Parliamentary Finance: budget amendment covers Kurdistan Region's oil extraction, 20 JAN

 Parliamentary Finance: budget amendment covers Kurdistan Region's oil extraction

Shafaq News/ The Parliamentary Finance Committee in Iraq revealed the details of a proposed amendment to Article 12 of the Federal Budget Law.

Committee member Mahasen Hamdoun told Shafaq News “the amendment includes a $16 per barrel cost for extracting oil from the Kurdistan Region, which will be deducted from the region's oil sales”.

She explained that the remaining amount from the oil sales will go to the Iraqi treasury, and the government will then allocate funds to pay salaries for the region's employees.

Several lawmakers have objected to this and called for the inclusion of a provision in the budget that would allocate financial resources to other provinces.

It was noted that the financial allocation for regional development in the 2024 budget is 1 trillion dinars, but only 200 billion dinars have been disbursed so far, leading to confusion in provinces due to the lack of sufficient funding.

Earlier today, the Finance Committee announced it had voted on the proposal to amend Article 12 concerning the export of oil from the Kurdistan Region and production and transportation costs in the Federal Budget Law.

On Sunday, a senior Kurdish delegation, led by Finance Minister Awat Sheikh Janab, arrived in Baghdad to negotiate solutions to the ongoing salaries crisis in the Kurdistan region.

The delegation is set to meet with Iraq's Federal Finance Minister Taif Sami to discuss mechanisms for resolving delays in salary payments, a source in the Kurdish Ministry of Finance and Economy confirmed.

MAJEED UPDATE, 20 JAN

MAJEED 

“Iraqi banks refuse to hand over citizens' deposits under the pretext of lack of liquidity” We know what that means…. Controlling liquidity in the market in Iraq today It’s a fucking party time -----

The war is approaching… Trump will issue an order to use force against a notorious militia because of its threat to American interests in the Middle East, similar to the decision to designate Al-Qaeda in 2001 Hell will reign on those militias

WOLVERINE: THINGS ARE IN MOTION! @DINARREVALUATION #iraqidinarinvestor ...

Iraqi Parliament includes Amnesty Law amendment; Taqaddum Bloc to resume sessions, 20 JAN

 Iraqi Parliament includes Amnesty Law amendment; Taqaddum Bloc to resume sessions

Shafaq News/ The Iraqi Parliament has included the draft amendment to the General Amnesty Law in the agenda for Tuesday's session, Iraqi MP Nayef al-Shammari announced on Sunday. 

Following the Parliament's decision, MP Jamil Abed Sabbak of the Progress Party (Taqaddum) confirmed to Shafaq News Agency that the bloc decided to resume participation in parliamentary sessions after receiving assurances from other political blocs that the Amnesty Law would be included in upcoming sessions.

"Introducing and voting on the Amnesty Law is a crucial step in fulfilling our commitments to the people, particularly in delivering justice to those wronged by unjust judicial decisions or legal violations," Abed Sabbak explained. "However, our stance is clear: we advocate for justice for the innocent, not for those with blood on their hands."

The MP further affirmed, "The Taqaddum bloc views this law as an opportunity to promote fairness, provided it is applied cautiously to ensure that those responsible for serious crimes or acts of violence are not granted impunity."

"Our goal is to offer hope to those affected and strike a balance between justice and social reconciliation."

On January 13th, the Taqaddum bloc decided to boycott Parliament sessions due to the exclusion of the Amnesty Law amendment and non-compliance with political agreements, confirming it would “continue the boycott until the law is added to the agenda.”

The Iraqi Parliament completed the second reading of the Amnesty Law amendment on September 16, 2024. 

About the Law

Sunni parliamentary and political forces continue to press for the passage of the General Amnesty Law, a proposal that has met opposition from Shiite factions due to concerns over the potential release of detainees linked to terrorism charges. Since the formation of PM Mohammed Shia Al-Sudani’s government, this law’s fate remains uncertain. Despite an agreement to enact it, observers point to a lack of political will, particularly within the Shiite Coordination Framework (CF), which is believed to be delaying the law’s progress and backtracking on prior commitments made to Sunni forces to secure their support for the new government.

Sunni blocs conditioned the passage of this law during negotiations to form the State Administration Coalition, which included the CF, and Kurdish and Sunni blocs, leading to Al-Sudani's government. Sunni MPs maintain that the government’s program includes enacting the Amnesty Law, canceling security checks in their provinces, and addressing the suspension or abolition of certain entities that have contributed to significant tensions.

TIDBIT FROM BRUCE, 20 JAN

 Bruce 

 [via WiserNow]

  I got a text...it said that the dinar, the Iraqi dinar, which is the linchpin of all of the currencies that are going up in value, ...was on the Forex...

[Thursday] morning at 4.19 and since that time, it increased up on the forex to 4.52...and it's probably still going up...  

it doesn't mean our rate is going to be there, or even the bank rate is going to be there. It could be higher, and I know it is higher now than that, even at the banks. 

FIREFLY: Forex would be international and like you want, the float!! @DINARREVALUATION #iraqidinar

 

Parliamentary Finance votes on the proposed amendment of paragraph 12 of the budget law, 19 JAN

 Parliamentary Finance votes on the proposed amendment of paragraph 12 of the budget law

The Finance Committee announced on Sunday the vote on the proposed amendment of paragraph 12 of the Federal Budget Law, as stated by the government.

The committee announced earlier today, near the vote on the amendment of Article 12 of the budget related to Kurdistan Region oil, while referring to the most prominent proposals submitted to amend this paragraph.

The head of the committee, Atwan Al-Attwani, said in a speech during a meeting of the committee, according to a statement received by {Al-Furat News} that “the meetings of the committee continue to discuss the amendment of Article 12 of the budget law on Kurdistan Region oil,” noting that “the committee has reached the final stages of completing hosting, and stating many information in preparation for voting on the amendment on this day.”

He added that “it is necessary for there to be a decision from the committee to raise the draft law to a vote,” expressing his hope that “the vote will be agreed on this complementary draft of the 2023 budget.”

He pointed out that “there are a number of committee members who put forward a lot of paragraphs and submitted proposals, and we will put them forward for everyone to be aware of them, but it cannot be added considering that the draft is an amendment and not budget tables,” noting that “the opinion of the committee from the beginning is to proceed with the amendment of the law, but we do not want the items and amendments to be unproductive amendments like previous ones.”

He explained that “the committee added to the paragraphs of the amendment to oblige the parties, whether the Ministry of Finance or the Ministry of Oil Resources, to comply with the outputs of the consulting company,” stressing that “there must be an obligation for both parties.”

Al-Atwani concluded by saying, “The consulting company must have a period of work that may end in 2025, and has not achieved results,” stressing that “we are keen to apply the results during this year to be the rule for 2026.”

https://alforatnews.iq/news/المالية-النيابية-تصوت-على-مقترح-تعديل-الفقرة-12-من-قانون-الموازنة