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A parliamentarian talks about a 'breakthrough' in the salary crisis DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

A parliamentarian talks about a 'breakthrough' in the salary crisis

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A parliamentarian talks about a 'breakthrough' in the salary crisis Empty A parliamentarian talks about a 'breakthrough' in the salary crisis

Post by GirlBye on Mon Nov 02, 2020 11:00 am

On Monday, a member of the Parliamentary Finance Committee, Jamal Cougar, called on the government and the Ministry of Finance to speed up completion and send the next year's budget for a vote on it, indicating that the borrowing law will secure salaries until the end of this year.

Cougar said in an interview with Alsumaria News, "The Ministry of Finance can cover the deficit in its funds by issuing treasury bills for temporary borrowing, which will be given the legal cover to be permanent loans after the vote on the borrowing law within the parliament," indicating that "the financial crisis will continue Only in this month and after that the expenses will be covered and the sums secured through the borrowing law until the end of this year.

Cougar added, "With the beginning of next year, the government will need either a new borrowing law or to send the federal budget at this time in order to legislate it before the beginning of next year to provide the legal cover for the government to provide the money it needs," calling on the government and the Ministry of Finance, To "expedite the completion and transmission of the budget for the next year to the House of Representatives in order to vote on it to allow the provision of salaries for a full year."

https://iraqakhbar.com/2737120
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A parliamentarian talks about a 'breakthrough' in the salary crisis Empty A new solution to the "Iraq financial crisis", including the imposition of a tax on the salaries of two groups!

Post by GirlBye on Mon Nov 02, 2020 11:08 am

Iraq Center for Legal Development presented

A solution to the current financial crisis to the three presidencies, including the imposition of a tax on the salaries of two groups, the sale of buildings and state land, as well as taxes on telecommunications companies, airport departure fees for citizens and the currency auction, which is an alternative to the white paper that the center described as containing difficult-to-implement paragraphs .

The center said in a statement that "these proposals deal with solutions and beneficial treatments for the current financial crisis that the country is going through as a result of low oil prices and the contraction of the global economy as a result of the continuing threat of the Corona pandemic and the negative impact of all this on Iraq ."

The center addressed “the three presidencies in an official book explaining solutions to financial problems and their implications for the various state facilities in accordance with legal and constitutional visions,” stressing “the typical white paper for economic and financial reform, and the difficulty of implementing many of its paragraphs at the present time and the need for most of the consequences of implementing its paragraphs to Long time ”.

The center recommended, according to its statement, to deduct 10% of the sums transferred through private banks and resulting from the auction selling the currency, as tax and customs deposits, and to take advantage of the price difference by selling the dollar to banks at a rate of (1250) dinars to the dollar, and following up on imports of oil derivatives sold by The Ministry of Oil for public and private fuel stations, imposing an airport departure fee of (100) dollars per person, imposing tax insurances on mobile phone companies at a rate of 20% in advance, and on oil companies at a rate of 10%, and privatizing all companies of the Ministry of Industry, "indicating that" the sum The state's savings as a result of the above measures amount to more than (23) billion dollars annually .

Below are the proposals presented by the Iraqi Center to the three presidencies

1 - The currency auction carried out by the Central Bank is the only window to provide liquidity in the national currency, and despite the many observations that accompany this process, which we are not dealing with now, and despite the new management of the bank dealing with some problems, we suggest that a 10 percent be deducted % Tax and customs deposits for the sums transferred through private banks, and after reviewing the approximate estimates that the aforementioned bank sells through this window, it will reach the state treasury up to six billion dollars annually .

2 - To prevent speculation in hard currency and the state benefiting from the difference in price, we suggest that the dollar be sold to banks at a rate of (1200) dinars per dollar, thus providing the state up to three billion dollars annually .

3- Follow-up on imports of oil derivatives (gasoline and gasoline) sold by the Ministry of Oil through public and private fuel stations, whose fate has not been known for many years, and many former Iraqi representatives and officials have warned of this, and those imports are estimated to be around five billion dollars annually .

4- Imposing a tax on the salaries of employees and retirees whose salaries exceed (500) five hundred thousand dinars at a rate of 10%. This measure is expected to save the state treasury five billion dollars annually .

5- Imposing a fee to leave the airport, and this is what is applied in most countries of the world at the rate of (100) one hundred dollars, which increases the state’s imports by about five hundred million dollars annually .

6- Imposing tax insurances on mobile phone companies at a rate of 20%, paid in advance, and settled at the end of the fiscal year, and according to the data available to us, it will enter the state treasury one billion dollars annually .

7 - Imposing tax insurances on oil companies at a rate of 10%, and according to the data available to us, it will enter the state treasury up to three billion dollars annually .

8- Privatizing all the companies of the Ministry of Industry through investment or participation with exclusively Chinese companies, as they are the only ones operating in Iraq in such circumstances, and thus it is possible to employ idle labor on one side, and to preserve hard currency after issuing a decision preventing the import of goods produced on the other side .

9 - Preventing the import of all agricultural products, thus encouraging Iraqi agriculture and its prosperity and preserving hard currency .

10- Using human resources for all ministries, especially defense, interior and the popular crowd, to build roads, bridges, irrigation projects and residential complexes, and the experience of the Republic of Egypt is the best proof of this, especially as everyone knows that the surplus of these resources reaches at least 50% in each ministry .

11- Selling all state buildings and lands that are not utilized by the state within cities, especially commercial ones .


https://iraqakhbar.com/2737023


2cents

Number # 1 I disagree with, they need to get rid of those auctions Post Haste!  
Number #8 is insane Why just work with the Chinese exclusively? Sounds shady!
Number #9 is good but the people will suffer in the interim. 
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