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KTFA
Clare » December 9th, 2024
Parliamentary Finance: Budget amendment includes only one paragraph related to the region’s oil
12/9/2024 Information / Baghdad..
The Parliamentary Finance Committee confirmed, on Monday, that the amendment to the budget for next year 2025 will include one paragraph (12 Second C) related to the region’s oil.
Committee member MP Moeen Al-Kazemi said in a statement to Al-Maalouma Agency, “The amendment of the 2025 budget does not include paragraphs of the three-year budget law approved by the Council of Representatives, but rather included one paragraph, which is (12 Second C), which relates to the region’s oil.”
He added, “The proposed amendment was scheduled to be prepared for a second reading by the Finance Committee during yesterday’s session, Sunday, but it was postponed due to the absence of the Minister of Finance and the Ministry’s staff for the purpose of final formulation. ”
Prime Minister Mohammed Shia al-Sudani called on the House of Representatives to amend the federal general budget law in order to address the issue of oil marketing in the Kurdistan Region, pointing to the daily fine that Iraq bears as a result of not exporting oil in In accordance with the agreement signed with Turkey. LINK
Head of Parliamentary Finance: We are keen to approve a realistic amendment to the budget that ends the oil dispute with the region
12/9/2024
The Parliamentary Finance Committee, headed by Representative Atwan Al Atwani, hosted the head of the Federal Financial Supervision Bureau, Mr. Ammar Subhi Khalaf, and the senior staff, to discuss the draft of the first amendment to the Federal General Budget Law.
Al-Atwani stressed, according to a statement by the Parliament’s media, a copy of which was received by {Euphrates News}, “the committee’s keenness to approve the amendment in a realistic and implementable manner, in a way that ends the existing dispute between the federal government and the regional government regarding the oil file.”
He also pointed out that the completion of the committee’s work on this amendment is dependent on the presence of the Ministry of Finance to clarify the legal basis for disbursing financial dues to foreign oil companies operating in the region.
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For his part, the Chairman of the Federal Financial Supervision Bureau reviewed the schedule of financial dues between the federal government and the region, stressing the documentation of these dues in the Bureau’s reports, with the addition of notes regarding the delivery of the region’s oil and non-oil revenues to the federal government.
The Chairman of the Financial Supervision Bureau stressed the need for the amendment to include clear mechanisms for liquidating financial advances before the end of the year to avoid their accumulation. He stressed that the agreement based on this amendment is good and implementable, with the need to address the observations referred to.
The senior staff of the Financial Supervision Bureau also provided a briefing on the progress of the procedures for localizing the salaries of the region’s employees, indicating that the localization rate exceeded 80% in the banks accredited by the Central Bank of Iraq, with the end of the year set as the final date for completing the biometric cards to ensure that the problem of duplicate salaries is addressed. LINK
Source: Dinar Recaps
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