Economy & investment representative calls for activating the customs tariffs and reduce wastage of hard currency
December 17, 2015


Committee member stressed economy and investment representative Burhan Al-mamouri, the need for Customs Tariff Act, reducing wastage of hard currency via import.

Mamouri said in a statement received news that economy "falling global oil prices revealed the wrong policies pursued by previous Governments to rely on oil for general budget support, and not to use surplus funds in the composition of the productive base, whether industrial or agricultural.

"The decline in oil prices has led to a significant shortfall in the financing of the general budget, whether operational or investment, we immediately start to find alternatives and relying on Iraqi products goods, as well as Iraqi ar elmusa cement and steel and reduce imports through customs tariff activation codes and protect local product which reduces wastage of hard currency which drains in import products manufactured locally."

Member of the parliamentary economy noted that "the Commission worked during the whole year with great effort and managed to complete the amended Investment Act which included significant concessions to operationalize this important sector and these privileges included the industrial and agricultural sector and the production of consumer goods."

He demanded the Government curfew "to send the law of private investment in crude oil filter for adoption fact Iraq loses billions of dollars annually importing petroleum products, taking into account the establishment of oil refineries bring significant revenues to the State add to stop the import of petroleum products."

He called on the Government to "reconsider the oil licensing rounds that go bigger benefits oil companies producing habits due to the high cost per barrel produced by these companies with low oil prices making the benefit derived from the oil sector is very low, so you should review these contracts to achieve the benefit of the Iraqi State."