Economic Proposals To Reduce The Differences Between The Official And Parallel Dollar Price
Information / Baghdad...The researcher in economic affairs, Muhammad Al-Saadi, explained how to reduce the differences between the official dollar exchange rate and the one sold in the parallel market through government procedures and decisions.
Al-Saadi told Al-Maalouma, that "there is a commission that exchange companies receive when buying and selling dollars, and it is assumed that there will be a commitment to the specified commission according to the Central Bank's policies."
He added, "The competent authorities can reduce the demand for the dollar by reducing money transfers and pushing for imports through documentary credits, so that the process of obtaining the dollar at the official price takes place smoothly, away from any complications that push the merchant to resort to the black market."
And he indicated that "there are many options available to the government in order to reduce the withdrawal of the dollar from the markets, especially the parallel one, impose control and monitor any cases of manipulation or speculation, and support the dinar in the local markets, as well as providing more facilities for merchants to push them towards registering on the electronic platform in order to obtain dollars in order to import their goods. LINK
A Parliamentary Committee Reveals The Latest Developments In The Oil And Gas Law: 4 Dimensions In Front Of Its Legislation
Time: 08/31/2023 Read: 2,496 times {Economic: Al Furat News} The Parliamentary Oil, Gas and Natural Resources Committee revealed that the draft oil and gas law, which has been stalled for years, is still "in the process of writing its draft."
Committee member Sabah Sobhi said, in a press statement, "The draft oil and gas law is still in the process of writing its draft, which is the first stage in enacting any law. This law needs a comprehensive political consensus, as it is a sensitive law that needs deep study and discussion by the parties." political".
He added, "The law includes many dimensions, the most important of which is the economic dimension, which is the most important, because the enactment of this law leads to the restructuring of the Iraqi economy, and the second dimension is the legal one, because until now there is a legal vacuum with the existence of a constitutional article related to oil that requires the enactment of a law of its own."
He continued, "As for the third dimension, it is political, given that the issue of the oil commodity is very important from a political point of view, as it is the main revenue on which the economy and the Iraqi state depend, because 90% of the country's budget depends on oil imports, so we need to legislate this law, and another after It is the technical dimension because oil is full of techniques from exploration until we reach sale, so we are in the process of enacting an important, complex, sensitive and fateful law for Iraq.
Many explain the reason for the delay in enacting the oil and gas law to the political dimension that is governed by consensus between the parties to the political process, while relying on the law being approved in the current parliamentary session if it is completed by the government.
It is noteworthy that Prime Minister Muhammad Shia' al-Sudani held a meeting on the second of August to discuss the draft oil and gas law, and witnessed the review of the latest drafts of the draft law, its details and clauses. In the meeting, al-Sudani affirmed that "the draft oil and gas law is one of the basic and important laws, and the law is part of the commitment to the ministerial curriculum. " to his government. LINK Parliamentary Oil: The Oil And Gas Law Is Still In The Process Of Writing Its Draft Energy Economy News _ Baghdad Although years have passed since the talks about the oil and gas law and the arguments about it, it is still a draft of the government and has not been completed yet. It is being relied upon that the law will be approved in the current parliamentary session if it is completed by the government. A member of the Oil, Gas and Natural Resources Committee in the House of Representatives, Sabah Sobhi, said, in an interview with “Al-Sabah” followed by “Al-Iqtisad News”, that “the oil and gas law is still in the process of writing its draft, and it is the first stage in the legislation of any law, as this law needs political consensus.” Comprehensive, because it is a sensitive law that needs deep study and discussion by the political parties. He added, “The law includes many dimensions, the most important of which is the economic dimension, which is the most important, because the legislation of this law leads to the structuring of the Iraqi economy, and the second dimension is the legal one because until now there is a legal vacuum with the existence of a constitutional article related to oil that requires legislation of its own law.” And he continued: “As for the third dimension, it is political, given that the issue of the oil commodity is very important from a political point of view, as it is the main revenue on which the economy and the Iraqi state depend, because 90% of the country’s budget depends on oil imports, so we need to legislate this law, and another after It is the technical dimension because oil is full of techniques from exploration until we reach sale, so we are in the process of enacting an important, complex, sensitive and fateful law for Iraq and for the parties involved in the issue of oil production, since this commodity is linked to the producing region and provinces and it has rights and obligations at the same time Therefore, there must be a conscious and practical view that is compatible with the Iraqi federal constitution.” And Sobhi indicated, “The law is still with the government until now, and there is no official draft by the government, and what is currently in circulation is the draft that was written by the Iraqi Federal Ministry of Oil, and it came from only one party, and this draft must include the ideas of the Kurdistan region and the oil-producing provinces as well.” So that it is integrated and can be discussed in the Council of Ministers and voted on, and then sent to Parliament and work on it. He stressed, “The law is sensitive, and if a political agreement is not reached on it, it will be the same as the previous sessions, but we believe that the current session will be decisive for the law.” He added, “It is true that the conditions are not appropriate for the issuance of the law; But the will of the Prime Minister and the Prime Minister of the region to issue the law exists in order to overcome the problems that Iraq suffers from regarding oil ».
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