The Ministry of Oil confirmed, today, Tuesday, that the government is proceeding with the approval of the oil and gas law, 31 OCT

  The Ministry of Oil confirmed, today, Tuesday, that the government is proceeding with the approval of the oil and gas law, while indicating that its approval is subject to consensus.

 The ministry’s spokesman, Asim Jihad, told the Iraqi News Agency (INA): “The ministry prepared the oil and gas law and submitted it to the government, and this law was discussed by the concerned authorities and the team formed by the regional government,” stressing that “the government is committed to approving this law.” Within the current government session, and it is also within the government curriculum.”

He added, "The oil and gas law aims to manage the process of oil wealth in Iraq and achieve fair distribution, and thus achieve optimal investment of national wealth and support economic and sustainable development, as well as support the Iraqi state treasury. Therefore, the government and the ministry are continuing to approve this law."

He explained, "The government has granted a wide space for dialogue regarding the oil and gas law, and the ministry and the government hope that it will be approved," adding, "All points of view are respected, and we must put the national interest above all considerations."

 He pointed out, "There were several dialogues that took place between the concerned authorities, but as far as the ministry was concerned, it drafted the law and made the necessary amendments, in a way that serves the public interest. It remains for the government to submit the draft law after agreeing on it to the House of Representatives for approval."

He pointed out, "The oil and gas law needs consensus to be approved, as the ministry drafted the law and met with the concerned parties. As for the consensual or political aspect, that remains with the concerned parties."   LINK

Democratic Party: Oil and gas law proposals are still under study, 31 OCT

 Democratic Party: Oil and gas law proposals are still under study

The Kurdistan Democratic Party representative, Sharif Suleiman, confirmed that the oil and gas law is still being studied by a mini-governmental committee, which is reviewing proposals from the provinces, political parties, and the Kurdistan Region.

Suleiman mentioned that the oil and gas law is currently being reviewed by a government committee. The governorates have presented their opinions and suggestions regarding the law, and the committee is considering them. In addition, the Kurdistan region has also submitted a proposed law to the committee for their consideration.

During a recent meeting, he mentioned that the State Administration Coalition has put forward five proposals for the oil and gas law. A small committee has been formed to study these proposals and work towards finding a consensus and agreement between the parties that submitted them, despite the lack of agreement on a specific proposal at present.

According to him, the current parliamentary term will not see any resolution of the oil and gas law. Instead, the matter will be postponed until the next legislative term. He emphasized that the law is of utmost importance to Iraq and all its provinces and regions. The law grants each province its entitlements from oil and gas.

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Member Of Parliamentary Finance: Great Reluctance In Budget Decisions And Agreements On The Part Of The Region, 31 OCT

 Member Of Parliamentary Finance: Great Reluctance In Budget Decisions And Agreements On The Part Of The Region

Time: 10/30/2023 12:28:07 Read: 1,339 times   {Economic: Al-Furat News} The Parliamentary Finance Committee clarified, today, Monday, that budget decisions and political agreements are witnessing great reluctance on the part of the Kurdistan region.

Ali Mu'nis, a member of the Parliamentary Finance Committee, told Al-Furat News Agency: “With regard to the delay in releasing financial amounts to the Kurdistan region, because the money file between the governments of the center and the region often arises after approving the budget, there is a dispute regarding the financing of the region’s salaries by the central government.”

He added: "There are obligations under budget decisions and political agreements, as some of these obligations are fulfilled by the regional government towards the central government in terms of oil export dues and the fulfillment of these obligations, which is witnessing great reluctance on the part of the region."   LINK

Al-Shammari: There Are No Sanctions From The US Treasury Department On Iraq, 31 OCT

  Al-Shammari: There Are No Sanctions From The US Treasury Department On Iraq

Advisor to the Prime Minister, Fadi Al-Shammari, denied the existence of sanctions from the US Treasury Department on Iraq due to smuggling the dollar abroad. Al- Shammari said in a press statement, “In the past, we stood in amazement at the money laundering operations in the currency auction, and the cries were rising from all political, social, and popular classes because it was a drain on the economy.” “There were major money laundering operations that benefited countries, organizations, and corrupt people,” he said.

He added, "The launch of the platform is Iraq's entry into the international financial and economic system. There are no sanctions imposed on Iraq by the US Treasury, but sometimes there is a tightening of standards to deliver potential political messages."

He continued, "The security services are on alert to pursue dollar speculators," stressing that "basic foodstuffs were not affected by the price of the dollar."

https://www.radionawa.com/all-detail.aspx?jimare=36120

"RV UPDATE" BY MILITIAMAN, 31 OCT

Dollar gains ground in Baghdad, Erbil, 31 OCT

 Dollar gains ground in Baghdad, Erbil

Shafaq News / The exchange rates of the US dollar against the Iraqi dinar surged in the markets of the capital, Baghdad, and Erbil, the capital of the Kurdistan Region, on Tuesday.

According to Shafaq News Agency’s correspondent, the dollar rates rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges this morning, reaching 161,800 dinars. This marked an increase from yesterday's rate of 161,550 dinars for every 100 dollars.

Our correspondent pointed out that selling prices in local exchange shops in Baghdad escalated, with the selling price reaching 162,750 dinars, while the buying price stood at 160,750 dinars for every 100 dollars.

In Erbil, the dollar also experienced a rise, with the exchange rate in exchange shops for selling reaching 161,700 dinars, and the buying rate at 161,600 dinars for every 100 dollars.

https://shafaq.com/en/Economy/Dollar-gains-ground-in-Baghdad-Erbil