of Dhi Qar, Yahya Mohammed Baqir al-Nassiri announced 0.28 October 2014, opened the door for the introduction of the choice of 19 pilots from the province to work within the Iraqi Airways after training at Oxford Academy in Britain, as he emphasized that conservative management will conduct a lottery for applicants for the purpose of selection the required number of them.

    It is said that the province of Dhi Qar, based in the city of Nasiriyah, (350 km south of Baghdad) has announced on the fifth of March 2012 for obtaining the approval of the former Prime Minister Nuri al-Maliki on the joint use of the base of Imam Ali air, pointing out that the proposed area to create a civil airport within the base mentioned an estimated 20 thousand square meters.


    http://translate.googleusercontent.c...EpVGCVRP-QT8XA

  6. #6

    Re: The Dinar Daily, Thursday November 13, 2014

    Conscious / Commerce Minister calls for European countries to increase the size of the investment projects in Iraq


    Conscious
    / Baghdad / The Called on the Minister of Commerce Mlas Mohammed Abdul Karim, on Thursday, to deal direct investment and trade between Iraq and the European countries without interference trading intermediaries who is inversely to yield negative business dealings between those countries by not honoring their commitments intermediaries which in turn causes wastage of public money.

    A statement by the Ministry of Commerce received (and the Iraqi News Agency Information / INA), said that "the Minister of Commerce Mlas Abdul Karim met ambassadors of Japan, Turkey and Romania, countries in Baghdad to discuss the possibilities of promoting and developing economic and trade relations between Iraq and these countries and the possibility of activating the joint committees and the signing of agreements offered to negotiate or new memorandums of understanding in various economic and trade fields, which meet the needs of Iraq, especially in regard to the ration. "

    He called Mlas During the meeting, the ambassadors of those countries to "increase the volume of investments for projects inside Iraq and to serve the common interests of all of them."

    For their part, assured the ambassadors of those countries full readiness to cooperate with the Ministry of Commerce to activate the economic and trade relations to meet the needs of Iraq, which is engaged in cleansing their areas of criminal gangs Daash war.
    T / l. AH


    http://translate.googleusercontent.c...g2196TVRXEUiwA
    Last edited by AR Transplant; 11-14-2014 at 02:37 AM.

  7. #7

    Re: The Dinar Daily, Thursday November 13, 2014

    Conscious / Ministry of Labor: Give the smart card for the displaced beneficiaries of social protection network



    Conscious / Baghdad / The Embarked on the Ministry of Labour and Social Affairs to grant the smart card for the displaced beneficiaries of social protection network to enable them to receive the grant amounts network in areas where displaced them from any banking office in all the governorates of Iraq.

    He said senior agent of the Ministry Abdul gentlemen Shenawa in a ministry statement received (and the Iraqi News Agency Information / INA) Fahd that the granting of the beneficiaries of the displaced smart card came to the difficult living conditions they are going through and not having a fixed income can skip Alasttnaah circumstances they are going through and trying to make all efforts and as far as the work to lift the injustice that pain uprooted displaced explaining that the visions and aspirations that Tertsmha ministry list on the basis of humanitarian principles enshrined in the Iraqi constitution therefore instructed the Ministry of Labour and Social Affairs under the guidance Mlakatha and as it comes out in giving displaced people of interest in the file in the methodology of work.

    http://translate.googleusercontent.c...rqFPFsmtA7g5Zg
    Last edited by AR Transplant; 11-14-2014 at 02:38 AM.

  8. #8

    Re: The Dinar Daily, Thursday November 13, 2014

    Basra management is gaining per petrodollar "achievement" to implement their projects and prepared by the council "setback"

    Basra management is access to the petro-dollar funds "achievement" and vows council



    Long-Presse
    / Basra Promised the province of Basra management, on Thursday, that the allocation of cabinet and one petrodollar out of the five that deserve preservation exception to the general budget of 2014 the current, is a "milestone" avoid Basra embarrassment and allows them to move the wheel 25 strategically project, while the provincial council felt that the decision involves the "many problematic", vowing to continue the pressure on the government to launch a full allocations and grants provinces the necessary powers.

    The governor of Basra Majed Nasraoui, in an interview to the (long-Presse), said that "Basra is an exception in the general budget of the country and the allocation of one of the imports of petrodollars have considered a breakthrough for the province and a solution to the dilemma that almost predictable embarrassed in front of their obligations towards the construction projects," noting that "allocated to the province amounts One of the petrodollar allocations for the current 2014, swallow nearly trillion and 43 billion dinars will be delivered in two installments during the next two months that the remaining four bonds are owed by the federal government. "

    He Nasraoui, that "the Ministry of Planning reported conservative management, the share of five dollars of five trillion and 600 billion dinars imports but they (the province) I was surprised that there was no such allocations," adding, "but the Council of Ministers' decision to allocate one petrodollar will allow the province to move the wheel 25 projects strategically related to the infrastructure of the city. "

    For his part, counting the Basra Governorate Council that the allocation of one petrodollar "does not mean that Basra Stskt all right," stressing that it "would make decisions that would put pressure on the government and demanding a full allocation of five dollars."

    The head of the Council Albzona morning in an interview with the (long-Presse), "The allocation of one dollar out of the five that deserve Basra involves many problematic", calling for a "non-receipt of a single amount petrodollar and keep the remaining four have owed the government unless there is a budget Strong believes the payment of the amount due. "

    He explained Albzona, that "the Council will make decisions that will put pressure on the government and demanding the rest of the province's rights," noting that "The Council will be a third party Kmtdharr to challenge the decision of the House of Representatives and the Minister on Law 21 average, to demand the transfer of powers to the provinces under Article 45 and give five dollars and imports from each barrel of product, without fragmentation. "

    And saw the head of the Basra Governorate Council, that "the Council can not be silent about that matter," and accused the federal government of being "not serious about the transfer of powers to the provinces and give them the petro-dollar amounts."

    Turn counting chairman of the Oversight Committee and the financial allocations in the Basra provincial council, Ahmed al-Sulaiti, in an interview to the (long-Presse), that "the allocation of one dollar instead of the five provinces of oil-producing constitute a retreat from what approved by the previous government, a real setback against Basra."

    He Sulaiti, "The launch of one-half dues petrodollar Basra during the year 2014, this involves a lack of clarity because the money can not be spent by the Ministry of Finance unless the approval of the exchange's decision to the very first of December of the year, unless it was intended to grant permission to complete contract until the ratification of the budget process. "

    The Cabinet has instructed the (11th of November 2014 this month), the Ministry of Finance launched 50 percent of the dollar amount per product per barrel of crude oil to the province of Basra, to secure the necessary funds to cover the project as a down payment.

    The Basra Governorate Council revealed in (the seventh of November 2014), about the intention of the federal government's lack of investment allocations disbursed to maintain in 2014 the current, less than half of the material dues and granted, while Basra management demanded the need to exclude the province of "austerity procedures" to enable them to complete their development programs and urban, indicating that the governor will be discussed during the visit of the capital soon.


    http://www.almadapress.com/ar/news/3...7%D9%84-%D8%A7
    Last edited by AR Transplant; 11-14-2014 at 02:38 AM.

  9. #9

    Re: The Dinar Daily, Thursday November 13, 2014

    Six provinces demanding the application of the law lifting the 21 eight ministries link



    Long-Presse / Baghdad Demanded the provincial councils representing six provinces, Thursday, decentralization Loosen eight ministries link to take the local government law a bigger role in the powers, and stressed the need to allocate funds for the training and development of its employees to contract with the US Agency for International Development, as showed that the Council of Ministers meeting acknowledged this issue and will begin in stages , said representative USAID that this meeting is a serious step and the process by local governments.

    The head of the Baghdad Provincial Council Riyad dentex on the sidelines of a press conference held at the Al-Mansour Hotel in Baghdad for a number of media, including (long-Presse), "we asked during our meeting with a number of representatives of local governments, the federal government, as well as local governments to support the project (progress) which is supervised by the agency American development. "

    Dentex and added that "there are ministries covered by this project disengagement and apply only central to take local governments a greater role in the powers and work for development," noting that "this issue will enter into the study with the senior coordinating body in the provincial councils, headed by the Prime Minister."

    Dentex and stressed that "there is a specific period of disengagement for those ministries expires in August of 2015," noting that the "Council of Ministers meeting acknowledged this issue and will begin a phased manner."

    For his part, USAID representative Abdul Karim Hassan said in an interview to the (long-Presse), said, "This meeting is a serious step and the process by local governments, which is currently working with the project (progress), funded by the Agency for Development in the subject of the transfer of powers."

    Hassan added, "has been jobs that are currently ministries analysis and I mean the three ministries that are currently working with are the Ministry of Municipalities and health and education," noting that "there are seven local governments Gary to work with them, which is all of Baghdad, Babil, Najaf, Kirkuk and Diyala, Diwaniya and Wasit, and all representatives Local governments mentioned attending the meeting today. "

    Hassan said that "this meeting was complemented by a precedent for a series of meetings held over the past two years," pointing out that "access to the map can go to work out directly and there are other functions can direct it after a few months."

    For his part, said Diyala provincial council member Abdul Khader Muslim in an interview with the (long-Presse), "The meeting today was a special decoder Eduard eight ministries link and transfer its powers to the local governments."

    He said Muslim "Today we got to the result after the work over the four months of the formation of committees," pointing out that "the amounts allocated will be implemented so we began to search mechanism to find other funds to complete this project, which needs to raise and staff development in the provinces, through conferences and workshops ".

    He said he was a Muslim, "We must provide the funds for this purpose in order to find a contract with the US Agency for International Development, USAID mechanism to support the implementation of projects of local governments."

    It is noteworthy that the local government in Baghdad demanded, in (August 16, 2014), the new prime minister "unzip link", eight ministries of service and the transfer of powers to local governments and the launch of the amounts of petrodollars, as pointed to the need to transfer the secretariat of Baghdad file to the province invited the Prime Minister to support Project Monument in 2000 camera control, pointing to near a conference of conservatives by giving them the authority to demand.

    It is noteworthy that the second amendment to the provincial law No. 21 of 2008, which was passed by the Iraqi Parliament, addresses the overlap between the powers of local governments and the federal government, and gives legislative powers and control "very wide" to the provinces, as well as give them half of its border revenue, and provides for the provinces of oil-producing five dollars instead of one dollar for every barrel of oil produced or repeats them or issued through.


    http://www.almadapress.com/ar/news/3...1-%D9%88%D9%81

  10. #10

    Re: The Dinar Daily, Thursday November 13, 2014

    Bai Hassan oil field in Kirkuk

    Kirkuk, calling on the government to find alternatives to the resumption of oil exports and warns of delay in approving the budget



    Long-Presse / Kirkuk Called the Kirkuk Provincial Council, said Thursday on the government to find alternatives to the resumption of oil exports from the Kirkuk fields, as warned of delays in the adoption of the financial budget for the current 2014 and the implications of the security and economic developments, the United Nations mission called for the support of its position in front of the government to assist the displaced families in the province.

    The head of the provincial council in Kirkuk agency ultra Abdul Majid in a statement issued today, on the sidelines of a meeting with the Director of the Office of Kirkuk to the mission by the United Nations to help Iraq (UNAMI), Daniel Auxtbrker, and received a (long-Presse) a copy of it, "We warn of the repercussions of security and economic developments in the country and the lack of adoption of the budget in light of the current crisis, the incidence of polio in the joints of the urban and economic movement. "

    Abdul Majid and demanded the central government to "find alternatives to the resumption of oil exports from the Kirkuk fields universe oil exports stopped dramatically affect the preservation achieved budget of imports (petro) in addition to the general budget of the country, and thus exacerbate the phenomenon of unemployment at the level of all provinces, including Kirkuk."

    He called Abdul Majeed, the United Nations mission to "accelerate the establishment of the camp, which is long overdue and support the province to Baghdad in the IDP file because of the large pressures occurring as a result of the weakness of support for the federal government in light of the tremendous preparation of displaced families to maintain and which outweigh the capacity to provide the basic needs of her" .

    The statement issued by the provincial council said that "the delegation of the provincial council will visit Baghdad to meet with federal ministries, including the Displacement and Migration to demand the support of the province in this area."

    It is noteworthy that the production of the North Oil Company has fallen dramatically for up to 25 thousand barrels after what was at the beginning of last March to 670 thousand barrels.

    It is noteworthy that the Kirkuk oilfields production decline, from 670 to 25 thousand barrels per day, after the control of the organization (Daash) to Mosul and other parts of the country, some of them in the province, on the tenth of June, as pumping oil from Kirkuk stop to the Turkish port of Ceyhan since March past due to "sabotage" attacks against them.

    Iraq relies on the financial year's balance in the oil and by up to more than 90%, where the Iraqi government announced its 2013 budget and a budget of 138 trillion dinars, which were adopted from exports increased by 2.9 million barrels at a rate of $ 90 per barrel.


    http://www.almadapress.com/ar/news/3...7%D8%A6%D9%84-

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