Proposal .. Set up a fund called petro dinar
Proposal .. Set up a fund called petro dinar
02/02/2014
BAGHDAD / JD / .. Finance Committee unveiled a proposal to set up a fund called the Label (petro dinars), exaggeration distributed to the provinces on the basis of Mahromep.
The head of the Committee Haider Abadi, during a press conference at Parliament House attended by the agency / JD / There is a proposal to set up a fund called petro dinars, explaining: This fund is distributed to the provinces on the basis of need and Mahromep as stated in the Constitution.
He pointed out that today’s budget is distributed to the provinces based on the ratio of the population and this is also unconstitutional and this fund Alaptrodenar will restore balance again.
The Finance Committee has revealed adjust the amount of the budget after the lifting of the petro-dollar to $ 5, while confirming that the size of the budget amounted to 170 trillion and 411 billion dinars.
A member of the MP Magda al-Tamimi, in an earlier statement to the Agency / JD /: that the size of the budget in 2014 amounted to 170 trillion and 411 billion dinars after the decision of the Council of Ministers containing raise funds for the petro-dollar to $ 5.
She explained: a modification is made to the amount allocated to projects oil-producing provinces through the conduct transfers required coordination with the Ministries of Finance and Planning federated the equivalent of $ 5 for each barrel of crude oil producer in the province and $ 5 for each barrel of crude oil refined in refineries to maintain and $ 5 for ( 150) cubic meters of natural gas produced in the province.
She added that the total planned budget deficit stood at 30 trillion ($ 771) billion dinars.
The Cabinet has approved the amendment of the amount of petro-dollar to five dollars.
The council said in a statement he had agreed to the amendment of Article (2 / I / e) of the draft law on the federal budget of the Republic of Iraq for the fiscal year 2014, according to the formula contained in the book and the Ministry of Finance with the number 674, dated 20.01.2014 and notice of the House of Representatives so with an adjustable amount equal to the amount of the planned $ 5 for petrodollar. / End / / 22
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