Parliament: a project to form a federal body for the management and distribution of national wealth
02/10/2009
Baghdad / Orr News
Committee revealed the regions and governorates in the Iraqi parliament of its intention to introduce a bill to form a federal body assume the functions of management and distribution of the wealth of the country.
A member of the Committee Yusuf Ahmed in a press statement, "We are preparing a draft law regulating the management and distribution of financial revenues to the provinces and territories through the formation of the Iraqi federal body composed of a number of economists and legal experts as well as representatives of local governments take over that job."
This is the constitutional issue there is provision in the Iraqi constitution refers to the need to set up in order to achieve a fair distribution of wealth among all the provinces and territories in the country, which would contribute in ending the existing differences between the federal government in Baghdad and the Kurdistan Regional Government," as he put it.
The issue of distribution of wealth among Iraqis, especially oil and gas wealth of the most sensitive issues outstanding between the governments in Baghdad and Erbil.
Article (106) that "the law establishes a public body to oversee the allocation of federal revenues consisting of experts from government and the provinces and the provinces and representatives responsibilities verify the fair distribution of grants, aid and international loans under the entitlement of the regions and governorates not organized in the territory, and verification of the optimal use of federal financial resources and sharing, as well as ensure transparency and fairness in the allocation of funds to provincial and district government in accordance with the established percentages "according to the Constitution.
