Economic Commission: procedures to reduce the high dollar

Economic Commission: procedures to reduce the high dollar   Committee announced that the economy and investment in the House that the vote on the budget will be next Thursday, while quoted the central bank’s determination to take strong action against banks and banking stores, which do not adhere to the dollar at an exchange rate which has witnessed a remarkable rise in the last period. A member of the Amer-Fayez said in a statement singled out by the (long) yesterday   “The parliament did not vote yesterday on the budget of 2012 to complete the lack of observations on the project submitted by the Ministry of Finance, and therefore took the decision to postpone the recognition of the session next Thursday in order to provide greater opportunity for action by the discussions.”   Regarding the increase in the dollar exchange rate in the Iraqi market, said Al-Fayez, “that our meeting yesterday the central bank, which stressed that the reason for this rise, lack of commitment by banks and shops banking regulations, and that he would make a decision on Wednesday against the violators of the orientations, which will return the market to its natural state” he continued, “that the price of the dollar at the moment of 1890 dinars, but with some fees that take the profitability of banks and up to 2000 dinars.” As mentioned member of the Committee of Economy and Investment, “The Committee discussed with the Central Bank is also a file to delete the zeros from the currency, which had been scheduled, according to some lawmakers to begin next September,” adding, “but we sure are not going down the new currency into the street before the adoption of the budget 2013.”   And pensions and reports that replacement of the anticipated increase to grant a financial amount of 600 thousand dinars annually, denied Al-Fayez this and said, “The proposed law to increase the salaries of retirees is now in Parliament and we are working on the discussion and approval in the next few days, which is not linked to the budget of the Federal as imagined other. “