Wednesday, January 3, 2024
A Kurdish delegation heads to Baghdad to discuss the 2024 budget and salaries files, 3 JAN
A Kurdish delegation heads to Baghdad to discuss the 2024 budget and salaries files
Shafaq News/ A political source revealed, on Tuesday, that a Kurdish government delegation will head to the federal capital, Baghdad, next week.
The source told Shafaq News Agency, “A Kurdish delegation from the Kurdistan Region will go to Baghdad next week,” noting that “the Kurdish delegation will discuss with government agencies in Baghdad the files of the 2024 budget and the region’s share of it, as well as the delayed salaries of Kurdistan employees.”
Earlier, a delegation representing teachers and employees who met with Federal Prime Minister Muhammad Shiaa Al-Sudani revealed the details of the meeting and the promises made by the latter to improve the living conditions of the citizens of Kurdistan, similar to the rest of the Iraqi provinces.
The delegation confirmed that Sudanese promised to solve the salary problem after submitting the 2024 budget to the Iraqi parliament this month.
"RV UPDATE" BY WALKINGSTICK, 3 JAN
Walkingstick
They didn't print new coins. The old coins they had are still good. That might be one of the reasons why IMO they're going to incorporate it along with the lower denoms at the same time...They have not manufactured any new coins. The CBI is going to use the old coins. Those coins are sitting in the CBI vault...You can throw away fiat. You can throw away paper, the 3-zero notes, but it would be dumb to throw away precious medals. It doesn't have Saddam on it...Coins don't.
By mid-January 2024 the CBI is giving a time frame where the IQD CBI exchange rate will be one in the same as the market rate. That's all that matters. Let's see what that rate is by mid-January. The black market rate will be no longer...that shows great control of the CBI official exchange rate for their currency..All decisions of the Council of Ministers taken in the first session of 2024, 3 JAN
All decisions of the Council of Ministers taken in the first session of 2024
Baghdad – 964
The Council of Ministers held, on Tuesday, its number one regular session in 2024, which witnessed the discussion of the topics on the agenda and the issuance of decisions on them.
A statement of the media office, which the network received 964 copies:
The Prime Minister, Mr. Mohammed Shia’ Al-Sudani, chaired today, Tuesday, the first regular session of the Council of Ministers this year, during which the general situation in the country was discussed, the most important economic and service files included in the government program, discussed the topics related to the agenda, and they took directions and decisions on them.
Coinciding with the anniversary of the martyrdom of the leaders of victory, the Council of Ministers officially approved the name of the street leading to Baghdad International Airport as (Martyr Abu Mahdi Al-Muhandis Street).
In the field of government support for journalists, the Council of Ministers allocated (5) billion dinars to the Journalists Syndicate; to cover the treatment of Iraqi journalists from the elderly, sick and pioneers, and to support their social solidarity, as well as to the solidarity and treatment of the families of the press martyrs, who number more than 500 journalists.
In the field of administrative reform, evaluating general managers and ending the phenomenon of proxy management, in accordance with Article (71) of the Federal Budget Law, the Council of Ministers approved the installation of 99 general managers, based on the provisions of the Civil Service Law No. (24 of 1960), after evaluating them in accordance with the mechanisms and standards ratified and adopted by the Council of Ministers.
In support of the children of the Christian component, and their settlement in their areas, the Council decided the following:
– Approval of the sale of land plots, numbering only (700) pieces, belonging to the Directorate of Al-Qosh Municipality from the residence of the Kasbah and the Christian religion exclusively, based on the provisions of the law on the sale and rent of state funds (21 of 2013) as amended; to stabilize the aforementioned component.
– Putting the sign of non-disposition on the property for a period of (3 years) from the date of ownership, and extinguishing the amounts resulting from the sale, according to the decision of the Council of Ministers (372 of 2019).
The Council also approved the implementation and granting of the investment license to the Ahl Al-Wafa Company for Trade, General Contracting and Agricultural Investments Limited, to establish a (vertical integrated-service vertical housing complex) at a total cost (736.243.600) dollars, on the numbered parts (25/12, 23/75, and 23/76) District 21 Al-Salam in Baghdad Governorate, owned by the House Building Association for officers from the employees of the Ministry of Defense, based on the provisions of the Investment Law (13 of 2006) amended, with the completion of the procedures.
The Council of Ministers voted on the draft law of the second amendment to the Law of the Supreme Authority for Hajj and Umrah No. (23) of 2005, which was audited by the State Council, and referred to the Council of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.
In the electric power sector, the Council of Ministers approved the recommendation of the Ministerial Council for Energy (23108 I) of 2023 regarding the maintenance and operation of diesel stations (North Diwaniyah, East Diwaniyah, East Karbala, and North Amara) – STX Company, as follows:
1. The announcement of the Ministry of Electricity in a tender in the method of pre-qualification.
2. Exclude the Ministry of Electricity from the content of the sixth paragraph of the Council of Ministers Decision (361 of 2022).
The Council also approved the recommendation of the Ministerial Council for Economy (230326) as follows:
1. Approval of the price of (100) thousand dinars per ton of the black oil product prepared to all brick factories.
2. For laboratories (in the public and private sectors) that use black oil in operation and generation, except for what is stated in paragraph (1) above, the processing is at a price of (150) thousand dinars per ton.
3. Unifying the prices of oil products for projects approved by the Ministry of Industry and Minerals and the National Investment Commission, and setting a time limit for implementation, otherwise these factories are closed for a maximum of one year.
In the field of banking sector reform, the Council of Ministers approved the following:
1- Direct contract with (Arnst & Young); to study the restructuring of Rafidain and Rashid banks, make its recommendations on them, and propose a road map in this regard, within 6 months.
2- Direct contracting from the Industrial Bank with the company (Earnst and Young); to study the issue of merging banks (industrial, real estate, agricultural) in one of its specialized experts, and make the appropriate recommendation on it, and determine the time required for the merger and the mechanism of transferring balances to the new bank.
3- Direct contracting from the national insurance company with (Arnst and Young); to study the subject of merging the national insurance company with the Iraqi insurance company, in one of its experts and specialists, and to make the appropriate recommendation on it, and determine the period of time required for the merger and the mechanism for transferring its funds to a new company, with an exception to the instructions for the implementation of government contracts (2 of 2014), and the controls issued under it.
In order to end the file of displacement, it was approved to continue the work of the Council Resolution No. (23466) of 2023; to meet the needs of displaced families returning from displacement and alleviate their shoulders, and the date of June 30, 2024, is the date for the closure of camps and the voluntary return of the displaced, and the formation of a committee of the ministries of migration, displaced persons, education and health, and the Kurdistan Regional Government; to close this file.
The Council of Ministers also approved the following:
First / Approval of the proposals to simplify government procedures submitted by the Prime Minister’s Advisor for Human Development Affairs, within a comprehensive vision to simplify procedures that includes a clear guide, training and preparing employees on them. In this regard, the Prime Minister stressed the importance of the citizen to truly touch the results of this vision and procedures.
Second / Approval of the projects fixed in the paragraphs (I, II, III, IV, V, VI, VIII, ELEVEN, FI) of the recommendations of the minutes of the sixth meeting of the Iraq-Chinese Framework Convention, based on the provisions of Article (2/Axis II/Iraco-Chinese Agreement) of the Federal Budget Law (13 of 2023).
Third, approve the extension of the decision of the Council of Ministers (23035) of 2023, on postponing the collection of customs duties for imported goods and goods in the name of ministries and entities not associated with a ministry, unless the contract provides that the exporter bears those fees, until June 30, 2024.
"RV UPDATE" BY PIMPY, 3 JAN
Pimpy
Here's the thing that everybody is missing. Article: "Government adviser announces entry into force of 2024 budget" Quote: "...the exchange rule 12/1 does not currently exist under the Financial Management Law No. 6 of 2019, as amended until the beginning of 2026." What is Iraq's exchange rule 12/1?
...The 12/1 rule refers to the rate at which the Iraqi dinar is exchanged with the US dollar. 12 Iraqi dinars for every 1 US dollar...Over time the 12/1 rule has been revised several times...1160...in 2003...1170...in 2006...It looks to me like they're trying to say the exchange rate will change in the beginning of 2026.
What is that exchange rate? 12 Iraqi dinars for every $1.00. I think I have 4 million dinars. Divide by 12...that means I have $333,5000. That's what I get when I change in my Iraqi dinar 12 to 1...Take the number of dinars you have, divide by 12 and that's what you will get back.
According to this article that's not going to happen until 2026. Could something happen to expedite that? Of course it could. But they're saying here 2026 is when they expect to review whether or not they change it to the 12/1 rule. My view is this is their wall. [Note: Use the Dinar Guru Calculator to determine how much money you could have. Link is at the top of this page]
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