Iraqi Economy News

Wednesday AM Iraq Economy News Highlights 6-29-22

 

A deputy reveals what Al-Sadr City will “benefit” from the Food Security Law

 

Sumerian special  2022-06-29 | 04:44  Source:  Alsumaria news   1,377 views  Today, Wednesday, MP Mohan Al-Saadi confirmed that the food security law will include Sadr City in all its unserved sectors, while noting that the work will be supervisory and executive.

 

Al-Saadi said in an interview with Alsumaria News, “The Emergency Support Law for Food Security and Development is one of the most important upcoming development points forBaghdadespecially andIraqIn general.”

 

And he continued: “Amen Baghdad Ammar Musa Kazem He confirmed during our meeting with him that the Food Security Law will include ASSADAR city In all of its unserved sectors, as well as the serviced sectors in all of its open projects.

 

Al-Saadi pointed out, “The main point that Amin focused on Baghdad The work should be supervisory and executive with a unified and successful team for a better future ASSADAR city”.   LINK

 

Oil Prices Are Falling Again

 

Economie   2022-06-29 | 02:10   545 views   fell, today, Wednesday, after rising in the previous three sessions, but losses were limited due to the view that global supply scarcity will continue as there is limited scope for major producers such as Saudi Arabia to boost production.

 

US West Texas Intermediate crude futures fell 51 cents, or 0.46%, to $111.25 a barrel at 04:37 GMT, giving up earlier gains

 

Oil prices

 

Brent crude futures for August fell 79 cents, or 0.67%, to $117.19 a barrel, also reversing earlier gains.

 

Both Brent and West Texas Intermediate rose more than 2% on Tuesday as concerns about tight global supply outweighed fears that demand could slow in a future recession. An agreement by the Group of Seven economic nations to explore ways to reduce the price of Russian oil also boosted market sentiment.

 

. is seen Kingdom Saudi Arabia The United Arab Emirates as the only two members of the Organization of the Petroleum Exporting Countries (OPEC) have spare capacity to make up for lost Russian supplies and weak production from other member states.

 

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But the UAE Minister of Energy Suhail Al Mazrouei He said on Monday that the emirate was producing near its maximum capacity for its 3.168 million barrels per day quota under an agreement with OPEC and its allies called the OPEC+ community.

 

His comments confirmed those of French President Emmanuel Macron, who told the US President Joe Biden On the sidelines of a meeting group of seven That the UAE is producing at its maximum capacity and that Saudi Arabia can increase production by only 150,000 barrels per day, less than its spare capacity of about 2 million barrels per day.

 

Analysts also warned that political turmoil in Ecuador andLibyaIt may increase the scarcity of supplies.

 

With that, stock data was provided in United State Some sense of improved fuel supply, gasoline stocks for the week ending June 24 rose by 2.9 million barrels and distillate fuel supplies increased by 2.6 million barrels, according to market sources citing figures American Petroleum Institute On Tuesday, however, crude stocks fell by 3.8 million barrels   LINK

 

Parliamentary Economy Talks About (Space For Investment) Within The Food Security Law

 

Economie| 11:18 – 29/06/2022   Special- Mawazine News  The Parliamentary Investment and Economy Committee spoke, on Wednesday, about an “investment space” within the Food Security Law.

 

Committee member Briar Rashid told Mawazine News that “the emergency food support law included huge financial allocations estimated at 8 trillion Iraqi dinars, which may provide space for investment projects.”

 

Rasheed added, “These sums were allocated to projects for the development of the regions, and they are huge sums of money that could be sufficient for investment or the advancement of the investment reality through the gateway to the development of the regions.” https://www.mawazin.net/Details.aspx?jimare=197961

 

Alia Nassif Warns: Iraq Will Pay Millions Of Dollars In Compensation Due To The Policies Of The Minister Of Transport

 

Policy   2022-06-29 | 03:27  Source:  Alsumaria news   2,244 views   Nassif called on the Integrity Commission to “intervene and deal with this issue as a deliberate waste of public money, take legal measures against those who caused it, and seek to prevent the state treasury from assigning all these losses, indicating that” one of the biggest problems that Iraq faces is the presence of failed ministers. They cost the state money and leave the ministry, leaving the state and the people mired in debt.”   LINK

 

Parliamentary Integrity: We Will Follow Up On The Distribution Of Job Grades And Will Not Allow Them To Be Tampered With

 

Iraq   09:54 – 06-29-2022  The Integrity Committee in the House of Representatives revealed its continuous monitoring of job grades and not allowing them to be tampered with.

 

A member of the Parliamentary Integrity Committee Hadi Al-Salami said that the Integrity Committee will follow up the distribution of job grades, and there will be complete transparency of appointment through the Federal Service Council, stressing that in the event of any manipulation, it will be exposed to public opinion.

 

He pointed out that the meeting of the independent representatives with the demonstrators demanding appointment resulted in the formation of a coordinating committee representing the demonstrators to familiarize themselves with the mechanisms of appointment in all transparency, explaining that the issuance of an investment law was aimed at providing job opportunities for young people through it, but what happened is that most investment projects resort to Foreign labor.

 

A member of the Parliamentary Integrity Committee stressed the need to impose an employment rate of Iraqi labor on investors and reduce their foreign counterparts according to the actual need.

 

https://kirkuktv.net/AR/Details/7134

 

Integrity Reveals A Waste Of Nearly A Billion Dinars In Wasit Health

 

Economie| 11:14 – 29/06/2022   Baghdad – Mawazine News   The Integrity Commission’s Investigation Department reported, on Wednesday, that it was able to seize redundant medical devices in two government hospitals in Wasit Governorate, indicating that the value of the seized devices amounted to nearly one billion dinars.

 

In a statement received by Mawazine News, the department said, “The Anti-bribery Committee in the Wasit Investigation Office, which moved to Al-Karama and Al-Zahraa Teaching Hospitals in the city of Kut, managed, after conducting investigations, follow-up and auditing, to seize (24) respirators (ventilators) in excess of The need is kept in the warehouses of the two hospitals,” noting that “Kimiadia company purchased and prepared respirators without asking for the need for them.”

 

She added, “The value of the devices that were purchased by Kimiadia and imposed on the Pharmacy Department in the Wasit Health Department amounted to (955,383,000) million dinars,” stressing that ” The devices were stored irregularly; This exposes them to damage due to improper storage.

 

And the statement continued, “In Maysan Governorate, the Commission’s investigation office team in the governorate monitored violations in a feeding contract concluded by the Health Department, as the Maysan Health Department extended the feeding contract for the year 2020 with a private company, without announcing it as a tender, contrary to the contract instructions.”

 

He pointed out, “Organizing two fundamentalist arrest reports in the two operations that were carried out based on two judicial notes, and presenting them to the judges of the Investigation Court specialized in integrity issues in Wasit and Maysan, to take appropriate legal measures.” Ended 29/N33

LINK

 

 

Starting To Return A New Meal Of Their Voided Contracts To The Ministry Of Interior And Defense

 

Posted On2022-06-29 By Sotaliraq   Baghdad/Bright news   The Ministry of Interior is preparing to return a new batch of those whose contracts have been rescinded, those who fall under Paragraph (C) after completing all their requirements, foremost of which is the financial allocation, while the Ministry of Defense has raised the names of 35,000 of those whose contracts have been rescinded under the age of 40 in order to return them to service again.

 

This comes at a time when observers called for the political aspect to be removed from the file of their contracts, and to be placed within legal considerations.

 

A member of the Parliament’s Security and Defense Committee, Representative Yasser Iskandar Watut, said in a statement to (Al-Mada), that “the Ministry of Interior formed a committee to return their rescinded contracts, and under the deduction of two meals earlier.”

 

And he added, “The ministry had conducted tests on two meals under the name of paragraph (a) and paragraph (b), in 2019 and they were returned, but these procedures for those who joined the other paragraphs stopped after Iraq was exposed to the Corona epidemic.”

 

He pointed out, “The financial allocation of those whose contracts were terminated had been suspended due to the financial crisis that accompanied the outbreak of the Corona pandemic after the drop in oil prices.”

 

And between Watut, “The Ministry of the Interior resumed work again, and started with the third course under the name of Paragraph (C), to proceed with returning them to service after the financial allocation was provided.”

 

And he went on to say, “The Ministry of Defense, on its part, has raised 35,000 of those whose contracts have been terminated, their names have been raised to the Ministry of Finance, provided that they are under 40 years of age in order to return them to service.”

 

The Presidency of the House of Representatives had confirmed the inclusion of a paragraph regarding the return of their nullified contracts from the security and military agencies in the Emergency Support Law for Food Security and Development, which the House of Representatives voted on early this month, and this was preceded by a parliamentary signature campaign in order to secure the financial entitlement for those covered by paragraph (c) in the law.

 

For his part, the security expert, Ahmed Al-Sharifi, said in an interview with Al-Mada that “the issue of returning their nullified contracts, whether to the Ministry of Interior or Defense, needs a study and a decision issued by the same institution.”

 

Al-Sharifi warned against “subjecting these aspects to political considerations, because they are entitlements to the military and security establishment, and therefore it is necessary to examine whether the return of their rescinded contracts is in line with the governing regulations and laws.”

 

He stressed, “There are those who leaked at a time of war or crisis, and therefore the reasons for terminating the contract with the military or security component must be discussed before returning it again.”

 

Al-Sharifi spoke about the importance of “granting the military and security institutions independence in performing their tasks and their functional role and keeping them away from political influence. As for the comprehensive return, it must be subject to the legal dimension. Is this procedure consistent with the law or against it?”

 

The country has witnessed continuous demonstrations of those whose contracts have been terminated in the Ministries of Defense and Interior and the Popular Mobilization in order to return them to service, demanding that financial allocation be provided to them, whether in the Federal Budget Law or the Emergency Support Law for Food Security and Development.  LINK