At a rate of 13 billion per day… Oil: The volume of electronic sales has increased, and a date has been set for the complete cancellation of cash trading, 19 JAN

At a rate of 13 billion per day… Oil: The volume of electronic sales has increased, and a date has been set for the complete cancellation of cash trading

The Petroleum Products Distribution Company in the Ministry of Oil announced today, Thursday, that the volume of product sales through the electronic payment system has increased to 13 billion per day, while setting the date for the final cancellation of cash circulation.

The company’s general manager, Hussein Talib, said in a statement to the official agency, followed by NRT Arabia, that “the movement of selling petroleum products through electronic payment has risen to 13 billion dinars per day after it was ranging between 10-11 billion, whether at government and private gas stations or Providing generators and agents with gasoline, kerosene, gas, and mobile phones,” pointing out that “the demand for electronic payment is increasing dramatically daily.”

He added, “Our company obligated the electronic payment gateways to nominate employees authorized by these companies to collect money from citizens through electronic payment.”

He pointed out that “the directives of Prime Minister Muhammad Shiaa Al-Sudani set next June of 2024 as the date for ending cash trading and adopting the electronic payment card,” stressing that “the company has a plan to end cash trading at the end of next March, that is, in the quarter.” First of 2024.

He explained that adopting electronic payment and ending cash circulation will serve citizens, ensure that fuel is sold to them at the official price, and preserve state funds from theft and manipulation.

He stated, “Iraq is very late in the issue of electronic payment, as the countries of the world preceded it for a long time in the field of technology and electronic payment. Therefore, the Prime Minister is determined to end cash circulation and adopt the electronic payment system in 2024.”

The Petroleum Products Distribution Company introduced the electronic payment service at gas stations since April 2023, and began gradually spreading the experiment to fuel filling stations in Baghdad and the governorates.

nrttv.com