The Dinar Daily, Sunday April 12, 2015
Page 1 of 13 12311 ... LastLast
Results 1 to 10 of 122

Thread: The Dinar Daily, Sunday April 12, 2015

  1. #1

    The Dinar Daily, Sunday April 12, 2015

    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 84 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.


    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters

    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,

  2. #2

    Re: The Dinar Daily, Sunday April 12, 2015


    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1256.248 1255.620
    British pound GBP 1728.712 1727.847
    Canadian dollar CAD 926.868 926.405
    Swiss franc CHF 1201.071 1200.471
    Swedish krona SEK 134.194 134.127
    Norwegian krone NOK 145.030 144.958
    Danish krone DKK 168.135 168.051
    Japanese yen JPY 9.692 9.687
    Drawing Rights
    SDR 1609.896 1609.091

    Indicative rates - 12.04.2015
    Last edited by sczin11; 04-12-2015 at 09:25 AM.

  3. #3

    Re: The Dinar Daily, Sunday April 12, 2015

    Director of "Reuters" leave Baghdad office after threats

    People crowd gunmen loyal to the Iraqi government forces

    Director of the agency "Reuters" news agency office in Baghdad, Ned Parker, left Iraq after receiving a threat on Facebook, and has been criticized by a television channel belonging to the militia, "the popular crowd," in response to the report, told Reuters last week the deployment details of the executions outside the framework of the law and looting in the city of Tikrit.

    And began threats against Parker on Iraqi page on the Facebook site, run by a group calling itself the "Hammer", an Iraqi security source said he believes it is linked to militias popular crowd.
    After 3 days of broadcast news program on a television channel close to the militias, talking about Parker has his own image, as it accused the journalist told Reuters section tarnishing the reputation of Iraq and his forces backed by the government, and called on viewers to demand the expulsion of Parker.
    This came after a report written by Parker and two of his colleagues in the April 3 separates the "human rights violations" in the liberated city of Tikrit after government forces and militias of the hands of the popular crowd, "state regulation."
    The report also described the incidents of looting and burning of large-scale in the city where local politicians blamed the militias popular crowd.
    A spokeswoman for the "Reuters" The Agency is committed accuracy and fairness in its report. At the request of "Reuters" delete the site "Facebook" threat messages this week.



    People crowd

    Units of the popular crowd

    Iraqi government

    Iraq violence

  4. #4

    Re: The Dinar Daily, Sunday April 12, 2015

    Tourism Parliamentary put relics protection of the House table Law

    {Baghdad: Euphrates News} announced Commission of Tourism and Antiquities in Parliament, on Sunday presenting relics protection law to the Presidency of the Council of Representatives for the purpose of voting on it.

    He said the Commission's decision Hussein Sharifi in a press release and Euphrates News Agency {} received a copy of it today that "the Committee of Tourism and Antiquities parliamentary received protection from the effects of the new law after the government introduced amendments to the Commission in preparation for a vote in parliament soon."

    He stressed that "the law will provide legal cover for the work of archaeologists and specialists that he will see the light soon," urged "Israel and the US to hand over the effects of Iraq's looted or smuggled out of the country during the years of US occupation of Iraq."

    The majority of archaeological sites in the province of Nineveh, and its center of Mosul, located in areas under the control of terrorist gangs Daash which she did earlier in the destruction of the effects of Nimrod Assyrian and selling artifacts to Aforeig.anthy

  5. #5

    Re: The Dinar Daily, Sunday April 12, 2015

    Abadi travel to Washington tomorrow and asks Obama to buy weapons on credit

    Intends to Prime Minister Haider al-Abadi during his meeting with US President Barack Obama on Tuesday in Washington, provide a list of requests for the latter include the purchase of drones and Apache, ammunition and other US weapons worth billions of dollars to fight the organization Daash terrorist and according to a senior Iraqi official told Reuters.

    The agency quoted the Iraqi official, who asked not to be named, as saying that al-Abadi would ask the US president to postpone the payment of the price of the deal.

    For his part, said a spokesman for the National Security Council Alistair Paschi The United States will continue to consult with the leaders of Iraq to ensure they have their needs to fight Daash, pointing out that Washington is committed to providing the necessary equipment for Iraqi security forces, including the Kurdish forces within the framework of the coalition against the Islamic state.

    This is scheduled to go on Monday, Prime Minister to Washington at the head of a senior government delegation at the invitation of US President Barack Obama to discuss the coordination between Iraq and the United States in the war against Daash.

  6. #6

    Re: The Dinar Daily, Sunday April 12, 2015

    Deputy: the southern provinces suffer from a significant lack of investment activity

    Called the official spokesman of the white mass, Sunday, the government in the provinces to the stalled project allocations exchange for several months, despite the adoption of the general budget for this year, stressing the need for contractors such projects make up for the less damage caused to them because of the work stoppage. The former MP Aziz Sharif Mayahi in a statement "the agency Sama Baghdad news" received a copy of "The federal budget has passed for nearly three months, but we do not know what are the reasons that impede the delivery of allocations to provinces and investment projects so far, which caused considerable material damage to contractors supervisors on those Add projects to cut Arzak a large number of families of their employees. " "The investment plans must be given adequate attention to it the basis for development, and because of Iraq, especially the southern provinces suffer from a significant lack of investment activity, which requires the government to focus on the support of these projects work to disable it instead, because of this that he would cause the reluctance of many investors, traders who work in Iraq, making us in front of the big problems may Athmd Akbaha. " He Mayahi "the need to Prime Minister Haider al-Abadi intervention directly with the Ministry of Finance to find out the real reasons behind those Aerqlat in time we find that there are large sums of money spent on things less important was delivering them to other provinces in central and northern Iraq without hindrance," stressing "the need to Contractors compensation for damages caused to them by the stop projects to ensure the sustainability of investment development in the new Iraq.

  7. #7

    Re: The Dinar Daily, Sunday April 12, 2015

    The Ministry of Planning: low inflation index during the month of March by 0.3%

    Independent ... The Ministry of Planning, Sunday, lower inflation for the month of March the index by 0.3%, and rising annually by 0.2% while confirming that he did not include the four Iraqi provinces because of the security situation prevailing.

    He said ministry spokesman Abdul Zahra al-Hindawi said in a statement received by "independent" The Central Bureau of Statistics of the Ministry of Planning, the inflation report for the month of March 2015 was completed on the basis of field data collection on the prices of goods and services components of the consumer basket of selected sample of outlets in all governorates of Iraq "noting that" these rates are calculated goods and services that food and rent, transportation, communications, health, education and other Iktnyh which include consumer. "

    He said: "The inflation for the month of March fell by 03%, while the annual inflation index rose during the month of March compared to the same month of 2014 by 0.2%," attributing it to a decline in food prices Department and non-alcoholic beverages at a rate of 4.5%, compared to prices Department of Housing at a rate of 3.7% in March 2015 compared with the same month of last year. "
    And: "The survey, which was conducted during the month of March did not include the provinces of Nineveh and Salahuddin, Anbar and Kirkuk, because of the security situation witnessed in those provinces."

  8. #8

    Re: The Dinar Daily, Sunday April 12, 2015

    Deputy: the amount of the "520" billion dinars for Basra is not an extra budget

    BAGHDAD / Source News / .. stressed member of the parliamentary finance Jabbar al-Abadi said the amount of 520 billion dinars, which has been allocated to Basra budget is not an extra budget does not fall within the Add amounts.
    Ebadi said in a press statement that "the money transfers fall within the quota of some ministries that the House of Representatives found necessary Bmnaqltha to share Basra"

    Abadi, a deputy from the province of Basra, and pointed out that the Prime Minister gave a challenge to all the amounts that have been transfers were of up to 6 trillion Danarmen before Parliament, including the amount of 520 billion which was allocated to the province of Basra, pointing out that the Federal Court if he decided to accept the challenge head of government in the amounts of carry it represents a disruption to the terms of the Iraqi Constitution, which allowed the Finance Committee and prosecution of money transfers.

    The Communications Minister Hassan Rashed said in an April 5 for the central government to appeal to the elimination of all the articles that have been added by the House of Representatives on the general budget for 2015.anthy / p

  9. #9

    Re: The Dinar Daily, Sunday April 12, 2015

    Chenkali: parties within the political process is trying to weaken the government of al-Abadi

    Erbil, April 12 / Oپrیl (PNA) - accused a member of the Commission on oil and energy parliamentary deputy Majid Chenkali, Sunday, some of the parties in the political process of trying to block the oil agreement between Baghdad and Erbil, in order to thwart the government of Prime Minister Haider al-Abadi.

    He Chenkali that "the Commission on oil and parliamentary power agreed with its counterpart in the Kurdistan region, to form a joint committee to follow up committees formed by the governments in Baghdad and Erbil to implement the terms of the oil agreement between the parties, and there is full commitment from all parties to implement the agreement."

    He added that "there are parties within the political arena, you want to weaken the government of al-Abadi in and the last is seeking to block the implementation of the oil agreement, to create a crisis between the Governments of the Kurdistan and Baghdad, and seeking various ways to put obstacles or interpretation of the positions on the whims, and we said repeatedly that the non-application of the Kurdistan region to the terms of the agreement the full form In the first few months was due to technical problems, but the current situation differed seemed province actually develop its production to reach the agreed quantity, and the Baghdad government has shown good faith by sending the amount of 500 billion dinars for the province. "
    He Chenkali to "the existence of other visits anticipated by the provincial delegation to Baghdad to resolve all outstanding problems and work to implement the terms of the oil agreement in full, and the rest of the other problems that need to be resolved for the ongoing meetings."
    Source: News Agency Baghdad International / WAP


    and from yesterday :

    Deputy for the National confirms the existence of a political consensus to pass the oil and gas law [audio]

    [Baghdad - where]
    Deputy for the National Alliance, said the existence of political consensus between the political blocs to pass the oil and gas law.

    And between Jabbar al-Abadi told all of Iraq [where] that "oil and gas from the important laws law but had previously introduced in the previous legislative session of the parliament did not get agreement on the approval," adding that "in the current session of the House of Representatives, there will be a political consensus to pass the Act by the political blocs. "
    He noted that "there are some remarks about the oil and gas law, but we are waiting for his presentation in the House of Representatives for the purpose of a pass.

    He was a member of the Commission on oil and energy parliamentary Zahid al-Abadi, said 18 of this March, for [where], that " Previous government has sent oil and gas Pencchth amended Act 2011 was sent currently before the Commission on oil and energy to the prime minister and we are waiting for the answer from the government for the purpose of reading within the Committee and submitted to the House of Representatives for the first reading, "adding that" the Council of Ministers demanding to send him to read inside The Committee therefore be submitted to the Presidency of the Parliament for inclusion on the agenda of the House agenda. "

    The oil minister Adel Abdul-Mahdi said in a 12 month in a statement that the absence of a law on oil and gas is the reason to raise the current crises faced by Iraq.

    It is said that the Commission on oil and energy parliamentary received, a letter from the government spends adoption of a draft oil and gas law, the 2011 edition.

    The committee member said Razak Mheibes, told [where], "that" the Commission has not yet with the Presidency decided to read it, adding that the laws that can read Committee, are exempt foreign contractors and secondary, fees contractors on the geographic area within the oil rounds Turakhis

    Comment : The caption / title does not match the content, IMO. Add to the foregoing that it is the National Alliance speaking and the entire matter is questionable. - chattels


    Legislative power: the region produces large quantities of oil, unlike the agreed numbers


    The Commission invited the parliamentary oil and energy, Saturday, the Kurdish region to respect the Constitution and not encroach on the rights of the people, indicating that the region produces large quantities of oil, unlike the figures provided by the oil Ministry.

    Committee member Zahir said Al-Abbadi's/information/, that "no right to Kurdistan to increase oil production without the knowledge of the Federal Government, tough on the need for" respect for the Kurdish Constitution being 10,366 oil belongs to the Iraqi people. "

    He said "must pass the quantities exported from the territory across the company (Sumo) to serve all the people of Iraq," he said, adding "otherwise it will display the same territory of the legal issue and the dispute with Baghdad.

    And a member of the Committee on oil and energy that "the Central Government is committed to reverse Kurdistan's oil agreement are not yet bound by the agreement, adding that" the oil agreement needs a lot of dialogues and debates. "


    Last edited by chattels; 04-12-2015 at 12:08 PM.

  10. #10

    Re: The Dinar Daily, Sunday April 12, 2015

    Deputy: calling on the government not to prejudice the salaries of employees and those with limited income due to his austerity

    Called the National Alliance MP Mohammed al-Masoudi, Sunday, the government not to prejudice the salaries of employees and low-income families and pensioners due to his austerity. He said al-Masoudi in a statement received "agency Sama Baghdad news" that the Iraqi economy can recover from the financial hardship that is going through, as it is the best investment of the rest of the fiscal revenue and reduce expenses Some things are basic. "He continued, that the current trend is focused on the Arab and foreign investment development and trying to attract foreign companies sober, and payment system projects the credit system for the purpose of providing employment opportunities increases the purchasing power of the simple and added to the citizen, the government program focus is in the interests of the middle and lower than the Iraqi people, groups, and therefore the attempt to prejudice the economic its security or reduce support her cause social and economic chaos

Posting Permissions

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