Monday, March 18, 2024
Iron and Steel Company: Iraq is on the verge of a major industrial revolution, 18 MARCH
Iron and Steel Company: Iraq is on the verge of a major industrial revolution
Economy News – Baghdad
The General Company for Iron and Steel in Basra Governorate revealed, on Sunday, the government’s agreement with a Chinese company to establish an industrial city with an area of 3,000 dunums, and while it considered that Iraq is about to a major industrial revolution, it confirmed that Prime Minister Mohammed Shia Al-Sudani is interested in supporting the iron and steel industry and supporting the local product.
The Director General of the company affiliated to the Ministry of Industry and Minerals, Abbas said, in a statement reported by the official news agency, and seen by “Economy News”, that “there is a great government interest and from the highest executive authority represented by Prime Minister Mohammed Shiaa Al-Sudani with industrial projects, which has been halted for more than two decades, and the General Company for Iron and Steel has stopped since 2003 before it re-works.”
He added, “Government interest does not depend only on the establishment of allocations in the budget law, but there is a personal follow-up from the Prime Minister and through the Minister of Industry and Minerals, for the development and progress of work and achievement and submits a monthly official position to the Prime Minister as he follows up and overcomes obstacles in many matters through quick decision-making and even direct contact with the concerned ministers.”
He added that “our company is not alone specialized in iron and steel, but there are companies in the private sector also producing the rebar material, for example, and we had a meeting with the Prime Minister about two weeks ago under the auspices of the Board of Advisors, and there is a special problem committee to follow up the development of the national industry and the fact that among the demands were the protection of the national product, and the government and the Council of Ministers were rightly supportive and decisions were actually issued to protect the national product, especially armature.”
He noted that “with the large reconstruction and construction movement and the trend to build more than one million housing units, there are existing factories in Iraq and new laboratories currently being built in several governorates, and there is a direction for the government to contract with one of the large Chinese companies in the field of iron and steel, and it was visited in China by a delegation headed by Minister of Industry and Minerals Khaled Batal, and I was one of the members of the Iraqi delegation, and now there are negotiations during this period and two days before there was a meeting in the Ministry of Industry and Minerals.”
He pointed out that “this week we also have meetings with the Chinese company, and this company has been granted three thousand dunums of iron and steel land, and a large industrial city will be built, and this is under the auspices and attention of the Prime Minister, and this will create a great industrial revolution inside the country in addition to the existing factories, including the iron and steel factory, to meet the local need not only at the level of prices, but also in consumer protection and the high quality of the Iraqi rebar produced in our company, and sometimes there is no control over border crossings and some types of rebar are entered that are not within the required specifications.”
He pointed out that “the iron and steel plant in Basra has stopped since 2003 and its energy after completing work in it will reach more than 600 thousand tons and the nodal capacity is more than 500 thousand tons, and we will start production with nodal energies,” pointing out that “during the next few months we will witness the opening of the steel factory that produces (pallet), which is complementary to the (rolling) factory and Iraqi production will meet an important aspect of the national need.”
"RV UPDATE" BY FRANK26, 18 MARCH
Frank26
Article: "An economist identifies the "ideal solution" to reduce the dollar difference between the official and the parallel"
THE ONLY SOLUTION IS A NEW EXCHANGE RATE WITH LOWER NOTES... AND THAT'S EXACTLY WHAT SUDANI & ALAQ ARE SAYING TO THE CITIZENS OF IRAQ!
...JP Morgan representatives at a Chase Banks, why are they there? And why do they have all of these cubicles that they're setting up? ...
They don't even say it's not a scam, they simply say when it happens we're ready for you. The whole mantra/attitude is changing but it doesn't change all at once. It's a slow process. It travels from the east to the west...north to the south. That information is slowly being given to everybody that is going to be involved in this exchange process.
The Prime Minister is going to Washington DC ...He's going to talk to the U.S. Treasury about the new exchange rate...He's talking to it with everybody.
Mid-2024.. Iraq leaves government monetary dealing, 18 MARCH
Mid-2024.. Iraq leaves government monetary dealing
Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, set the date for Iraq to leave government cash dealing and switch to 100% electronic collection.
Saleh told Al-Rabaa, “Government collection began at the beginning of this year, and elec tronic payments have been adopted through cards in various forms, but it takes some time to prepare revenue institutions for electronic payment.”
He expected that “by the middle of this year, the government collection rate will become 100 percent electronic, after important institutions such as the Ministry of Electricity and gas stations begin it, in addition to the gradual adaptation of the rest of the institutions.”
He pointed out that “before the middle of the current year, there will no longer be a government institution that receives final cash, leading to the legal adaptation of electronic payment receipt with the Financial Management Law and the Accounting Systems Law, which are agreed upon and recognized in terms of conformity and compatibility.”
He stressed that “things are going well and accelerating, and the year 2024 will actually be (the year of electronic payment) in Iraq.”
https://alrabiaa.tv/article/81509/81509-%D9%85%D9%86%D8%AA%D8%B5%D9%81-2024..-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%BA%D8%A7%D8%AF%D8%B1-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A-%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A7%D9%8B
"RV UPDATE" BY TEXAS SNAKE, (ENGLISH & SPANISH), 18 MARCH
Friday March 15, 2024
Texas Snake: It says
Tonight I will be making some comments about myself and my participation in Seeds of Wisdom. I have been involved with Salty since the beginning of his creation of this educational forum to provide assistance in determining the facts surrounding this valuation and provide some direction on how one should prepare to optimize monetary gains once this VR occurs.
It has never been my intention to financially benefit or cut anyone off their resources. I say all this because some people are on the edge waiting for this exchange and the purpose of this note is to wait, as we are about to see the climax of this company.
There is no date or time, but the preparations that are being carried out point certainly in our direction. Stay safe and GOD Bless you all for at least reading this and putting up with me.
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TRANSLATION SPANISH
Friday March 15, 2024
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