Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by prettyctk

******** i think the post that cigarman wrote a few pages back about the arab states forgiving the iraqi debt is a huge step *************** but there was no newslink with that post. cigarman do you have a link???? mike have you heard about this?????????

Another unsubstantiated post. we are all awaiting a link on that.

A trusted poster in another forum saw it in the Al-Sabaah news paper in the gov. section. She's going to give us the link and I'll post it when she does.

great, thanks cigarman

Kurds approve foreigner-friendly investment law
07/07/2006
Source: Reuters AlertNet

The parliament of Iraq's northern Kurdistan region unanimously approved a new investment law this week in hopes of luring foreign capital to the region.

"We hope the passing of this law will entice foreigners and locals to invest here so we can rebuild infrastructure in the areas of industry, agriculture and transportation," said Dler Haqi Shaways, head of the Arbil-based Kurdistan parliament's economic and financial committee. "This law will offer investors guarantees and facilities with regard to taxation and custom tariffs."

Infrastructure in the region is badly dilapidated as a result of decades of war – first between Iraq and Iran, later between Iraq and US-led coalitions – and UN sanctions. The new investment law, therefore, will allow foreign companies to bring in the machinery and facilities needed for infrastructure projects free of taxes and custom duties. The legislation will also grant investors 10-year tax holidays upon completion of their respective projects

Before the unification of the region's two separate administrations – which had been run by two rival Kurdish factions – in May, two different investment laws had been applied. According to those regulations, foreign companies with projects in the region were only allowed to hold minority stakes, while majority shares went to local firms – a requirement that served to deter many foreign investors. Under the new legislation, however, foreign firms will be allowed to hold up to 100 percent of a given project.

Additionally, foreigners will also be allowed to own land, a provision opposed by many local economists. "Foreign companies must not be given the right to own property, because that would come at the expense of national sovereignty," said Arbil-based economist Shamal Nouri. He conceded, however, that, in a country as volatile as Iraq, "You need to offer investors certain privileges to motivate them to invest".

Ever since the US-led invasion and occupation of the country in 2003, the Kurdish region has been spared much of the bloodshed seen elsewhere in Iraq, leading a number of foreign companies to set up projects in the area. According to figures from Kurdish Regional Government officials, Turkish firms currently account for the lion's share of investment, estimated to be in the hundreds of millions of US dollars.

According to the nascent constitution, the regional parliament is authorised to pass legislation governing the region's internal affairs. In cases of a dispute between the central government in Baghdad and the regional government, according to the national charter, regional law prevails.

Hey sofla, your a member of that thread and you saw her explaination, but i'll bring it here.
quote it was al-sabaah newspaper, the govt. one. the links are all the same for the stories because i get them through google translation and the translated stories all have the main page link. ill look through my pile of notes to see if i can find the entire original article.

Also quote no i saw that article but the debt was taken care of by maliki on this trip, two separate articles. the article in al sabaah was a direct result of maliki makin deals. they will get first pick in investments, saw it in an article that ill find if someone has a cow about it.

actually, im rather shocked that all this information that ive presented wasnt found by someone else in this forum. these are the sites that have the good stuff people, it would be a good idea to bookmark a couple

Originally Posted by flygirl1

Tif, not to worry! I can operate a defibulator, so you're covered.

And I am CPR qualified.

Kozmar

Originally Posted by flygirl1

Sorry Tif, Me too! I may have to zap myself! Hey Choochie, I know CPR so we won't have to use the zapper. Of course I could be too drunk to count!

Thanks flygirl! It's good to know someone has my back, but with the party we are planning, and from the way that you, tiff, and I talk, please make sure that I actually need cpr and am not just passed out from all the drinking!

Originally Posted by choochie

Thanks flygirl! It's good to know someone has my back, but with the party we are planning, and from the way that you, tiff, and I talk, please make sure that I actually need cpr and am not just passed out from all the drinking!

Ain't THAT the truth! LOL! I've been told that I need one of those "kiddie-harnesses with a leash" because of my tendency to 'wander away to play.....'

Friday, July 07, 2006
VOA - By Margaret Besheer
Taxis receive 40 liters of gas every five days
It is an irony of Iraqi life, that the country with the world's second-largest proven oil reserves must import petroleum products, and has a thriving black market for gasoline. The high cost of gas is driving up prices on everything from produce to appliances, and Iraqis are frustrated.

Under the blazing mid-day sun, taxis idle by the side of the road in the mostly Kurdish city of Irbil. They are waiting for their allotment of gasoline.

Adam says he has been waiting for an hour-and-a-half to fill his tank.

"Forty liters is only enough for one day, and when I run out, I have to buy gasoline on the black market," he said. He added that he pays about $15 for 20 liters on the black market; a hefty sum for a man who earns only about $200 per month.

But as a taxi driver, Adam is doing better than many other Iraqis. Taxis are allowed 40 liters every five days, but private cars are only allowed to fill up every seven days. Gas station prices are set by the government, and taxi drivers receive a discount of a few cents per liter.

Saleh Agha Miran owns the gas station where the taxis are waiting to fill up. The amount of gasoline he gets is controlled by the government, and, when he runs out, he has to close his station until the next delivery.

"If you want to know the truth, the whole city depends on the black market," he said.

Saleh noted that if smugglers did not supply the city, life would stop.

Iraqis need the fuel, not only for their cars, but also for cooking and to power generators. With government electricity in short supply across most of the country, generators are essential, especially in summer heat, which can rise above 50 degrees centigrade.

At another gas station across town, this one for private cars, Ismail waits.

"This is not a life; we do not have fuel, we do not have electricity," he complained. He said that black market prices are high and gas stations are sold out.

A new report from the Iraqi government says refinery output has declined between 40 percent and 60 percent since the U.S.-led invasion in 2003. Refineries are often the target of sabotage, and are in need of extensive rehabilitation. Spare parts are also in short supply, and there are technical problems to resolve.

What Iraq does produce is sold on the open market, leaving Iraqis to rely a great deal on imported petroleum products. Many of those products come from neighboring Turkey.

At the Ibrahim Khalil border crossing between northern Iraq and Turkey, the lines of trucks stretch for kilometers on both sides of the border.

A truck driver told VOA that he has been waiting on the Iraqi side of the border for eight days to take his empty fuel tanker back to Turkey. He says he expects his roundtrip will take a month in total. Many drivers complain that they make no money by the time they pay their travel expenses, and the customs duties on their cargo.

Many Iraqis blame Turkey for the lines at the border, saying their neighbor intentionally closes the crossing to cause them headaches. Whether purposeful or not, such delays only further aggravate the shortage of gasoline.

Back in Irbil, Sadiq sits in the trailer that serves as his office, counting wads of cash - the proceeds from his illicit gasoline business.

The black market functions very openly, with smugglers together on a big lot filled with oil tanks and makeshift offices. On city sidewalks, young men and boys, sell 20-liter jugs of black market gasoline to passing motorists.

Sadiq, the black marketer, says the work is dangerous but lucrative.

"If the smugglers did not bring gasoline from Syria or Iran, the price would be very high, and no one would be able to buy it," he said. He added that there are not enough refineries to meet demand.

Iraq's central government is working to address the shortages, but until then Sadiq and his fellow smugglers are likely to continue profiting.

http://www.kurdmedia.com/articles.asp?id=12794

Follow this link:

http://www.mnf-iraq.com/Publications/TWII/current.pdf