The Dinar Daily, Monday November 24, 2014
Page 1 of 7 123 ... LastLast
Results 1 to 10 of 61

Thread: The Dinar Daily, Monday November 24, 2014

  1. #1

    The Dinar Daily, Monday November 24, 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


    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 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
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    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″..

    __________________________________________________ ______________


    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


    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.


    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.


  2. #2

    Re: The Dinar Daily, Monday November 24, 2014

    Market Rate. 1198 !!!

    Currency Auctions
    Announcement No. (2825)

    The latest daily currency auction was held in the Central Bank of Iraq on the 24-11-2014 results were as follows:

    Number of banks 18
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 187,705,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 187,705,000
    Total offers for selling (US$) -----

  3. #3

    Re: The Dinar Daily, Monday November 24, 2014

    Dhi Qar, demanding the release of the Council of Ministers funds petro dollars outside the framework of the budget

    Tomorrow Press / Dhi Qar: Male governor of Dhi Qar, Yahya Mohammed Baqer Nazareth, on Monday, the conservative administration demanded Prime Minister Haider al-Abadi firing funds petro dollars outside the framework of the budget, noting that the province needs the money to fulfill its obligations to provide basic services to citizens, as stressed the need to maintain more money to improve services.

    He said the governor of Dhi Qar, in a statement received by "tomorrow Press", "The Dhi Qar province introduced the Prime Minister to launch funds petro dollars allocated to them, and we are waiting for money petro dollars even if a few."

    "We believe that the approval of the prime minister to release that money can clog least part of the need to maintain services."
    Allocated to the province of Dhi Qar, and estimated the size of the money under the province's exports for 2013 to 118 billion dinars. "

    And the exchange part of the money petro dollars to Basra governor of Dhi Qar, said, "We understand the need for the province of Basra to money petro dollars being binding financial commitments with companies implementing the projects contracted by the petro-dollars within the program." Hoping firing allocated to the province of Dhi Qar money within that program. "

    He was the governor of Dhi Qar, had called last June to launch funds petro-dollars exchange and set up their own account and not be subject to the authentication mechanism on the state budget, stressing the need to maintain for that money for the purpose of improving services and to address the effects of the financial crisis created by the delay in the House of Representatives in the ratification of the general budget. Noting that "the returns of petro-dollars are an important source to supplement the economic system in the province.

  4. #4

    Re: The Dinar Daily, Monday November 24, 2014

    Conscious / 18 docking a ship in the ports of Iraq different tonnage

    Conscious / Baghdad / Iraqi ports received 18 different tonnage of a ship and a variety of nationalities.

    According to the Director of Public Relations and Media and spokesman for the Iraqi ports Tigers net in a statement received (news agency, media / INA) announced today that the commercial port stronghold received central Basra ten ships commercial laden with cement and miscellaneous containers, noting that docked in the port berths steamers:
    Haader .barsomac. Mzrd.rochn / 1.kamal.dria Noor. Zaton.bhmoulat Cement and two ships: Mir / 1. Blessed with a tonnage of NES and the ship waves Caron cargo containers.
    He said, and reached the port of Umm Qasr south of Basra commercial Albachrtan Neopolas -dnas-tonnage containers and the ship Riegel Leader payload cars.

    He continued, received Khor Al-Zubair, south of the commercial port of Basra two ships Rania - Arequen tonnage of variety and fuel tankers Shatt al-Arab - Bandnk Melody - Bouza Ava tonnage of gas oil

  5. #5

    Re: The Dinar Daily, Monday November 24, 2014

    Basra: 7 the conduct of flights between the Gulf and Arab countries every week and plan to attract Lebanese

    Iraqi Airways plane at Basra International Airport

    Detection director of Iraqi Airways in Basra, Jawad Kadhim al-Mayahi, Monday, for the conduct of lines 7 flights between the Gulf and Arab countries and Basra airport a week, as he pointed to the quest lines to attract more visitors to the holy shrines arrivals from Lebanon.

    He said Mayahi in a statement singled out by the Radio tow, that "the flights received by Basra Airport via the wings of Iraqi Airways from Gulf states in particular and the Arab general rate is 7 flights a week, many of whom traveled to visit the holy sites on foot within march crawl two million to perform Visit the death of Imam Hussein (AS) in Karbala. "

    He added that "there is a special demand by Lebanese visitors to visit the holy sites and the rate of three flights arriving from Lebanon to Basra airport in the week."

    He Mayahi "there is coordination with Iraqi Airways in Beirut to attract and accommodate those increasing numbers, as well as providing facilities for them across the Departments of Immigration and Basra International Airport, in the conduct of flight daily average for the transfer of visitors from Basra airport to Najaf airport and vice versa."
    Last edited by sczin11; 11-24-2014 at 09:56 AM.

  6. #6

    Re: The Dinar Daily, Monday November 24, 2014

    Issue Alwani interact .. Sources: Abadi asked support from the US ambassador to keep al-Maliki or imprisonment of corruption cases - See more at:

    I learned 'news agency' of reliable Iraqi sources that Iraqi Prime Minister Haider al-Abadi complained to the US ambassador in Iraq, Stuart Jones from his predecessor, Nuri al-Maliki's attempts to topple the government and undermine the war against 'Daash'.

    She explained close Abadi Office sources told the 'News Agency' The Abadi said the US ambassador to al-Maliki took advantage of his influence in the Iraqi judiciary to issue a rule execution of former Iraqi MP Ahmed al-Alwani Anbar province.

    The sources confirmed that al-Abadi assured the US ambassador that al-Maliki's influence within the judiciary has become a real threat to the political process in Iraq, pointing out that he (Abadi) Contact the judiciary, one day before the issuance of a decision the death penalty against al-Alwani and asked them to defer action on the judgment, which could undermine efforts government to fight the 'Daash', especially if clan Alboalon which belongs former MP is one of the big clans anti Daash and participation in the war against terrorism in Anbar.

    She explained the same sources who declined to give her name said Abadi request the full political support of the US ambassador to open the files of corruption against al-Maliki in order to circumscribe and minimized as a prelude to his imprisonment or forced out for Iraq.

    The al-Maliki began his failure to obtain the support of the political blocs to continue in office for a third term, visits to the provinces of the Shiite, and began firing political statements embarrass Abadi and method of administration of the rule, the most recent statement on the budget and disbursements popular crowd, as well as the question of oil to the Convention between the Government of Baghdad and the Kurdistan region, which on the basis of which is the amount of half a billion dollars to exchange staff salaries region.
    It is known that al-Maliki have a great deal of influence within the Iraqi judiciary, particularly the direct impact on the head of the judiciary Medhat al-Mahmoud, as well as other judges were told that they were acting under orders Maliki in issuing arrest warrants against his political opponents. i8ER.dpuf
    Last edited by sczin11; 11-24-2014 at 10:02 AM.

  7. #7

    Re: The Dinar Daily, Monday November 24, 2014

    The allocation of two billion dinars to promote the reality of tourism and archaeological province of Dhi Qar

    BAGHDAD / ... The Ministry of Tourism and Antiquities and the province of Dhi Qar, on Monday, the allocation of 2 billion dinars, to promote the reality of tourism and archaeological preservation.

    According to Director General of the Department of Relations and Media Qasim Tahir Sudanese in a statement received by the "eye of Iraq News" that "the governor of Dhi Qar Yahya Nazarene promised Minister of Tourism and Antiquities Adel Fahd Alhurcab allocate two billion dinars from the budget to maintain and to support the sectors of Tourism and Antiquities and the advancement of Boaqahma.

    "The minister has welcomed this important step, which will support the Ministry's plans and facilitate the process of upgrading to these vital sectors in the province."

    Noting that "this amount will help in the rehabilitation and maintenance of Nasiriyah Museum that opens after two months from now as well as the development and rehabilitation of ancient city of Ur to receive tourists and bring exploration teams, and the completion of the special festival marshes preparations which will be held on March 26, 2015, as will a lot of efforts to invite the world to visit with ancient history and heritage of this province, which call important tourist and archaeological figures, especially businessmen will be in it and will serve as a message and a call for the return of tourists to the province of Dhi Qar ".anthy 11

  8. #8

    Re: The Dinar Daily, Monday November 24, 2014

    Iraqi Kurds have reached a critical point by starting to sell their own oil as well as making an accord with the Baghdad government, says Genel Energy chief Tony Hayward

    Kurds have created a real chance to make income for themselves by selling their own oil in Iraq and they will probably make more money by selling their own gas, Tony Hayward, the head of Genel Energy, one of the largest companies operating in northern Iraq's Kurdistan Regional Government (KRG).

    "Thanks to the changing discourse of the Baghdad government, Kurds have caught a real opportunity to create their own income by selling their own oil in Iraq," Hayward said, adding that Kurds are unlikely to wait for the approval of the central Iraqi government to sell their own gas, as they selling oil.

    The Baghdad government and the KRG have recently reached a deal to ease tensions over Kurdish oil exports and civil service payments from Baghdad. Under the agreement, Iraqi Kurdistan will contribute 150,000 barrels of oil exports per day, equal to around half of its overall shipments, to the federal budget.

    According to Hayward, the history books will refer to 2014 as a turning point for Kurdish oil and gas for three major reasons.

    "First of all, they have built an infrastructure to carry their energy resources to global markets with Turkey and they managed to sell their oil abroad. Secondly, the Islamic State of Syria and the Levant [ISIL] has arisen and changed the map. The KRG has suddenly found a new neighbor just next to it: ISIL, which controls all export roads for Iraqi oil. So it is now impossible to export Kirkuk oil, which constitutes over 10 percent of Iraq's overall oil production potential, without using the KRG infrastructure. Thirdly, the new Baghdad government has a mindset that is much more open to negotiating with the KRG, "he said.

    Hayward also noted that the KRG now has the required infrastructure to sell gas.

    "There are some really large gas resources in the KRG, just next to Turkey. And it is really low cost to carry this gas to Turkey. The carrying of Kurdish gas to the Turkish market is planned to start by 2017 or 2018 ... Over 20 billion cubic meters (bcm) of Kurdish gas may be carried to the Turkish market by 2025, which will make up 30 percent of the country's gas consumption at that point. Therefore, the KRG's gas market is now most attractive sector for Turkish companies, "he said.

    Hayward said they had recently discovered two huge gas reservoirs in the region, with a potential gas volume of 12 or 20 trillion cubic meters, almost half of the volume of Azerbaijan's Shah-Deniz field.
    Over 25 million barrels of KRG oil have been sold via Turkey up to now, according to Turkish Energy Minister Taner Yıldız.

    "This makes really big money for the KRG, although this amount is lower than the KRG originally deserves based on their constitutional rights. Actually, oil exports from the KRG do not matter so much for Turkey in economic terms, what really matters for Turkey are the KRG's gas exports, "Hayward said.
    The Genel Energy boss also said he does not see ISIL as a "long-term actor" in the region, but stressed that its effects "will be with us in the region for a long time."

    Genel Energy has been steadily increasing its oil production since 2007. It produces 130,000 barrels of oil per day in the Taq Taq oil field, while the amount produced in the Tawke oil field is 110,000 barrels per day, Genel Energy President Mehmet Sepil told Anadolu Agency on Nov. 21.

    "Our target for next year is to increase the total combined production of the two fields to 350,000 barrels per day. We expect a significant rise in our production, "Sepil said.
    Last edited by sczin11; 11-24-2014 at 10:18 AM.

  9. #9

    Re: The Dinar Daily, Monday November 24, 2014

    sczin11- Very interesting article! Read every word!

    Iraqi banknotes damaged
    Kirkuk is considering solving the problem of currencies "shabby" and is working on the application of labor smart card

    Long-Presse / Kirkuk
    Management confirmed the province of Kirkuk on Monday, it was studying coins problem "dilapidated" which is distributed to employees and retirees in the province and is working to resolve them, while confirming that it would work on the application of the smartcard system for departments across the province and to facilitate financial transactions.

    He said the technical aide to the governor of Kirkuk Ali Hammadi said in an interview to, (long-Presse), "The conservative studied, Monday, coordination with the major banks to maintain a (Rafidain and Rasheed) to resolve the problem of coins dilapidated distributed to employees and retirees in the province for the purpose of ensuring facilitate grant Currency trading and financial monetary denominations of 250, 500 and 1,000 dinars and work to replace the crumbling currency and facilitate financial transactions and ensure you get the new currency and creaking transport them to Baghdad. "

    And Hammadi added that "this measure would solve the problem of processing salaries of retirees and employees who get through banking offices or banks on their salaries but the old currency which is difficult for them discharged Btdaullachm daily and for quality assurance currencies processed solve the problem."
    Hamadi said that "Kirkuk province is working on the application of the smartcard system for departments across the province, a circle of 64 to contribute to the deployment of e-business culture and to facilitate financial transactions."

    The Central Bank of Iraq, has been criticized in the (06/09/2014), government banks to be delivered "stale and obsolete banknotes" for state employees, and with the exception of it as "a difficult chance of the market cleaning" of trading these securities, called on banks to "pay the salaries staff of modern printing currency. "
    The CBI attributed, in (October 11, 2013), the existence of scarcity in the small category of good paper currencies in the markets to the weakness in the mechanism damaged receipt, and pointed out that "careful" not to treat citizens or markets, damaged currency, because it works on replaced constantly, while confirmed having great chagrin of those valid currency is ready to put up for trading.

    It is noteworthy that the proliferation of damaged or desolated currency has become a nuisance to many citizens, traders and taxi drivers, because they bothered to deal with any banknotes cut or connected to, as well as that this phenomenon has imposed itself on the circulation of people and led them to accept the deal damaged currency To keep their jobs well.

    It is noteworthy that the smartcard in the Iraq regime seemed the end of 2008, to facilitate the payment of salaries and monthly deduction fits the card holder out of his salary so that he can save the rest in his account, and includes an integrated personal information utilized in the elimination of fraud in the receipt of salaries, adopted two years card In the past two pensions of civilian and military distribution, and covered by social protection network.

  10. #10

    Re: The Dinar Daily, Monday November 24, 2014

    Alusi calling for the abolition of salaries and budgets "astronomical" three presidencies

    Long-Presse / Baghdad

    MP for the Civic Democratic Alliance Mithal al-Alusi, on Monday, to "popular campaign" to enact a law eliminates the MIE and budgets and salaries "astronomical" to the leaders of the three presidencies and their deputies, and replace them with salaries "commensurate with the size of the disaster that Iraq is going through and budget confused," and as he emphasized the need to reduce the salaries of and rewards "special grades and members of the House of Representatives and the ministers," called religious references, scientific and media and cultural bodies to "support the campaign to eliminate the administrative and financial corruption."

    He said Mithal al-Alusi said in a statement released today, and received a (long-Presse) a copy of it, "We demand attribution popular to collect signatures of support for the campaign popular Iraqi responsible call on where each Wad right democratic right of Iraq, we all have the need to meet the three presidencies and decide legislation decision eliminates the MIE and budgets and the astronomical salaries of the President and his three deputies and the prime minister and his deputies and the head of the House of Representatives and his deputies and replace these astronomical salaries commensurate salaries and scale of the disaster that Iraq is going through its budget and confused. "

    He called Alusi to "reduce bonuses and salaries of special grades of whom are also members of parliament and ministers," adding that "the war on al (Daash) and build a state of the citizen and the rights and values ​​that we should highest commitment to constitutional and national values ​​and rationality."

    He said al-Alusi that "everyone should know that the state treasury carved out of financial and administrative corruption and Bashauzh financial and economic did not know her Iraq nor the world unprecedented," pointing out that "one of the biggest sins were also manipulated and consumption balance of the Iraqi and Reserve National by the previous government and its policies wrong harmful" .

    He called al-Alusi, references, religious, scientific, cultural and media agencies to "support the popular national campaign to gather support and signatures to the decision of a national official involved with the people and the politicians to take responsibility for supporting the Iraq and our society and Musharddin and our poor and our future in the elimination of financial and administrative corruption."

    The National Alliance, stressed, in the (August 17, 2014) that the throughput of the media and official site of the Prime Minister-designate, Haider al-Abadi, on the government program and the reduction of ministries and reducing the salaries of deputies, what are the "only perceptions of" informal, indicating that it has formed a committee of eight to put that program about acceptable and other national powers, because it would be "binding" for all.

    It is noteworthy that the last term has seen many claims by both the Shiite Dinh, or by activists civilians, to cancel the salaries of parliamentarians and senior state officials, with positions and privileges, and indicated that it "may not be" granting pensions to persons who are not Daúmyin staff, and demanded that the House of Representatives "enactment of a uniform law for all retirees instead of your organs legislation."

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts