Sat. PM KTFA News Articles 9-11-21

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KTFA

Samson » September 11th, 2021

Sovereign Fund

7th September, 2021

Oil is a commodity subject to stagnation at any moment, noting that the global market witnessed severe price collapses, during periods, not far apart, in 2008, 2014, and 2020, and it is also subject to depletion, or dispensing with it when the world discovers sources of energy, less costly. and more efficient, and such signs have begun to loom strongly on the horizon, and in light of these oil repercussions, the lives of future generations in the oil-producing countries seem threatened, because the current generations will nibble all the available wealth, above and below the earth

Hence the importance and necessity of setting controls that guarantee the rights of the successors, and this matter falls on the shoulders of the current governments, and those before them and those who come after them, and on this basis came the idea of establishing the Generations Fund in Iraq. It is true that the step came too late, as it was supposed to be established.

Such a fund has existed since the early years of the emergence of oil, but to come late is better than never, after many countries preceded us in establishing effective sovereign funds, including Kuwait, which is the first country in the world in this field, and there are the UAE, Saudi Arabia and Qatar And many other countries, and it is estimated that the amount of money invested in sovereign funds around the world amounts to (3) trillion dollars, mostly from oil surpluses

Therefore, I think that the remaining three decades of the oil life, stagnating or depleting, may be appropriate to finance the Generations Fund recently announced by the government, through the available financial surpluses, by taking advantage of the price difference between the budget and the real selling price, provided that Reducing the size of the financial deficit in the budget to its lowest level, and if the deficit remains at this level, talking about financing the Fund remains a dream, and reducing the deficit is also linked to the necessity of reducing the ceilings of the massive operating and consumer expenditures that account for three quarters of the state’s public spending

In the event of the inability to reduce the volume of operational spending, due to the massive inflation in the functional body of the state, and the presence of wide doors, in which the exchange cannot be stopped, the matter requires resorting to activating other development sectors in order to reduce dependence on oil, and then the possibility of transferring part of the revenues The oil sector will be transferred to the Generations Fund, which must have an active role in the development process, through its strong contribution, in investing in various fields.

Second, maximizing the revenues of the Fund, to guarantee the rights of future generations, and thus achieving social justice. Such trends are of great importance to be included in the law establishing the Generations Fund, with an emphasis on the transparency of the Fund’s work, and knowledge of its outcomes and paths, its inputs and outputs  LINK

Sadiqoun reveals corruption worth 26 billion dollars: The government is developing the Jordanian economy

11th September, 2021

MP from the Al-Sadiquon Parliamentary Bloc, Hassan Salem, confirmed, on Saturday, that the cabinet is pressing towards developing the Jordanian economy at the expense of the people of the center and the south, revealing the existence of corruption estimated at more than 26 billion dollars.

Salem said, according to his bloc’s media, that “the prime minister is pressing towards extending a pipeline from Basra to Aqaba to develop the Jordanian economy,” noting that “millions of the Iraqi people who hold degrees are sleeping on the land to get a job.”

He added, “Jordan is seeking to obtain Iraqi oil at a low price and then resell it again to Israel,” noting that “the extension of a pipeline from Basra to the Jordanian Aqaba costs Iraq financial losses estimated at 26 billion dollars.”

Salem had previously warned of a major conspiracy to plunder the wealth of the Iraqi people taking place between the prime minister’s office and the Harlow Alliance, owned by a British person of Iraqi origin named Mazen Wajih. LINK

Iraq signs an international anti-corruption agreement

11th September, 2021

The Integrity Commission announced, on Saturday, an agreement to sign a memorandum of understanding between the international and Iraqi academies to combat corruption.

The authority stated in a statement, “Within the framework of strengthening cooperation between anti-corruption academies, and seeking to conclude agreements and memoranda of cooperation between them in the field of training, development, knowledge transfer and skills acquisition, the Federal Integrity Commission President Judge (Alaa Jawad Al-Saadi) met with the Dean of the International Anti-Corruption Academy (Thomas) Stelzer) in the Austrian capital Vienna.

She added, “The meeting, which took place at the headquarters of the International Anti-Corruption Academy, during which it was agreed between the two sides to conclude a memorandum of understanding between the international and Iraqi anti-corruption academies, in order to cooperate in raising the capabilities of workers in the field of anti-corruption in investigation and auditing, and spreading a culture of integrity and transparency, and maintaining On public money, through training and education programs, knowledge transfer and research and studies in this field.

She pointed out, “The two parties also discussed ways to build bridges of cooperation between the two academies in the field of training and development, with a view to facilitating the implementation of the provisions of the International Convention against Corruption, especially what was stated in its chapter Chapter VI – Article (60) entitled Training and Technical Assistance, which provides for: “Each State Party shall, to the extent necessary, introduce, develop or improve training programs for its personnel responsible for preventing and combating corruption.”

And she continued, “The meeting included a discussion of the academic and training capabilities of the two academies and their human and material resources, while Judge Al-Saadi invited the Dean of the International Academy to visit Iraq, while the latter valued the efforts of the Iraqi Academy, after being briefed on its tasks and achievements, especially in the field of training, development and continuing education. He praised Iraq’s leadership in the Middle East by establishing an anti-corruption academy after the international and Malaysian academies.   LINK

Election observers in Iraq from fifty Arab and foreign countries

10th September, 2021

The Independent High Electoral Commission announced, on Friday, September 10, 2021, that the number of international observers has reached more than 500.

Member of the Electoral Commission’s media, Imad Jamil Mohsen, said that there are 150 observers from the United Nations, from Arab and foreign countries, and from the European Union 70 observers, in addition to the role of the Arab League, which will have a major role in monitoring, in addition to the participation of 25 organizations specialized in electoral affairs. Each organization will send its own team.

He pointed out that the Iraqi embassies have invited 51 Arab and foreign embassies, and there are visits by the Board of Commissioners to the embassies of Arab and foreign countries, to send their teams to Iraq, stressing that the number of observers will reach 500 or 600 international observers.

In a separate context, he explained that there are violations that were monitored in several governorates, such as Sulaymaniyah, Basra and Karbala, for example, by placing advertising in a place not designated for it by the municipality or using state departments.

He added that the procedure against violating candidates is to send a warning to the person concerned, and if he does not comply within three days, we will issue a penalty and a fine for him, and sometimes up to prison, as there are some legal provisions that require imprisonment for a period of 6 months for violating candidates. He pointed out that the candidates so far have a high commitment and discipline to the electoral propaganda and the instructions of the Commission, stressing that no transgression against a candidate has been recorded so far.  LINK

An agreement resolves the procedures for implementing the economic city between Iraq and Jordan

9th September, 2021

The Director-General of the Industrial Cities Authority in the Ministry of Industry and Minerals, Hamid Awad Muhammad, told Al-Sabah newspaper, followed by “Eye of Iraq News”: “An agreement has been reached to resolve the procedures for implementing the economic city between Iraq and Jordan within the boundary between them, and at a distance of 500 meters from their borders, and north of the outlet Trebil, located in Anbar Governorate

He added that “the city, which will have an area of four thousand and 800 dunams, with a width of 2000 meters and a length of six thousand meters, will be implemented under a joint administration, and will provide facilities for the industries of the two countries, and will provide 50 to 100 thousand job opportunities for the people of the two countries

And Muhammad indicated that “the economic city includes three main areas: the industrial city, the two free zones, and the logistical support, while the proposed area for the establishment of the area will be 400 acres inside and it is capable of expansion in the future, with the establishment of a similar city on the Jordanian side,” noting that “it will be managed the city jointly after choosing a site for its establishment   LINK

Source: Dinar Recaps

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