aggiedad77 » January 6th, 2015, 12:34 pm
Tuesday News Summaries and Commentaries
Interesting conference call last night, it proved to me that some of what we were seeing this past weekend in news was suspect at best.....reason to be extra cautious with what we grab and try to run with.....thanks Delta...thanks Frank for a great call in all aspects....kind of a mini-series last night was.....now let's look for a heartbeat today and see what happens.....oh pardon me I have oil all over my fingers.....how messy that can be.....when used properly it serves as a wonderful lubricant for engine parts.....watch as it is built into a law for Iraq to lubricate may parts of the world.
Parliamentary Economic announce the existence of the possibility to reduce the deficit in the federal budget
So the Finance Committee met on Monday and walked away without making any progress, yet they do recognize the way to reduce the deficit is through increases from within the private sectors of Iraq's economy.....old news....
These players need desperately to step up to the table and be recognized as full contact team players...not just some mansy-pansy run-of-the-mill efforts that are willing to be led around by a hook in the nose from the big oil boys.....now is the time for their efforts to speak loudly.....and of course the CBI steers this ship...and yes they too can make a difference....but only when the time is right....when they are ready to speak....listen to them.
A source in the financial Kurdistan: the draft budget for 2015 is ready now
There is one thing glaringly clear.....everyone has an opinion about the budget...it's done....it's been read....it's got a deficit in it...the deficit is being addressed....the Finance Committee works on it...the Finance Committee is giving it to the Parliament....well on Wednesday...tomorrow it will be in front of the Parliament.....I will show you the Parliament agenda in just a bit and the budget is teed up right behind the Koran.....important position....watch what happens with it.
The government plans to impose taxes on the mobile phone and the Internet and cars by 15%
Taxation of phones, internet and cars by 15%....will that be enough...probably not.....after all the deficit sits at near 24 trillion dinars....that is much ground to make up.....they must continue to seek other avenues and to not give up on this battle....watch what the CBI ends up saying later this month....early next month....perhaps they have some reasonable answers.
Zebari: 2015 will be harsh on the Iraqis
Finance Minister Zebari is saying that at least the first half of 2015 could be looking bleak for Iraq....no doubt....after coming off a reeling year such as 2014 where there was never a budget concensus....but spending went on unabated...what would you be left to think.....
He is right on one accord....Iraq is a rich nation....it must take the appropriate steps though now to fully crawl out from underneath the dark shroud that cloaked all of Iraq from the previous government.....this will take time and persistent effort by this new government.....they are ferreting out any and all corruption within the country and outside as well....turning over rocks that hold a great growth of vermin who remain dangerous because they are being exposed now.....but let the good prevail in the end.
MP calls for investment Issawi natural minerals as a resource for extra budget
Mining of natural Iraqi minerals...sulfur, iron, phosphates, mercury....and others maybe gold and some other precious minerals as well....maybe it is time to start taking advantage of what lies just below the surface in many areas...bring on the technology....bring on the heavy equipment and get to scratching the back of Iraq....there is money to be made....but how quickly....regardless, it is time to strike.
Sabri: the government program is going according to the time limit
More recognition that PM Abadi's government is doing all the right things to push Iraq in the proper direction and at the right speed to turn the country around in the eyes of the Iraqi citizens as well as neighboring countries.....it takes many miles to stop a ship that steams on the seas.....it happens slowly....but it can be changed.....this is happening to Iraq....it takes time, it takes consistent and concerted efforts on the parts of many and for the first time in many many years the political factions are actually working together for the most part to assure Iraq comes out of this crisis it faces as a better and stronger entity in the world.
The government is determined to resolve the oil and gas law file
There is strong resolve on the part of PM Abadi to get the oil and gas law resolved and brought into play not only for the Kurds but for all of Iraq....he fully recognizes the benefit to all Iraqi citizens it will have once fully in place.....his strong belief in this process was proven when he put together a working committee to bring resolution to issues that might remain in the law...he sees this effort as expediting the enactment of the law......I believe once the budget is off the table and approved the oil and gas law will take on a new aura and degree of importance that has never before been seen.
Kurdistan: went to approve oil and gas law during the next legislative term
Sure thing the government is considering a new oil and gas law.....and yes they have stated multiple times they fully intend to start working on it in earnest with the opening of the next legislative session, due to open tomorrow.....I think the budget is still in the way.....but with the committee that Abadi has previously formed.....I think there is some work being done in the background.....in the back rooms....and their efforts will be brought to the forefront as soon as the budget is approved....just watch.
Economists: The new tax system need to protect the citizen and the state of corruption
Dr. Saleh has been quoted talking about the new taxation system within Iraq....stating that it will not be great against the Iraqi citizen...but is necessary to help cover the deficit.....he also states what has become a big theme of PM Abadi...that whatever they do as a government it must be free of any corruption....
They have talked previously about taxation of commodities such as electricity, water, and even sanitation.....it has been said that in the past Iraq lost upwards of $20 billion dollars due to corruption in their collection processes....where can you look in Iraq's past and not see or expect to see corruption.....and of course this was "the thing to do" when the leader himself either turned a cheek, or opened his own pocket to the same....there is talk of any taxation of the people only impacting the higher income earners....this would be in the way of compulsory savings for those impacted.
Parliament resumes its meeting tomorrow to read the initial report of the budget in 2015
Yes Parliament is expected to come back into session tomorrow, Wednesday, and at the top of the agenda I can tell you is the 2015 budget.....what an interesting day this will be for them.
Office of the Prime Minister: government is serious about trying to resolve the oil and gas law
PM Abadi continues to speak to his seriousness in seeing the oil and gas law resolved as quickly as possible.....his technical committee within the COM continues their work making adjustments to what they have in front of them to help assure passage at the right time...which I believe is on a short time fuse.....this will benefit all of Iraq....not just the Kurds but all of Iraq.
Nassif: Barriers to oil and gas law "political" on the way to solution
Even with political differences in the oil and gas law as it sits today.....they appear closer than ever before at finding resolution for one and all.....I believe this to be largely due to the total cooperation between political entities not just on oil and gas issues but on all political issues within the government.....the resulting efforts of the new government leadership in building a stronger team from the get go......
I say so what that it has been six years since the original oil and gas law was put on the table.....when it first appeared there was never any intention to see it approved....there was too much money floating around to be grabbed by those more intent on lining their own pockets at the time....and any approval of the law would have shutdown their money tree....
But today there is a different sheriff in town and he looks rather bleakly on any efforts defined as corruption....thus a renewed effort that is really just the old original effort seeing daylight finally.
Well enough for now....chew this around for a bit and see what you think.....and I haven't forgotten about the meeting agenda for tomorrow....it will surface in here very shortly....watch for it. Aloha Randy
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