Baghdad / Nina / Speaker of the House of Representatives Mahmoud Al-Mashhadani stressed that Iraq enjoys stability and is about to economic prosperity and has returned to its influential role in the region.
Al-Mashhadani said in a televised interview with Al-Iraqiya TV that there are important laws in need of voting, most of which are not controversial, including (personal status and general amnesty).
He added that there is a mechanism within the draft amnesty law that includes only the exit of innocents and the process of conditional exit and is subject to a series of procedures. He pointed out that the law of the status law is only waiting for the subject of the code to proceed with the vote on it, and this code relates to the Shiite component.
He pointed out that the Sunni component does not need a code and they have no problems in proceeding with law No. 188
He explained that there is a consensus to change the retirement law and return it to 63 years.
Al-Mashhadani said that the Popular Mobilization Retirement Law is one of the important laws, and we are waiting for its return from the government, and the dispute over it is political and related to the retirement age.
He added that no law related to the election law has reached the parliament, and there are different opinions on amending the electoral law, including granting 10 percent to independents, and there are other opinions, including making Iraq one district, and others want the province to be one district, while it is more than one district for the governorates that have a large population.
He explained that talking about the election law is premature and is still in the presidency of the Republic
Al-Mashhadani described the adoption of the Amnesty Law as a fortification of the inner house.
Al-Mashhadani pointed out that coordination among the countries of the region is required on Syria to prevent the obtaining of authority, stressing that communication with the new Syrian leadership should be through the government.
He said that we are afraid of an Islamic spring because of leaving Gaza and not stopping the killing in it, indicating that in Gaza there is a wound that will not be healed except by punishing the deceitting rulers.
He added that the Zionist entity is leading Gaza to a war of extermination. /Ended
Member: TNT said it’s definitely on by tomorrow morning.
Member: Mike Bara called it for Tuesday / Wednesday on his show this morning
MZ: I hope they are right. There is a lot of chatter expecting it this week.
Member: I heard Pocket Options is showing the VND and Indonesian Rupiah. (Saw a screenshot.)
MZ: We are seeing the popping up on different aps….IQD and IQD pairings with different crypto pairings….this is big.
Member: I wonder…is it possible for Iraq to rv with Sudani out of the country right now? He is on a state visit to the UK
MZ: Yes Sudani is heading to England today for some dialog. They are discussing going International.
MZ: Still hearing a lot of hope from the bond side who expect things to move between now and the next 8-10-days.
Member: Here we go….. I went to my bank today. I asked if they exchange currency. They replied yes. I asked if they exchange Iraqi Dinar they said yes we do.
The economist, Mustafa Akram Hantoush, described the establishment of the first Rafidain Bank as an “excellent step”.
The Council of Ministers decided yesterday, Monday, to establish the first Rafidain Bank with a capital of one trillion dinars and a government participation rate of 24%.
“The establishment of Rafidain First Bank is an excellent step, especially since it will be a mixed sector company,” Hantosh told “Economy News.”
He added that the new bank will help the country enhance the capabilities of payment and electronic transactions, in addition to that it will be an assistance to the Iraqi Bank for trading in remittances and credits.
MarkZ Update – Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: good Evening….hope Mark got some good news for us today
Member: If they want to confuse us they are doing a great job
Member: TNT said it’s definitely on by tomorrow morning.
Member: Mike Bara called it for Tuesday / Wednesday on his show this morning
MZ: I hope they are right. There is a lot of chatter expecting it this week.
MZ: “The house of Representatives votes to amend the passport law and extend the work of the e******n commission” If you read deeper in the article is states the second reading of the budget law was successful!!
MZ: We did indeed have the second reading today.
Member: Mark, After the 2nd reading doesn’t it automatically go to final(3rd)
Member: According to Frank they are on the third reading now
Member: Second reading successful big checkoff on the list!
Member; I read They don’t need a 3rd reading because it was already in the budget and they just made a change, so they only need 2 reading to pass it.
Member: MM just put out a notification that his video tonight should be taken very seriously
Member: I heard Pocket Options is showing the VND and Indonesian Rupiah. (Saw a screenshot.)
MZ: We are seeing the popping up on different aps….IQD and IQD pairings with different crypto pairings….this is big.
Member: I wonder…is it possible for Iraq to rv with Sudani out of the country right now? He is on a state visit to the UK
MZ: Yes Sudani is heading to England today for some dialog. They are discussing going International.
MZ: “Building a bridge of comprehensive dialog: Revealing the details of the Presidents meeting with leaders of Baghdad” there were meetings with Barzani today along with the Kurdish President.
MZ: “Parliamentary Finance: Banking reforms enhances Iraq’s financial position globally” pay attention to the word “globally” AKA “International”
Member: Anything going on in the Indian Nations?
MZ: Still hearing a lot of hope from the bond side who expect things to move between now and the next 8-10-days.
Member: Here we go….. I went to my bank today. I asked if they exchange currency. They replied yes. I asked if they exchange Iraqi Dinar they said yes we do.
Member: Maybe our last week with empty pockets?? We’re been waiting soooo long!
Member: if the RV doesn’t happen in January, back to the shoebox goes my currency
Member: Jan 15th there will be 7 planets in alignment this only happens every 396 billion years
Member: Never quit everyone….we are very close. The wait will be worth it in the end.
Member: Everyone have an amazing night.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Prime Minister Mohammed Shia Al-Sudani stressed on Tuesday Iraq’s determination to consolidate constructive bilateral relations in various fields, and in a way that promotes the mutual and sustainable interests of the Iraqi and British peoples.
The Prime Minister’s Information Office said in a statement, seen by “Economy News”, that “Prime Minister Mohammed Shia Al-Sudani met the King of the United Kingdom, His Majesty Charles III at Buckingham Palace in the British capital London.”
He added, “During the meeting, bilateral cooperation between Iraq and the United Kingdom was reviewed, and ways to establish a productive partnership in various economic and developmental fields. Cooperation in the field of facing the challenges of climate change and opportunities for enhancing cultural cooperation were also discussed.”
Al-Sudani, according to the statement, expressed “his appreciation for the official invitation he received to visit Britain,” stressing “Iraq’s determination to consolidate constructive bilateral relations in various fields, and in a way that promotes the mutual and sustainable interests of the Iraqi and British peoples.”
For his part, King Charles III welcomed the prime minister, pointing to the depth of the historical relationship between Iraq and Britain, and the outstanding importance that the governments of the two countries attach to developing common interests and understandings at various levels.
😊Okay so here is yet another “WOW!” one. This is another article about these future non-oil revenues. The title of the article is “GOVERNMENT ADVISOR: ASYCUDA SYSTEM IS A VITAL TOOL FOR DEVELOPING CUSTOMS WORK AND BOOSTING INTERNATIONAL TRADE”. Oh… didn’t we address this one before?
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed on Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade. Yes, yes, just do it. But can you?
Saleh told the Iraqi News Agency (INA): “ASYCUDA is a customs data management system developed by the United Nations Conference on Trade and Development (UNCTAD) since the eighties of the last century, as this system aims to simplify and accelerate customs and border crossing operations using modern digital technology, according to the generations of the system applied, including the second advanced generation that relies on cloud digital technology.”
Remember again that this system needs a link to FOREX currency exchange to get the most current, UpToDate rate of currencies in order to calculate the fees. They cannot “fully” implement it without this tie in.
But here is the juicy part of this news today about customs revenues and I quote from the article “in line with the government program to enhance the efficiency of collecting non-oil revenues and make them no less than 20% of total revenues”What did they just say? Did they say customs would be no less than 20% of total non-oil revenues? WOW! WOW! WOW! My jaw is getting tired of dropping so much…. WOW!.
Oh…. But what about the revenues for tariffs? I am sure eventually we will be reading about them too and the percentage of total non-oil revenue they represent.
This news will probably come out when the Port of Faw is fully operating. Also don’t forget about the Development Road Project and what this will mean to Iraq. It will also mean lots and lots of mullah $$$, I mean casholah $$$! 😊
The representative of the Coordination Framework, Mukhtar Al-Moussawi, confirmed today, Tuesday (January 14, 2025), that the House of Representatives is close to voting on the first amendment to the budget law.
Al-Moussawi told Baghdad Today, “There is consensus and agreement to expedite the vote on the first amendment to the budget law, and this matter will be done during the upcoming sessions, especially since the forces of the Coordination Framework agreed on this during their last meeting.”
He added, “This amendment will resolve part of the financial and oil dispute between Baghdad and Erbil, and will also speed up the process of sending the 2025 budget tables from the government to Parliament, and for this reason there is parliamentary interest in the amendment and meetings are ongoing to resolve the points of contention.”
Yesterday, Monday, the Council of Representatives concluded the report and discussion of the second reading of the draft law amending the first federal budget law of the Republic of Iraq for the fiscal years (2023 – 2024 – 2025) No. 13 of 2023.
😊In the next bit of news in an article titled “IT CAN BECOME A MAJOR SOURCE OF INCOME IN THE ECONOMY.. AL-SUDANI DIRECTS THE MATURATION OF TOURISM PROJECTS”.
In the article Al-Sudani directed to work on maturing tourism projects and offering them as a single package, especially since developing this sector will contribute to strengthening and diversifying the national economy by activating vital sectors, including the tourism sector, which the government is keen to activate for the next stage.
He pointed out that tourism and its components are available in Iraq, and it is possible to transform into a basic source in the non-oil economy.
According to the statement, the meeting approved extending an invitation to a Spanish company specialized in tourism development in order to put projects related to this sector into action, as well as to develop the capabilities of specialized tourism cadres and keep pace with the latest developments witnessed by this sector globally.
Twenty one (21) tourism projects were also reviewed, including hotels, resorts, sustainable forests, cities and entertainment complexes in Baghdad and various governorates, which provide attractions, infrastructure and economic feasibility. Folks this is going to be BIG!
I have talked about tourism industry in Iraq many times in the past and we read news about it. So now we can see that Al-Sudani is taking on this non-oil revenue sector seriously and will exploit it to overcome the rentier economy (oil based economy) of Iraq.
Now you add this to the other non-oil sources of revenues and you have a booming economy for Iraq. WOW! WOW! WOW! Are you tired yet of saying WOW? They will soon be filthy rich with little to no debt. They are backing their currency with GOLD too. Oh…. their dinar is at what price? A 1/6 of a penny? Really?
US Secretary of State Anthony Blinken said on Tuesday (January 14, 2025) that “Iran has lost its ability to arm Hezbollah” in Lebanon.
“Hezbollah forces have retreated north of the Litani River and Iran has lost the ability to supply the party with weapons,” Blinken said during his participation in discussions on the Atlantic Council, adding, “Hamas’ military capabilities and its ability to govern the Gaza Strip have been undermined and Iran’s capabilities have declined.”
He pointed out that “the (Bashar) Assad regime has collapsed, and the balance of power in the Middle East has changed significantly, but the situation there is still dangerous.”
Blinken continued, “We can draw a new reality in the Middle East in which everyone enjoys peace and stability, and the conflict in the Middle East affects our bases and forces in the region, and terrorist groups are trying to exploit the situation.”
He pointed out that “Israel was able to destroy the Iranian air defenses, but it faces an unsustainable situation on its northern borders after Hezbollah controlled large areas.”
He noted that, “Our goal was to prevent the outbreak of a regional war in the Middle East and to prevent Hezbollah from posing a threat to Israel. Our principles were that the Gaza Strip under Hamas rule would not pose a continuing threat to Israel and to stop the war in the Strip.”
The US Secretary of State stressed, “We seek to end the war in Gaza in a way that will lay the foundation for lasting peace, and we seek to end the war in Gaza in a way that will advance the legitimate aspirations of the Israelis and a state for the Palestinians,” he said.
He said, “After we realized that Israel’s goal was to undermine Hamas’s capabilities, President Biden worked to achieve a ceasefire agreement,” noting that “Egypt and Qatar reached a final formula for a ceasefire agreement in Gaza, and the ball is now in Hamas’s court.”
“We are working on a plan that includes the day after the ceasefire in the Gaza Strip and how to govern the Strip, and if we reach an agreement on Gaza now or after January 20, it will be an expression of the framework that Biden had set in May,” he added.
He pointed out that “there is a body that will take over the rule of the Gaza Strip the day after the war and will hand over the rule to the Palestinian Authority. After we realized that Israel’s goal of undermining Hamas’s ability to achieve President Biden’s work to achieve a ceasefire agreement, we must ensure that Hamas is unable to rule the Gaza Strip and that the Palestinian Authority, after its reform, takes over the rule of the Strip.”
He stressed that “no one can force Israel to accept a Palestinian state ruled by Hamas or any other extremist organization, and the new agreement must not affect Israel’s security or its status.”
😊In today’s commentary I have to refer first to some “massive” news. Yes, this news was massive. I am talking about the news in the article titled “ECONOMIST: THE CENTRAL BANK’S POLICY IS MOVING TOWARDS GLOBALIZING IRAQI BANKS”. You can find the article in my Articles Section of the Newsletter today.So, let’s take some time and pick this one apart to find out why this news is so massive. Oh…. there is also other very good news for today and I will review this with you also.
In this article economic expert “Safwan Qusay confirmed that the Central Bank’s policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally” also “the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks.”
Yes, “providing guarantees and international compliance” is all insurance related. Remember our Pillars of Financial Reform? Well… here they are again. Investors in Iraq need to know that their funds in Iraqi banks will be protected and not subject to being stolen from corruption or in some cases, as from the past the events, “just disappeared!”.These past events of corruption left a nasty stain on the Iraqi banking system, to which they now have to overcome and are overcoming.
Now here is the real juicy part of the article and I quote “He added that these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world.” What did it just tell us? A million banks around the world? What does this mean to us as investors?
We know that from reading the White Paper of 2019 that conditions to get back to FOREX that this insurance part is a pillar of the financial reform. Therefore, it is a reform that needed to take place and is now taking place.
Also, I want to add that the statement of “changing the Iraqi dinar to any global currency immediately” is an amazing statement. The article goes on to also say and quote “this step will contribute to raising the status of Iraqi banks globally, “meaning that they will succeed in the process of having a name in international financial transfer operations,
and gradually confidence between banks will be strengthened,”
Could this news get any better at this time? Can this be what is holding up the revaluation and the reinstatement? Just asking….
😊 This next article titled “THE DECLINE IN THE DOLLAR PRICE AGAINST THE IRAQI DINAR IN LOCAL MARKETS: IS THIS THE BEGINNING OF STABILITY? is amazing too. It conforms exactly what I have told you would happen from my conversations with my CBI contact when dealing with bringing down the parallel market.
It is as if someone is reading my mind again….lol..lol.. So, didn’t I tell my readers months ago and again more recently, that the parallel market, once they institute the banking transfers through the correspondent banks, (starting Jan 1st 2025) that there would first be a spike in the dollar rate as the initial shortage of dollars in the black market will be a shockwave.
Then as time pressed on, we will gradually see the rate drop and come closer and closer to the “official” CBI rate, something they need to have in order to begin the project to delete the zeros and move ahead to further steps in the currency reform we are waiting to see.
In the news in this article today, “the Iraqi local markets witnessed a slight decline in the exchange rate of the US dollar against the Iraqi dinar, as the selling price of 100 dollars reached 152,000 Iraqi dinars, while the buying price recorded 150,000 Iraqi dinars.
This decline comes in light of the efforts of the government and the Central Bank of Iraq to control the exchange market and enhance the value of the dinar.
”Didn’t the CBI and the prime minister tell us this is the goal – to enhance the value of the dinar? To bring it back to its “glory days”? They are doing it and this last step is going to stabilize it by shutting down the parallel market of selling the dollar at absorbent rates.
In the article it further says that “this decline is attributed to a number of factors, most notably the increased injection of (other) foreign currency into the markets(besides just the dollar),
the imposition of strict controls on exchange operations, and the improvement of financial and economic policies”.
Then the article goes to say the best juicy part of all and I quote – “All eyes will be on the coming days to see how long this decline will last and how it will impact the Iraqi economy as a whole. Are we on the cusp of a period of monetary stability?” I like the phrase “on the cusp”. WOW! WOW! WOW! So, you see folks just be patient it won’t be much longer.
Could this all be what is holding up the revaluation and the reinstatement? Just asking….I was told it is by my CBI contact. Do you remember?
"Al-Eqtisad News" Publishes The Full Decisions Of The Cabinet Session
Money and business Economy News – Baghdad Al-Eqtisad News publishes the full decisions of the second Cabinet session, which was held today, Monday, headed by Prime Minister Mohammed Shia Al-Sudani. The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Al-Sudani chaired, today, Monday, the second regular cabinet session of the current year, during which the general conditions in the country were discussed, important files and priorities of the government program were discussed, in addition to discussing the topics included on the agenda and taking the necessary decisions regarding them." The statement added, "The Council of Ministers voted to exempt retirees from its decision No. (24888) regarding deducting (1%) of salaries to support (Gaza and Lebanon) retroactively, starting from the date of its issuance on November 24, 2024, and to recover the deducted amounts, due to the difficulty of retirees submitting requests for their unwillingness to donate, unlike employees who can submit requests through their departments, and all deducted amounts will be returned." He explained that "within the government's measures in the environmental field, the Council of Ministers approved the recommendations of the report on treating air pollution and the spread of bad odors, which was prepared by the Ministry of Environment, as follows: First: Immediate recommendations, including: 1. Strengthening human resources and logistical infrastructure in the environment directorates, rehabilitating air quality monitoring stations in Baghdad and the governorates, establishing the nucleus of a national center for handling, processing and linking monitoring stations and emission sources, and providing supporting portable devices.
2. Securing the necessary funding to support regulatory activities, establishing a sustainable funding mechanism to support the Ministry of Environment, and allocating part of the state’s general budget to strengthen the environmental inspection system.
3. Polluting activities provide efficient control systems for the polluting emissions resulting from them, provide environmental requirements, and adhere to applicable environmental legislation. 4. Coordination between security and environmental agencies to develop a long-term plan to ensure continued monitoring and closure of violating activities. 5. Using the best available technological solutions to improve fuel combustion efficiency in activities. 6. Participation of security agencies with technical teams to monitor irregular industrial activities that pollute the air, and take legal action against them. Second: Medium and long-term recommendations, which included: 1. Preparing an integrated national program to address air pollution, analyze data, review legislation, estimate health impact, and calculate damage costs, with the participation of relevant parties to achieve sustainable goals. 2. Providing industrial and service activities with fuel treated with a low sulfur content within standard specifications to reduce emissions to the permissible limits. 3. Updating environmental laws and legislation to include the mandatory application of modern technologies in industrial facilities, and developing comprehensive national action plans to reduce air pollution. 4. Supporting scientific studies and research to identify pollution sources and their effects, and developing emission treatment solutions.
5. Afforestation, protection of natural areas and increasing green spaces. 6. Proper waste management, establishing regular landfill sites, encouraging waste recycling, achieving zero waste, setting strict policies, implementing alternative waste management technologies, and raising awareness of environmentally friendly practices. He added that "the Council approved the recommendations of the minutes of the meeting of the Diwani Order Committee (23577) regarding the appointment of educational supervisors and specialists, which stipulate the appointment of specialist and educational supervisors who are graduates of the (Peace, Construction, Creativity and Challenge Course), provided that the deletion and creation are carried out by the Ministry of Finance according to the data sent by the Ministry of Education." He pointed out that "the Ministries of Education and Finance are preparing the criteria for those accepted from among the applicants for work in educational and specialist supervision, based on separating the job grade from the job title."
In order to find a legal formula for the homes of squatters, the Council of Ministers approved the following: 1. The Mayor of Baghdad and the governors shall sell the properly divided residential lands owned by the competent municipality to the squatters who built residential buildings on them before December 10, 2024 (the date of determining the residential units by the population census committees), located within the boundaries of the basic design, as an exception to the public auction, in accordance with the Law on the Sale and Lease of State Property No. (21 of 2013) as amended.
2. The sale referred to in paragraph (1) above requires the following: A- The land must be within the boundaries of the basic design. B- Building from fixed structures. C- Sale to the actual occupant of the property or his heirs whom he was legally responsible for supporting. D - To submit an application to the Municipality Directorate within 180 working days from the date of issuance of the regulations by the Ministry of Construction and Housing. E- The application must be accompanied by a written declaration certified by a notary public stating that the applicant, his spouse, or any of his minor children do not own a residence or a residential plot of land. And - that the sale be for a real consideration estimated by an appraisal committee formed pursuant to Law No. 21 of 2013, as an exception to the public auction. Z - The sale price shall be paid in accordance with the provisions of the above law. 3. It is not permissible to sell more than one piece to the applicant for ownership, and Kirkuk Governorate is not included in the provisions of this decision. 4. The committees formed in the Baghdad Municipality and the governorates, in accordance with Legislative Resolution No. (154 of 2001), shall assume legal responsibility for removing encroachments on municipal lands after the issuance of this resolution.
Within the banking reform procedures, the following was approved: 1. Establishing a new joint-stock bank that relies on the latest technologies, and aims to be a partner with companies and businessmen, whether inside or outside Iraq, and to provide financial and banking services to individuals through an integrated digital experience, and to be a leading bank at the regional level. 2. Naming the bank as the First Rafidain Bank. 3. The bank’s capital shall be (1) trillion Iraqi dinars, and the state’s contribution (government sector, public sector and individuals) shall be (24%) of the nominal capital. 4. The bank shall start with a paid-up capital of no less than (500) billion dinars. 5. Maintaining Rafidain Bank as a financial and basic gateway for implementing all government transactions, while continuing to work on its structure with Rashid Bank through a roadmap for developing Rafidain Bank in coordination with the contracted consulting company, Ernst & Young. 6. Authorizing the Central Bank to contract with a consulting company to establish the new bank, and to provide support in the various founding operations of the bank, its formations and departments. 7. The committee formed under the chairmanship of the Governor of the Central Bank, the General Managers of the Central Bank of Iraq, the General Manager of Rafidain Bank, the Undersecretary of the Ministry of Finance, and the Advisors to the Prime Minister shall coordinate with the consulting company regarding the establishment of the aforementioned bank. 8. Proceed with the plan to transform the Industrial Bank into a private joint-stock company (with a strategic partner). 9. Maintaining the status quo for the Agricultural Bank, the Real Estate Bank, and the Housing Fund. He added that "in the electricity sector, the Council voted to approve the amendment of Cabinet Resolution (393 of 2019), confirmed by Cabinet Resolution (24210 of 2024), which includes the implementation of projects in the electricity system on lands belonging to government agencies after obtaining initial approvals from the owner and other parties, and before completing the allocation procedures or transfer of ownership of the part related to the start of project implementation, in a way that ensures compliance with the Ministry of Finance's directive dated September 12, 2024, as follows: 1- Handing over the lands owned by the Ministry of Finance for the sites of secondary station projects to the Ministry of Electricity (initial handover), and the latter ministry shall undertake the necessary procedures for the project. 2- Forming a working group to expedite the allocation procedures set forth in Paragraph (1) of Cabinet Resolution No. (24210) and registering them with the competent real estate registration departments.
The statement continued, "In order to maximize the state's revenues, the following was approved:
1. Authorizing the Minister of Construction, Housing, Municipalities and Public Works to advertise for renting spaces designated for installing billboards on public road right-of-ways located outside the boundaries of the Baghdad Municipality and municipalities and on bridges.
2. The rental mentioned in paragraph (1) above shall be for one company, a company for each governorate, or multiple companies, as required by the circumstances of the advertisement.
3. Applications are exclusively for companies registered with the Ministry of Commerce/Companies Registration Department specializing in the field of advertising.
4. Rental allowances for advertising spaces shall be estimated by the committees that must be formed in the Ministry of Construction, Housing, Municipalities and Public Works/Roads and Bridges Department, pursuant to the Sale and Lease of State Property Law No. (21) of 2013 (as amended).
He explained that "in order to meet the needs of displaced and returning families and to ease their burden, the Council of Ministers agreed to the Ministry of Migration and Displacement continue to work in accordance with paragraph (1) of Cabinet Resolution (24007 of 2024), which includes the inclusion of these categories in the programs of subsidy salaries, social protection, full-time assistants, and soft loans."
He pointed out that "in the field of energy, the Council of Ministers approved the Iraqi Drilling Company's contract with the companies (EBS and Kosel), the subcontractor of the Iraqi Drilling Company, according to new contractual terms as an exception to the contracting methods stipulated in the instructions for implementing government contracts (2 of 2014) to implement the contract for the project to drill (18) wells."
As part of the government’s measures to complete stalled and suspended projects, the Council of Ministers approved the following:
1. Deleting the non-referred components that did not include the estimated cost amounts stated in the Ministry of Planning’s letter dated December 30, 2024.
2. Deleting the completed components that are not included in Cabinet Resolution No. (301 of 2021) stated in the Ministry of Planning letter referred to in the above paragraph, based on the cumulative expenditure.
3. Deleting the components referred to investment or that have been delivered to the beneficiary and that are not included in Resolution (301 of 2021), based on the cumulative expense.
4. Establish (4) complementary business components shown in the attached table, linking the Ministry of Planning’s letter dated December 30, 2024.
5. Reducing the total cost of the project (establishing 20 model youth and women’s forums in the districts and sub-districts of Baghdad Governorate and the governorates) in the investment budget tables of the Ministry of Youth and Sports for the year 2024, and changing the name of the project to (establishing model youth and women’s forums in the districts and sub-districts of Baghdad Governorate and the governorates, number 14) instead of establishing model youth and women’s forums in the districts and sub-districts of Baghdad Governorate and the governorates, number 20).
The Council of Ministers approved the exemption of the projects (Rehabilitation of the main Dora sewage pumping station) and (Rehabilitation of (22) pumping stations on the Rusafa side) from Cabinet Resolution (24217 of 2024) and their continued financing from the World Bank loan, while ensuring the World Bank’s commitment to financing and emphasizing the Baghdad Municipality to complete the two projects urgently, according to a statement from the media office.
The following was also approved:
1. Financing the Ministry of Finance with an amount equivalent to (390) thousand US dollars, the Republic of Iraq’s contribution to the Arab Labor Organization in the amount of the financial appropriation, based on the provisions of the Federal General Budget Law (13 of 2023).
2. Appointing employees in administrative positions in line with the amount of the Republic of Iraq’s contribution, which amounts to (10%) of the countries’ contributions within the budget approved by the Arab Labor Organization.
The statement highlighted that "the Council voted on the draft law on the Republic of Iraq's accession to the Arab States in Asia Cooperative Agreement for Research, Development and Training in the Field of Nuclear Science and Technology for the year 2017 (ARASIA), which entered into force on July 28, 2020, and referred it to the Council of Representatives, based on the provisions of the Constitution." 114 views 01/13/2025 - https://economy-news.net/content.php?id=51911
