Al-Faily: We renew the demand to return the dollar exchange rate to (1,300) dinars per dollar
Al-Faily: We renew the demand to return the dollar exchange rate to (1,300) dinars per dollar
Monday, February 15, 2021 | 01:30 p.m.
Today, Monday, MP for the National Approach bloc, Mazen Al-Faily, renewed the demand to restore the dollar exchange rate to (1,300) dinars per dollar.
Al-Faily said, in a press statement, that “we do not rule out that the goal of the decision to raise the exchange rate of the dollar is to collect obscene profits from the influential parties in the currency auction market in one go through the escalation jumps in the exchange rate of the dollar in the market and the stability of the sale price by the Central Bank before Officially adopting the new price, in which Iraq lost more than (300) billion dinars within a few weeks, it went to the parasitic and speculative parties in the auction market without practicing any tangible development activity, then those parties returned and two weeks before the exchange rate was approved by buying the dollar in large quantities from the bank with the same The price is (1190) dinars per dollar to save until the day the official exchange rate was approved, so she sold the dollar saved with her from this process to the Central Bank at an official request from him, so the profit margin of one dollar obtained by the parasitic banks associated with influential parties was equal to more than (260) dinars per dollar. .
He added, “If we calculate the two-week period multiplied by the rate of the daily dollar amounts sold by the Central Bank for the same period, which is (210) million dollars, then the sum of what those parasitic banks owned or partnered with politically influential parties would have amounted to more than 750 billion dinars, and if we combined the amount with them. The previous one is from the clear profits for them, which are (300) billion dinars, so the total of what the parasites won is more than (one trillion dinars) in a circumstance not exceeding two months.
He indicated that “what some call to justify raising the exchange rate for the purpose of supporting the local product is contradicted by the decisions that granted Jordan exemptions from customs duties for hundreds of materials (and selling oil at a low price), in addition to the absence of the infrastructure for the national industry and many raw materials are imported from abroad with the high dollar. Its price rises, so the cost of manufacturing it increases and its competitiveness weakens with the similar imported product. It is clear from the foregoing that the stated justifications for raising the dollar exchange rate are unrealistic. ”
He continued, “And another goal is proposed for this decision, that it contributes to filling an amount of the budget deficit and is supposed to squeeze unnecessary expenditures. Millions of poor and low-income citizens will not bear the damage, and it is strange that some of them proposed to remove the damage from financially affordable segments – contractors – an amount (500) One billion dinars and ignore the suffering of the poor. ”
He added, “The amount that is expected to be saved from raising the exchange rate does not exceed (8) trillion dinars, and it can be collected without resorting to raising the price of the dollar. It has been proposed to raise the price of oil by three dollars per barrel, which would provide revenues of approximately (5) trillion dinars, if available. The will to collect other revenues, including the financial obligations of mobile phone companies in favor of the state, because revenues close to this amount were available without the need for the decision to raise the exchange rate and its severe social damages.
The representative of the National Approach bloc concluded his statement that, “Finally, we call on the supervisory authorities to verify the correlation between the continued increase in the exchange rate of the dollar and the flow of profit to the pockets of parasites who drain hard currency without accountability or accountability !!.”
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