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"Share of the Budget" - Wed. PM KTFA Thoughts/News 8/29/18

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"Share of the Budget" - Wed. PM KTFA Thoughts/News 8/29/18

Post  Ssmith on Thu Aug 30, 2018 9:14 am

KTFA

Walkingstick » August 29th, 2018


SNIPPET:

Iraq establishes National Oil Company

March 16, 2018

When it comes to the expected benefits from passing the draft law for the company, member of the parliamentarian oil and energy committee Zaher al-Abadi told Al-Monitor, “The draft law will place the oil production from extraction to exports and manufacturing in Iraqi hands, provided that the company is run from a professional and modern perspective.” Abadi added, “The Iraqi staff is capable of achieving that after having been marginalized since 2003 when foreign companies received all the opportunities.”

Abadi confirmed that the project "will be an achievement in terms of improving income per capita.

The Iraqi people will have a 10% share of the oil revenue.” He said that citizens' shares will be placed in a bank account.

But Jawahiri does not believe this will benefit Iraqi citizens; he thinks that “the decision to guarantee the citizen’s share is nothing but a political and electoral campaign.

By doing so, the parliament is being reckless with funds because it is making the company responsible for public funds, which is actually one of the sovereign tasks of the ministries.”

Jawahiri justifies his point of view by asking, “In what ways would granting citizens a share with a value that at best would barely reach $50 per year help, knowing that this would lead to reducing the capital needed for the company to invest in developing its techniques and work?”

Read more: https://www.al-monitor.com/pulse/originals/2018/03/iraq-national-oil-company-economy.html#ixzz5PbmzLHJ9

Jay » August 29th, 2018

Thank you and hello WS. As I recall, imo the 17% was the Kurds agreed upon share of the BUDGET not Hcl. <--- IMO.

Walkingstick » August 29th, 2018

Good evening...Yep...

ftti... One, in the same.. "Semantics" pairings of 127/currency site vs article.
https://www.exchangerates.org.uk/Iraqi-Dinar-IQD-currency-table.html
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