Warnings from the exploitation of tariff law to raise prices

31/03/2012 0:00

BAGHDAD – Al Sabah 
warned member of the Economic Commission parliamentary deputy Nahida Daini from increased prices of food and industrial goods at the application working tariff, calling to take the necessary measures to prevent the exploitation of the Iraqi trader of those conditions to raise the prices of goods. 
said Daini through a statement made ​​by the Agency news: Many of traders working on the… storage of goods, so they come up when you apply the tariff law, which will increase their prices in the market, stressing the importance of the formation of an Oversight Committee, whether by the House of Representatives or of the executive government, not to make way the Council for these traders to exploit the conditions at the expense of ordinary citizens . 
She noted that the tariff law would be imposed on food, especially vegetables and fruits to support the domestic product and consumer goods as commodities of industrial, electrical, and materials needed by society, which is difficult for Iraq’s production such as materials for medical and scientific will be not covered by it, the fact that Iraq today has become a viable market for all materials, making local production deteriorating. 
explained Daini hold many of the amendments to the law after he faced a protest by some members of parliamentary blocs, are likely to provide the revised draft to the House of Representatives during the next few days for a vote after being by seminars continuous and extensive studies before approval to be applied the beginning of June. 
identified the Ministry of Finance in the February 16, 2012 the first of next June as the date for directly working tariff for all goods entering Iraq in a move aimed at boosting production, industry, local agriculture and the reduction of dumping bad. 
The law provides for the imposition of customs duties on imported goods, not included in the table of tariff duties, by no more than 20 percent of its value, to be exempt samples and models that are not of commercial value from customs duties, and took into account the law in the application of its provisions, the facilities afforded by the Investment Law No. 13 of 2006, as amended on goods imported for investment projects exclusively, and comes with a view to attract the maximum amount of investment companies and businessmen to work in Iraq.