Thread: Archive News - Iraqi Dinar Think Tank - 08/09/09 - 09/01/10

Iraq ratified the agreements of four major oil fields

An Iraqi government spokesman Tuesday that the Iraqi cabinet approved contracts with foreign energy companies to develop four oil fields, is crazy and Gharraf .. In the province of Nineveh and Qayyarah star.

In December, (December), The Ministry of the Iraqi oil service contracts with seven unions in principle foreign companies to develop fields, including the giant Majnoon field, which was won by Royal convening Dac Shell and Petronas of Malaysia, in a tender held in the same month. According to the Ministry of oil, companies should have to now sign the final agreements, before it can proceed.

The agreements are part of Iraq's ambitions to develop its oil sector, which suffer from poor performance, but increase production capacity to 12 million barrels a day, a huge increase from the current production level, which amounts to about 2.5 million barrels a day.

The transaction, which was ratified by the Cabinet on Tuesday, has offered to foreign companies in the licensing round on 11-12 December, the second of its kind raised by Iraq in the last year. Royal won Dech Shell, the largest oil company in Europe, and Malaysia's Petronas, the right to develop the huge Majnoon field, near the southern city of Basra. The total reserves of 12.6 billion barrels crazy, making it one of the largest untapped oilfields in the world.

And after the performance has been more muted in the first round of licenses, which was held in June (June), praised the Iraqi officials on the tour December, said it had achieved a great success. The total reserves Gharraf, a field of smaller, 900 million barrels, and won developed by Petronas and Japan to explore for oil "JAPEX." And won the Angolan oil company "Sonangol" the government to develop and star fields Qayyarah in Nineveh province in northern Iraq.

The total reserves of 800 million barrels Qayyarah, and is located south of Mosul, the provincial capital, with reserves of a field near the star about 900 million barrels. There are still three agreements of the second round, subject to approval by the Council of Ministers, including the holding Halfayah field, which won the right to development of Chinese national oil companies, Total and Petronas. Reserves are estimated Halfayah field, located in southern Iraq, about 4.1 billion barrels.

There is also a field of Badra, who reserves of 100 million barrels, and won the contract to develop Russia's Gazprom and MTV. Me. A. Kogas or Turkish, Korean, and Petronas. The third agreement the development of the second phase of West Qurna field, which was won by Russia's Lukoil and Norway's Statoil. The giant field reserves of 12.9 billion barrels.

After signing the initial contract, the government said it was seeking amendments to technical or operational contracts. He said Sabah Abdul-Kadhim, director of the legal department and commercial department of contracts and licenses in the Oil Ministry, said that Sonangol is the first company to accept the proposed amendments, followed by other companies, the government approved contracts on Tuesday. Expected to receive responses by the other companies on Thursday.

http://translate.googleusercontent.c...N35V_2KZbHSGXg

Oil: The continuation of talks with Iran and Kuwait to unify the production of joint fields

Ministry of Oil announced the continuation of talks and meetings for the unification of production from the fields of border with Iran and Kuwait, and the agreement of memoranda of cooperation in this regard.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-05

Finance Minister: the government has to pay most debts owed by

Finance Minister Bayan Jabr said the Iraqi government has to pay most debts owed them, noting that the debt profile in decline.

Al-Zubaidi said that "there are committees to study the profile of debt in a thorough and is addressing this file is to Aibdhir Iraqi funds."

Adding that "Kuwait and Saudi Arabia, the countries which had convicted them of Iraq and that there is a clear understanding by them with regard to the mechanism of payment of money."

He pointed out that al-Zubaidi "This year will see many developments, notably the integration of Visa customs between Baghdad and Erbil."

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-05

Central Bank to stop the auction sale of currencies on one because of the holiday Accounting

Stop the Iraqi Central Bank auction to sell foreign currencies for one day only because of the holiday accounting.

A media source in the central bank said "Stop auction for the sale and purchase of foreign currencies on Sunday as a holiday only for accounting, indicating that the auction" will resume its normal Friday."

The central bank held five meetings weekly auction, which began on Sunday and continue until next Thursday in order to buy and sell foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of three dinars per dollar on the sale of remittances outside the country.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-04

Maliki: It is time to resolve the file Kurdistan oil contracts

Iraqi Prime Minister Nuri al-Maliki, Sunday, it was time to open a file Kurdistan's oil contracts and resolution flexibility, realism reservation rights and interests, and contribute to the distribution of revenues among all Iraqis equally.

This came in response to a question about Maliki's position on the province of Kurdistan's oil contracts, and in his window electronic communication within a site of the National Center of Sciences.

He made it clear in his answer: "We talked with the Prime Minister of the Kurdistan Region, Dr. Barham Saleh and said it is time to open this file and resolved with flexibility and realistic reservation of rights and interests in these contracts"

Maliki said he hoped that the matter is "a crisis on the basis of desire in the solution, and that the ownership will be contained within Iraq's imports are distributed equally to all Iraqis," and through "local and federal governments and must be received by the Iraqi individual right to services and employment, education, health and others."

And Kurdistan was awarded over 30 contracts to international oil companies over the past few years, despite objections from Baghdad, which in turn prevented the international companies working in Kurdistan to compete for oil contracts in the rest of Iraq.

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I just found this from 30th December - thought it was worth a post.

Indicators to measure the independence of the Central Bank of Iraq

First: the concept of independence
May be more controversial things and then the conflict in economic policies in various countries of the world, including in Iraq is the question of autonomy enjoyed by the monetary authorities represented by the Central Bank of the Government, that is, excluding the effects of government intervention or monetary policy decisions, and considering that the concept of independence ( Independence) is the antithesis of the concept of dependence (dependence)

It has raised questions about the independence of central banks from? nd accepted their subordination to it? What is the degree or level of such independence or dependence? And certainly Alijabpaly such questions lies in the nature of the prevailing economic systems and existing legislative rules that define the relationship between monetary policy and the government, despite the (extreme) some supporters of the independence of the Central Bank as described Monetary Institute President in any country, which include its control of other institutions, as well as creating coordination should be the subject of central bank complete independence, as well as opponents of the independence of those who assert that because the government represents the people who chose them, they sometimes set targets general priority of its economic policy may not comply with the policy of the central bank to achieve price stability, and supports This view of what happened in Germany during the period of German unification in the early nineties when he succeeded the political decision of the Government's proposal to achieve unity between the two halves of the immediate cash to Germany, despite fierce opposition to the President of the German Central Bank for that matter, where he was concerned that this process will lead to negative economic consequences.

However, more moderate economic views see that the central bank to act as a government exercise its functions within the overall framework of the State, but the specificity of this institution to make independent decisions with regard to monetary policy, which must be consistent with the general economic policy of the State.

Second: the independence of the Central Bank of Iraq
In Iraq, the Iraqi Constitution (Article 100) is the Iraqi Central Bank, which manages monetary policy, an independent body financially and administratively, the Bank is accountable to the House of Representatives, meaning that the central bank would be accountable to the House of Representatives and not the government. In addition, the Central Bank Law No. (56) for the year 2004 (Article II, paragraph 2) confirms this ((In order to achieve the objectives of the Iraqi Central Bank and carried out his duties Iraqi central bank is independent and responsible as provided for in this Law, except that determines contrary to the Act, will not receive the CBI instructions from any entity or person or institution, including government institutions. and will respect the independence of the Central Bank of Iraq and anyone can influence and improper for any member in the decision-making body of the Central Bank of Iraq during the performance of his duties at the bank or interference in the activities of the Central Bank of Iraq)). In the light of the foregoing, the CBI seeks to achieve its objectives set by (Article III) of the Act, which is: to seek to achieve and maintain domestic price stability.

Promote and maintain a stable financial system is competitive and based on the market. Accordingly, the Central Bank also promote sustainable growth, employment and prosperity in Iraq. In the light of the foregoing it is inferred that the goal of addressing inflation is a priority at the expense of the rest of the other goals, and the market mechanism that will govern the economic philosophy of the state.

III: mechanisms of government borrowing
: What are the constraints and conditions by which government funding, and this represents the more elements that arise around the controversy and debate between the financial and critical and which are identified on the extent of acquiescence or subordination of monetary policy to fiscal policy, but that many of the stakeholders assert that the degree of independence Central Bank can be measured as soon recognize the limits of central bank lending to the government.

According to the legislation of monetary policy in Iraq (article 26), the nature of this relationship is determined by:

* Is not permissible for the Iraqi Central Bank credits, directly or indirectly to the Government or any public institution or a governmental entity, except as may be done by the Iraqi Central Bank to provide liquidity support in accordance with Article (31) to commercial banks belonging to the government-controlled Central Bank of Iraq, a condition that is the granting of such assistance in the same materials and conditions in effect upon the granting of commercial banks belonging to the private sector.

* The Central Bank may buy the Iraqi government securities, provided that such purchases are in the secondary market and only in conjunction with the market operations.

* Does not interpret Article (26) prevent the use of government securities in relation to any aspect of open-market operations or as security for facilities.

* The central bank support and facilities as lender of last resort lending to the bank metaphor or have a license issued by the Central Bank of Iraq in accordance with the Banking Act by granting financial assistance, provided that such assistance is necessary to maintain the stability of the financial system and the issuance of the Minister of Finance a written assurance to the Iraqi Central Bank on behalf of the government believes the repayment of the loan (Article 30).

IV: Measuring the degree of independence of Central Bank of Iraq
There are many variables that are adopted in most countries of the world, and through which to identify the degree of independence of central banks, are the four key variables relating to the Governor and the formulation of monetary policy and define its objectives and limits of government funding of the important indicators to be measured by which the independence of the central bank, as certain weights are determined for each variable, as well as determine the degree of ordinal indicators for these secondary variables.

In the application of these variables and indicators on the Central Bank of Iraq (according to the attached annex), based on existing legislation (Act No. 56 of 2004), it became clear that the degree of independence of the Central Bank of Iraq's actual (achieved) in the light of variables and indicators mentioned amounted to 78%, which is a clear indication the extent and degree of independence.

V.: independence and economic policy of the State
Some may wonder: Is that high indicator of the independence of Central Bank of Iraq is in the interest of the Iraqi economy and economic policy in general? The answer therefore holds the points of view, I: represent the view of monetary authorities (central bank) and its supporters, namely, that this high level (relatively) independent sets out clear tasks and responsibilities undertaken by the monetary authorities in achieving its fundamental objectives, and then the possibility of accountability for the failures or failures that occur within the scope of its responsibilities, in the sense that monetary policy is not ready to bear the costs of others, or not responsible.

The second view: that often the financial parties and their supporters, they consider to not be such a high degree of autonomy at the expense of the general economic policy of the State and Government, in particular that the Iraqi economy is facing the problem of inflation lowers (Stagflation) means that the monetary policy to work within the framework of economic policy as a part of it.

But the big problem facing the Iraqi economy in general, not monetary or fiscal policy alone, is not to shape the features of economic policy in general and clear in the sense of procedures, institutions and legislation are clear and implementation, most Iraqi ministries, blames others and attributed the imbalance to some of them, which confirms that there coordination required between the various different economic policies. Fiscal policy aims to address the recession and unemployment, which requires an expansion in expenditure that leads to the creation of inflationary trends in the absence of the flexibility of the production base, which is inconsistent with monetary policy, which aims to counter inflation increase unemployment ... And continue a debate and conflict, and consequently does not achieve the objectives of monetary policy and fiscal policy objectives.

But there remains the question of independence of any policy, whether the cash or other indicators are good and important for each policy that gives opportunity to assume their responsibilities to achieve their goals, but more importantly is that this independence and interest in the service of general economic policy, and supportive.

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The Egyptian government is considering importing natural gas from Iraq

Egyptian sources said the government is currently considering importing natural gas from abroad, especially from Iraq, to ensure the needs of the local market of energy.

Sources quoted in the Secretariat of the National Party policy, the Governor, the Minister of Petroleum Sameh Fahmi, said at a meeting of the Committee on Energy Latest: «It is with the growing needs of energy and cheap gas prices globally, we are looking to import in two ways: the first from Iraq across the Arab gas pipeline, and the second administration of stations for shipments imported in the Damietta free zone ».

Sources did not disclose how the harmonization of agreements and obligations of exporting gas, signed between the Ministry of Petroleum and firms, and what needs to import gas operations Stlbhe proposed.

A senior official in the petroleum sector that Sameh Fahmi said that the import of gas objective benefit from the declining prices in the global market.

Sources in the Energy Commission directed that the Egyptian government to import natural gas is in the light of its recommendations the need to increase the proportion of Egypt's participation in regional energy sources available, to move abroad for the growing needs of its sources, whether gas or petroleum products.

The Iraqi Oil Minister Hussain al-Shahristani has recently pointed to the EU's willingness to import Iraqi gas via a network that stretched from Syria, Jordan and Egypt, to feed the European market, which was the subject of talks with Egyptian Minister of Petroleum and Iraqi officials last year.

http://www.ipairaq.com/index.php?nam...onomy&id=19570

Check oil fiscal revenues exceeded 41 billion U.S. dollars last year

The Oil Ministry announced to achieve financial returns have exceeded the 41 billion dollars during the past year, exports of crude oil export via the ports of South America, and Ceyhan in Turkey.

The press spokesman of the Ministry Asim Jihad, said the financial returns on the export of oil until November of last year reached 36 billion dollars, which is the amount to be provided to the State Treasury.

He noted that a guiding ministry achieved a fiscal surplus is estimated at more than $ 5 billion, through the production of oil in the past two months, which amounted to about 2.4 million barrels per day.

He added that the ministry and, despite its northern export system to sabotage able to compensate for exports through the stockpiling of oil.

http://www.ipairaq.com/index.php?nam...onomy&id=19564

Criticism of the banks, Iraqi government not to invest their deposits in the draft

The face of Iraqi citizens criticized the government banks, for lack of investment and massive financial deposits in development projects, especially that of the current year has seen several resolutions permit the granting of loans to citizens, but the banks prevented the citizen benefit from any of them.

The shopkeepers said the government banks do not benefit from the huge liquidity in the investment in the housing sector, or in the productive and service sectors, especially banking «Iraq» and «good» government, which under the pretext that the «Central Bank of Iraq» prevents them from investing their assets in enterprises, to control inflation, forgetting that investment enhances the country's economic and financial benefit to the banks themselves. And the owner of a shop in Karrada Street in central Baghdad, that the banks follow the procedure «impossible», if so requested, grant a loan of money, may take months, employees in what was described as one of the ministries of housing loans, as revived hope in himself, but was soon disappointed in front of the obstacles encountered.

The Director-General of the Bank «Iraq» Abdul-Hussein al-Yasiri, the «Central» imposition of restrictions since 2008 on the work of the bank, inventory investment through the purchase of stocks and bonds, and prevent it from direct investment to public sector deposits, or the updating of the financial benefits they state funds, as on them, stressing that the possibility of the bank balance, which exceeded 22 trillion Iraqi dinars (20 billion), contributing to the national development process, by withdrawing excess liquidity from circulation, and re-invested directly in the economic sectors, or the granting of credit. He explained that the balance of the bank is liquid government departments and the private sector, civil servant in the credit and indirect investment, by buying Treasury bonds.

http://translate.googleusercontent.c...QwcwqA#post758

Ownership and lease of 50 years for foreign investors in Iraq

Grant amendment to the investment in Iraq has ratified the Iraqi presidency today foreign and domestic investors the right to own land and property and the rental for another 50 years, and the formation of local bodies to invest in the regions and governorates. With today issued another law for consumer protection, in order for adoption of the principle of justice and equality between the processors and consumers of commodities and recipients of services and to maintain their health and safety and to reduce the practice of fraud and manipulation Bamilp industrial packaging industry and is listed by the data and specifications.

The text of the new law, which sent the Iraqi presidency to be circulated "Elaf" on the right of the Iraqi or foreign investor to own land and real estate owned by the State define the terms of allowance calculated in accordance with special regime, has the right to own land and property belonging to the mixed and private sectors for the purpose of the establishment of housing projects exclusively, and to exhibit Iraqi or foreign investors who possess the purpose for which land or property and not by speculation.

In the case of the failure of Iraqi or foreign investor, who owns land or property under this Act to fulfill its obligations within the period specified in the agreement with the board of investment for the donors leave, by the Department of Real Estate Registration, at the request of that body to cancel the registration and return of land or property to its former owner allowance in return for selling him.

The law requires the investor Iraqi or foreign construction of housing units during the period specified in the agreement, sale or lease to the citizens in accordance with the instructions issued for this purpose. For the Iraqi or foreign investor to act in other parts of the housing project throughout the period of leave under the terms of the agreement with him. He pointed out that the right to lease land and property by the State, private and mixed sectors for the purpose of the establishment of investment projects by for no more than the duration of the leave, which does not exceed a duration of fifty years subject to renewal, taking into account the nature of the project and the economic feasibility of it.

And the right investment for the donors to leave the agreement with the Iraqi or foreign investor on the project to return to the State or Territory or the preservation of non-regular in the territory, after the expiration of the leave and the conditions contained in the agreement with him. It allows the Iraqi or foreign investor to transfer the ownership of the investment project in whole or in part during the period of leave to any Iraqi or foreign investor to another new investor continue to work on the project in the same jurisdiction or in another jurisdiction, after the approval of the donors leave, and new investor replaces an investor Previous rights and obligations under this law and the provisions of the agreement with the investor mentioned in the case of transfer of an Iraqi investor or foreign ownership of the project during the period of enjoyment of benefits, facilities and guarantees granted to him, the new investor continue to enjoy until the expiry of that period.

The law exempted from the special procedures of State for the rental of real estate investor, Iraqi or foreign, for the purposes of the establishment of investment projects under the Act from the provisions of law on the sale and rental of state funds No. (32) for the year 1986 or any other law that replaces it, is set the bases for calculating the rent, according to a regulation issued for this purpose, as well as from private rental properties SHIAC State for the Iraqi or foreign investor for the purposes of the establishment of housing projects under this article.

The Act provided for the formation of local investment in the regions and governorates not organized in a region which enjoys the moral and represented by its President or his budget and is financed by the region or province and have the powers granted investment licenses, investment planning and investment promotion, and have the right to open branches in areas under its control in coordination with the national investment to ensure the proper application of the law.

The Authority is headed by a staff member with expertise and competence rank of director general appointed for a period of (5) years the proposal of the conservative non-regular in the territory with the consent of the Council of Ministers and shall be Chairman of the Board of Directors. The President appoints the Vice-degree assistant general manager for five years by region or province that are not organized in the territory, and is Vice-Chairman of the Board of Directors, and the Authority Board of Directors consists of seven members, including chairman and his deputy. Appointed by the Territory and the conservative non-regular in the territory of two staff members from the region or province in the territory of non-regular workers in the constituencies with an interactive, functional grades for less than the director, part-time members of the Governing Council for three years.

The law to be trading in the Iraqi market for securities, equities and bonds listed and gain membership in the private equity and hybrid, but it does not prevent the existence of real estate as an asset of the companies mentioned.

On the applications for registration of companies or investments referred to a law that when an application was rejected, Vlsahbh to request reconsideration by the President of the region or province is part of a region within fifteen days of notification of the rejection decision, and the head of the body concerned to take action on the request within seven days from the date of registration in his office. The petitioner may appeal to the National Investment Commission within fifteen days from the date of rejection, the body deciding on the objection within fifteen days from the date of registration in the office of President of the National Commission for Investment.

If rejected by the National Investment Commission an application was submitted to it, Vlsahbh request the Tribunal to reconsider it within fifteen days of notification of the decision and the Commission should decide on the request within seven days from the date of registration in the Office of the Chairman, whose decision shall be capable of objection the Council of Ministers within fifteen days from the date Althblg it.

The Law new article to Chapter VII, provides compelling the Ministries of Finance, Municipalities and Public Works and the Municipality of Baghdad and in provincial and municipal bodies and the non-related to the Ministry to provide the land and real estate suitable for the establishment of investment projects and inform the national digits, area, ownership and gender and their uses, The National Commission allocated to investors or the Iraqis foreigners, according to the system proposed by the National Authority and the consent of the Council of Ministers.

And will apply the provisions of this law on mixed-sector projects and private-sector and working at the request of management and approval of the Authority without retroactive effect. The projects include the public sector contracted for rehabilitation or operation with the private sector and the mixed benefits and facilities and all guarantees contained in the law. And the reasons for this law, it was pointed out that it comes "in order to facilitate and organize the work in the National Organization for investment, and create a favorable investment climate in Iraq, especially in the housing sector, the removal of legal obstacles that impede it, which will reflect positively on the accelerating process of economic development and reconstruction in Iraq, initiated this law."

Presidential Council endorses the Consumer Protection Act
It also ratified the Iraqi presidency Also today, the Consumer Protection Act, to ensure that basic consumer rights and protection of the illicit practices that lead to damage, and raise consumer awareness and prevent any act contrary to the rules of import, production or marketing of goods or detract from the benefit or lead to mislead the consumer.

This law applies to all natural and legal persons who are manufacturing, processing, sale or purchase, marketing, import or provide services or advertising.

The Act provided for the formation of the so-called "Consumer Protection Board" has the moral personality and financial and administrative independence linked to the Council of Ministers. The Council is chaired by a full-time person with experience and competence in matters relating to consumer protection and holds a university degree, at least initially. The rank of Undersecretary.

The Council consists of members of the rank of director general representing the ministries of industry and minerals, trade, health, agriculture and communications. And members of the highly expert representing the Ministry of the Environment and the Directorate General of Customs and the General Authority for Tourism and the Central Agency for Standardization and quality control, as well as representatives of the Iraqi Federation of Industries and the Federation of Iraqi Chambers of Commerce and one of the agricultural associations, along with three members representing the private sector.

The board shall develop policies and action programs to protect consumer rights organization and raise the level of consumer awareness and to receive and investigate complaints and take appropriate decisions and recommendations in the matter and direct warning to the offender must remove the violation within seven days from the date of notification or trigger its end and the continuation of the violation. And is based on the Council in warning of reports of commissions of inspection.

The Council shall also examine draft laws concerning the consumption and the consumer and to make observations in respect thereof and conducting studies, research and building the information base on consumer protection and definition to the functions and terms of reference and objectives of consumer protection associations and to help in raising awareness of consumer rights and the Council enlisted the expertise and efficiency of state employees or others, whether they are natural or legal persons for wages or bonuses by the Board, as well as the formation of committees checkpoint its headquarters in Baghdad, with branches in the governorates of Iraq. The committees shall be composed of members by the relevant terms of reference on the protection of the consumer and the Council allocated a special budget of the General Budget of the State.

The responsibility of the inspection committees see the specifications of goods and control over the conditions Alkhoznip in stores and venues during working hours or after the provider and the advertiser to cooperate fully in this matter and report the competent authorities for goods damaged and not eligible for health and safety and follow its procedures in coordination with relevant ministries, as well as to reporting breaches to the Council.

The law provides that the customer has the right to obtain all information relating to the protection of legitimate rights and interests and specifications of goods and identify the proper methods to use or how to receive the service as the official language approved and guarantees for the items that require nature of such security for such period as may be agreed with the processor without loading the expenses additional.

For the consumer, all with an interest in the absence of access to information provided in this Article be returned in whole or in part to the supplier and to seek compensation before the civil courts for damage caused to him or his money because of it, as well as access to after-sales service in accordance with the agreement with the equipped and freedom to choose good or service offered for the price without any interference from the processor.

And about the duties of the supplier and the advertiser, the text of the law are binding to ensure that you install the data, specifications and the components of the product, especially beginning and end of the power and the country of origin before it is put on the market or prior to the sale or purchase or advertising and comply with the specifications of Iraq or global standard to determine the quality of the goods imported or manufactured locally shall be the Central Agency for Standardization and Quality Control is the reference for this purpose with the use of Paljhat animate the relationship.

Third: To take the name and business address and Kidahma fundamentalism in the records of the competent authorities and keeping records of approved activities and maintain Bossullac sale and purchase or reproduce, display or presented to the competent official authorities at the request or to enable them to be found in the place without any opposition. Olzmanma as not to promote any means of media, publishing and advertising of the product or service that the specifications are available for local or international standard adopted, and to allow for official animate the relationship may inspect and search at the work place to obtain samples of the reservoir and displayed, in order to conduct tests for the formally accredited to determine suitability for human consumption.

The Act prohibits the provider and declared the practice of fraud and deception, fraud and concealment of material fact composed of approved standards in goods and all services or the use of force or the reluctance with inspection committees and representatives of official bodies animate the relationship and prevent them from carrying out their duties entrusted to them or obstructing by any means, production, sale, display or Declaration for goods and services contrary to public order or morals, or obscure, or alter or remove the expiration date or distortion and repackaging products damaged or expired canisters and covers that carry power to a different truth and misleading Mstlhec.

The law is punishable by imprisonment for a period of not less than three months or a fine of not less than one million dinars, or both Any person who violates the provisions of Article (9) of this Act.

Second: Imprisonment for a term not exceeding three months or a fine of not more than a million dinars, or both Any person who violates the provisions of Articles (7 and 8) of this Act.

Third: Detective granted for any crime punishable under the law a reward of not less than one hundred thousand Dinars and not more than one million dinars to pay the party that is relevant if it leads to them telling the news to gain a conviction and the degree of resolution bits. I get under the law of goods and services dealt with by the supplier or marketer or advertiser of quality standards and a mechanism of supply and demand in relation to prices and production.

On the reasons for the ratification of this consumer protection law, the Presidency explained that it comes "in order to protect the consumer and adoption of the principle of justice and equality between the processors and consumers of commodities and recipients of services and to maintain their health and safety and to reduce the practice of fraud and manipulation Bamilp industrial packaging industry and is listed by the data and specifications".

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