Economic parliamentary: We asked the central bank is implementing a project to delete the zeros

07/10/2013

BAGHDAD / JD / .. confirmed the parliamentary economic committee in the House of Representatives that the committee demanded that the Central Bank is implementing a project to delete the zeros from the Iraqi currency.
He said the Commission's decision MP economic Mahma Khalil Qassem told / JD / day: that the Central Committee had requested to reconsider the project and for purely economic reasons, is to maintain and improve the Iraqi currency against other currencies.
Khalil explained that this project is an old project was discussed in accordance with the laws in force in the central bank, and now a year after the discussion we see that the time is right, especially after the withdrawal of Iraq from Chapter VII of the revival of this project.
The Iraqi Central Bank estimated Estimated cost of the project to delete the zeros from the currency up to 172 billion dinars ..
She said a special study project to delete the zeros received / JD / copy: The speculative total cost of the project to delete the zeros up to a hundred and seventy-two billion dinars "..
The bank said in the study that the wages of transport and insurance of the role of copyright to the Baghdad International Airport up to (140), calculated on the basis of the ratio between the highest and lowest price (90-189) billion dinars from the presentations made by the companies ..
He added that "Estimated cost Mint coins of the new currency amounting to 16 billion dinars," ..
The bank continued, "The wages of cargo transportation, Fridays and public holidays, overtime, etc. amounting to 15 billion dinars," .. He pointed out that the cost of the media campaign and miscellaneous costs up to (1) billion dinars .. He recalled the bank the cost of the replacement process for the period from 15/10/2003 and the Bank of the reasons for the deletion of zeros, the first being that the process of deletion of zeros will be an opportunity to add new properties of the Iraqi currency to prevent potential counterfeiting of the new currency through the use of specifications of high security, leading to increased customer confidence ( and public institutions) as a result of low or no cases of counterfeiting ..
He pointed out that the second reason that the process of deleting the zeros will reduce Alokiem digital currency and financial Almahacbah and may play to reduce the time, effort and cost required to complete financial transactions and accounting as well as the possibility of reducing the number of banknotes traded especially if it were printed banknotes categories big "..
He said the third reason, it enhances the possibility of maintaining the exchange rate of the Iraqi dinar against foreign currencies earned the confidence of dealers. / End / Mona Fatlawi /

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Weights passage of oil and gas law during the current legislative session HCL

07/10/2013


I expected the Commission on oil and energy parliamentary reaching a political consensus helps to pass the law of oil and gas during the current legislative session, especially after the convergence great in views between the province and the center, and then revealed through the existence of the movements of the seriousness of the adoption of the law, stressed its importance in the organization contracts with companies the world, and in the management of that wealth.

The oil and gas law, the main laws of contention between the province and the center, especially in regards to the type of winning contracts, which is likely to center the contracting process in accordance with the principle of service, while the province supports sharing contracts.

Rapporteur of the Commission on oil and gas Mohammad Qasim Mchkta between that all the political blocs, has a serious interest in the enactment of the oil and gas, indicating that the convergence of views happened after the mutual visits of political leaders between the province and the center, which culminated recently visited the region's president, Massoud Barzani to Baghdad, expected to witness the coming period to discuss the law to its importance.

He said Mchkta that there are moves by the Commission on oil and energy to speed up the enactment of this Act, which is likely to witness the coming days, good results on approval, especially with the existence of a collective agreement on the legislation law, expressing optimism about the return of signs legislation important laws to the House of Representatives.

And points of contention in this law, and if they were to reach a solution on them or not, said Mchkta that the points of contention unresolved until now, especially those related to oil wealth, including oil and gas law, and the law of the national companies, and the Revenue Code, and the Law of the Federal Council for Oil and Gas, and the law of the Federal imports, indicating that the points of disagreement on this law is limited and can be discussed and to find common formats to overcome if there were a serious will to resolve.

The MP expressed his hope that include oil and gas law on the Council's agenda, especially after reading this law more than once already, and stop the limits of Article 26, which is the main stations of contention between the province and the center.

Article (26) of the oil and gas law that the legislation passed by the federal legislative authority ستعلو on any other legislation issued by the legislative authority other and that in case of conflict, with the exception Manst in Article (54 b), which is related to the province of Kurdistan.

For his part, member of the Commission on oil and energy Furat al-Shara said oil and gas law, it has not undergone any news of the self, but there developments objective grounds to quickly pass it during this period.

He said al-Shara in an interview »Center Brief for the Iraqi Media Network» that among the developments is the rapid approval of the Act to amend the provincial councils as this law gives the scope and freedom for local governments in the contract or benefit from the wealth carbonate enormous amount interest, because we are afraid in the case of a law oil and gas without the law provincial councils Alaztthmr the wealth this investment Okay. Shara called on the House of Representatives to speed up the enactment of this law for its important role in the organization of the nature of the contracts with oil companies and institutions with the federal government and the provinces.

The MP's visit the region's president is the quality and have raised good because it helps to absorb Aaltotr who was surrounding some of the blocks, and led to the convergence of destinations political relations between the province and the local government through the discussion of some of the laws, including the law of oil and gas, especially since this law is of great significance and come to a conclusion thereon helps to absorb Aaladid the of Alamtaadat.

The dispute is between Arbil and Baghdad on 41 contracts, oil and signed by the provincial government since 2007 until now, you see the central government that any oil contract must be done with their consent, and refused Kurdistan recent draft of the oil and gas law approved by the Iraqi government and sent to the House of Representatives for approval, which was opposed by the Government of Kurdistan strongly.

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