The Dinar Daily, Monday December 8, 2014
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  1. #1

    The Dinar Daily, Monday December 8, 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, Monday December 8, 2014

    Currency Auctions

    Announcement No. (2833)

    The latest daily currency auction was held in the Central Bank of Iraq on the 03-12-2014 results were as follows:

    DETAILS NOTES
    Number of banks 16
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 176,084,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 176,084,000
    Total offers for selling (US$) -----

    Market Rate 1197 !!

  3. #3

    Re: The Dinar Daily, Monday December 8, 2014

    Parliamentary Services: we addressed the relevant ministries to send tables and lagging projects under way



    A member of the parliamentary committee services, Beeston fair, said on Monday that "the Commission addressed the relevant ministries of service, sending tables and lagging investment projects during Almentoagafh years 2013 and 2014".

    Just told all of Iraq [where] that "the exchange of project-specific financial and investment amounts discontinued operations up to the adoption of the budget year 2015," pointing out that "exchange operations shall be in accordance Ll1 / 12, just is not the payment of any sum of money, outside the allocated amount."

    "It will be an inventory of all projects lagging, and study the reasons for the reluctance of those projects, and hold negligent."

    It is said that failure to approve the general budget of 2014 caused a significant deterioration of the economic situation in the country, particularly since the budget deficit reached $ 40 billion, to coincide with the drop in oil prices caused by obstructing the economic wheel of the country are Aama.anthy 2

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3307921&usg=ALkJrhgJ357eVm_fLvuVgafOgrD1pjhSaQ

  4. #4

    Re: The Dinar Daily, Monday December 8, 2014

    MP calls for al-Maliki government to activate the law of the provinces and start Ministerial Baltrchiq



    Tomorrow Press / Baghdad:
    The member of the Committee on Economy and Investment Parliament MP Abdul Salam al-Maliki, on Monday, the government to activate the law of your 21 to grant powers to the provincial councils to take advantage of it to reduce the public going forward deficit for next year through limbering Wazzrrari and dispense a lot of grades that Ava˙dh them only increase the burden of the budget.

    Maliki said in a statement received by "tomorrow Press", "The previous government's objections to the Federal Court focused on a single paragraph of the law relating to the security aspect, therefore, the rest of the paragraphs of the law does not trap them and the right of the current government, especially in light of the difficult economic conditions experienced by the activated country. "

    He added that "there are a lot of ministries that should be canceled in transforming powers to the provinces to implement the requirement of religious authority and necessary during this period, such as ministries of education, agriculture, health and other service ministries, not to mention the presence of advisers have exceeded the budget year 2013 the / 730 / adviser, agents and ministers to prepare It is a large and wasteful extravagance in public money can not be accepted or tolerated more than this because it represented a whole disguised unemployment and an extra burden on the shoulders of the budget. "

    "The activation of the provincial law will give a great moral and economic momentum at the same time to the provinces that feel Balehiv and injustice, exploitation, including Basra and other provinces and that will have a real role in the case of application of the law to activate their rights within the federal government away from the demand for a separate provinces."
    Maliki stressed "the need to activate the Law of the provincial government and move Ministerial Baltrchiq and reduce special grades, agents and advisers if we exceeded winning in the budget deficit and preserve the wealth of the country of corruption and wasteful expenses Consumer Iraq did not benefit the people something."
    It is noteworthy that the state budget for the current year has not yet recognize ago that sent the government for nearly eight months to former House were not included on the agenda, while procrastinated previous Presidency for inclusion due to the lack of political blocs agreement had been returned once again to the government, nor that harassment continues while people wait for things to material related thereto, as well as the stalled projects.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3307943&usg=ALkJrhhDkIrpIPIjwFmswbG9AxX8vsdJww
    Last edited by sczin11; 12-08-2014 at 10:29 AM.

  5. #5

    Re: The Dinar Daily, Monday December 8, 2014

    Conscious / economic expert is expected to increase the purchasing value of the Iraqi dinar taking advantage of the economic strength of the dollar

    The Iraqi Economic Information Center,
    said the growth in dollar prices of natural and foreseeable result of lower oil prices, a result of the strengthening of the US economy and growth of the market as the largest consumer of oil in the world, which determines the growth path in the direction of the oil market.

    The US dollar rose to its highest level in the world five years against a basket of currencies supported by the growth of American jobs.
    Jumped dollar index, which tracks the US currency's value against a basket of six major currencies to its highest level since March 2009.

    The head of the Center lion Muhammad Ali in a press statement I followed (news agency, media / INA), said that "the Iraqi currency pegged to benefit relatively from the economic strength of the dollar and the rising value of purchasing, but the losses resulting from the decline in oil prices is much greater than the gains of the Iraqi economy Limited, which earned its currency strengthened this partial growth rates the dollar. "

    He noted that "growth indicators this will not last long in the light of the current swing in oil prices and the prospect of rising from their lows currently registered," stressing the need to take advantage of this relatively high dollar contract prices relatively less, especially with countries that dropped their currencies relative to the dollar.
    The number of US jobs in November rose to the highest pace in nearly three years and increased wages, which could enhance the motives of the Federal Reserve (the US central bank) to raise interest rates.

    The US Department of Labor last Friday, said that the number of jobs in non-agricultural sectors increased 321 thousand jobs last month, the highest increase since January 2012.
    And settled the unemployment rate unchanged at 5.8 percent, its lowest level in six years, also participate in the labor force - or percentage of Americans rate settled in the working age who have a job or looking for a job - at 62 percent.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3308284&usg=ALkJrhhJlXq5q5iNPne6enN7KLyM0BY2IQ

  6. #6

    Re: The Dinar Daily, Monday December 8, 2014

    Conscious / Ministry of Transport Signs Memorandum of Understanding with the World Bank for the development of the transport sector



    Search Transport Minister Baqir al-Zubaidi with the World Bank delegation headed by Robert Poe quality of the Special Representative of the Mission of the World Bank in Iraq and Ziad Al-Bader, Director of International Finance Corporation in Iraq and Ibrahim Dajani jurisdiction of the oldest in the World Bank's prospects of cooperation between the Ministry of Transport and the World Bank in Iraq on the financing of strategic projects in The ministry, which includes railways, airports and port of Faw sector and open new horizons for cooperation with the World Bank as a major sponsor to bring investment in the region.

    The minister stressed in a statement received (news agency, media / INA) today to take advantage of international expertise and specialized in this field. In order to get up and construction, investment and revitalize the role of the private sector that the State can not advancement without the help or participation of the private sector in order to serve the public interest and goal Many who seek to achieve the indicated sovereignty "One of our priorities at the current stage and future openness fully on investment.

    And then signed a memorandum of understanding between the Ministry of Transport, represented by the art dealer of the Ministry and director of the International Finance Corporation in Iraq (private sector), a representative of the World Bank in Iraq, came to sign a memorandum of understanding to support the partnership between the public sector, the private Iraq sector and encourage the private sector to invest in projects transport that contribute to the development and rehabilitation of the Iraqi transport sector
    For his part, Mr. between art dealer to the ministry that this is very important to note the participation of the Ministry of Transport ((IFC One of the arms of the World Bank concerned with providing advice and provide funding to finance joint projects between the government and the private sector to carry out studies and financial consulting, legal and technical projects for the ministry and contribute to the funding and persuade investors to contribute to it.

    He praised the "IFC director Ziad Bader vision of Mr. Minister in the development of the transport sector and open the doors to investment companies and make it comparable to the advanced transportation sectors in the region in addition to the serious desire to implement projects in accordance with modern and sophisticated strategy.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3308314&usg=ALkJrhitg4J8BZm0zYaAsx4n3gTGFBMLAA

  7. #7

    Re: The Dinar Daily, Monday December 8, 2014

    ​sczin11- Another version of the above... A little clearer! A Real Home Run!

    Transport Minister to discuss with the World Bank mission to develop relations between the two parties




    (Independent) .. Search Transport Minister Baqer al-Zubaidi, on Sunday evening, with the World Bank delegation prospects of cooperation between the Ministry of Transport and the World Bank in Iraq on the financing of strategic projects in the ministry, which includes railways, airports sector and the port of Faw and open new horizons for cooperation with the World Bank as a guarantor a key to attracting investment in the region.

    He stressed Zubayds to take advantage of international expertise and specialized in this field. In order to get up and construction, investment and activate the role of the private sector that the State can not advancement without the help or participation of the private sector in order to serve the public interest and the goal that many seek to achieve.

    He pointed out that "our priority at the current stage and future openness fully on investment.

    The signing of a Memorandum of Understanding between the Ministry of Transport represented by the art dealer of the Ministry and director of the International Finance Corporation in Iraq (private sector), a representative of the World Bank in Iraq

    The signing of a memorandum of understanding to support the partnership between the public sector and the private sector in Iraq and encourage the private sector to invest in transportation projects that contribute to the development and rehabilitation of Iraq's transport sector

    For his part, the art dealer to the ministry that this very note the task of the Ministry of Transport with the participation of ((IFC one of the arms of the World Bank concerned with providing advice and provide funding to co-financing projects between the government and the private sector to carry out studies and financial consulting, legal and technical projects, the ministry and contribute to the funding and persuade investors to contribute to it.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3308445&usg=ALkJrhjSNOSAf1FGdyn5Dcoe_t5kXuOsdA
    Last edited by sczin11; 12-08-2014 at 12:22 PM.

  8. #8

    Re: The Dinar Daily, Monday December 8, 2014


    sczin11- Nice! Keep your eyes out for more on this..

    Cabinet decides to deploy its rules of procedure in the Official Gazette




    To be continued ..

    http://translate.googleusercontent.c...asn04GHopDIbLQ

  9. #9

    Re: The Dinar Daily, Monday December 8, 2014

    The salaries of the three presidencies cost the state 365 million dinars per month



    BAGHDAD / JD / .. detect parliamentary source inside the Finance Committee, the heads of the salaries (the Republic and the Cabinet and Parliament) and their deputies, noting that salaries cost the state 365 million dinars per month.

    The source, who preferred not to be named, told / BD /: "There was a law that sets the three presidencies salaries and then canceled, then the government deems to issue a decision to unify the three presidencies salaries in 2011 and also annulled a decision of the Federal Court, which made there are varying salaries of the three presidencies and their deputies." .

    He added that "According to the information available to us now, the President of the Republic shall receive a monthly salary of 40 million dinars, and his deputies, three of 35 million dinars each and every one of them," he said, adding that "the Prime Minister earns a monthly salary of 35 million dinars, while three of his deputies 30 million dinars."

    He continued: "The President of the House of Representatives shall receive a monthly salary of 35 million dinars, while his two deputies Atkadan 30 million dinars a month," he said, adding that the sum of those salaries amounting to 365 million dinars.

    The President and the Prime Minister and President of the House of Representatives has announced a reduction in salaries and 50% of the face of the financial crisis, especially after the decline in world oil prices and increase the budget deficit in 2015.

    The result of this decision, half of the three presidencies and his deputies' salaries will provide 182.5 million dinars per month for the balance of 2015. / end / 8 /

    http://www.dananernews.com/News_Details.php?ID=5372

  10. #10

    Re: The Dinar Daily, Monday December 8, 2014

    Parliamentary Finance demanding the allocation of 2.5 trillion dinars to increase employees' salaries

    BAGHDAD / JD / .. the parliamentary finance committee demanded, the federal government allocated $ 2 trillion and 500 billion dinars in the 2015 budget for the implementation of the new employees' salaries ladder law.

    Said committee member Rep. Najiba Najib told / BD /: "In the 2013 decision by the Council of Ministers issued an increase of lower grade employees' salaries, and was supposed to be implemented in 2014, has been monitoring his hopes estimated Petrleonin and 500 billion dinars, but because failure to approve the 2014 budget of the project was to migrate to the 2015 budget. "

    She added: "The drop in oil prices and access to figures unexpected prompting the government to form a ministerial committee to consider the expenditure is necessary, which was observed in previous budgets, in addition to the challenges facing the country such as war with terrorist organizations and the issue of displaced persons, and this is what make the state direct their attention to providing big money and adequate security and defense and displaced people and make them a priority for the 2015 budget expenses, either increase the salaries of staff prepared to possibly unnecessary expenses in the budget. "

    Najib considered "increase employees' salaries important and necessary thing at the moment," asking "the government to allocate the amount of Trliunin and 500 billion dinars in the 2015 budget for the implementation of the new salary ladder and increase salaries lower grades" ./ ended / 8 /

    http://www.dananernews.com/News_Details.php?ID=5371

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