Baghdad The Minister of Finance, Ali Abdul-Amir Allawi, chaired the eleventh session of the committee for preparing the federal general budget strategy for the medium term 2022-2024, in the presence of the Prime Minister’s Advisors, the Undersecretary of the Ministry of Finance, the Undersecretary of the Ministry of Planning, the Ministry’s Advisors, and the Director Generals of the ministry and related ministries.
During the meeting, according to a statement by the Ministry, the report submitted by the Ministry of Oil was presented, which includes determining the revenues generated from the increase in the prices of barrels supplied to government refineries affiliated with the Ministry of Oil, in addition to discussing determining the entitlements of foreign companies operating in the oil sector under contracts of licensing rounds, and determining tax revenues on those companies.
During the meeting, it was proposed to determine the expected revenues for the benefit of the state’s public treasury from sales of petroleum products.
The meeting also discussed the detailed report submitted by the Ministry of Industry on its future strategy and the vision it set towards reviving and developing the industrial sector in Iraq for the years (2022-2024).
During the meeting, Allawi stressed the importance of adopting mechanisms and systematic steps in accordance with scientific frameworks, including those related to the oil and industry sectors, which would contribute to maximizing revenues along with other revenues within the framework of strenuous efforts towards achieving comprehensive development for the benefit of the Iraqi economy and its development.
Source: National Iraqi News Agency