Kurdistan Region confirms sale of oil via Sumo: Our money will be given to Baghdad, 14 MARCH

Economy News – Baghdad

The Kurdistan government confirmed on Wednesday the region’s firm position to implement the amendment of the budget law so that the region’s oil is exported and sold through Sumo and its proceeds are returned to the Federal Ministry of Finance.

A statement from the Presidency of the Council of Ministers of the Kurdistan Region, seen by “Economy News”, said that “the President of the Council, Masroor Barzani, held a meeting in the presence of his deputy Qubad Talabani, where the Prime Minister instructed the Ministry of Finance and Economy to prepare a salary distribution schedule for the employees of the Kurdistan Region for February, after depositing 958 billion dinars in the ministry’s account for this month.

The Council decided to start distributing salaries from tomorrow. All ministries and institutions have also been tasked with preparing salary lists for March urgently, to send them to the Federal Ministry of Finance, with the aim of disbursing them before the blessed Eid al-Fitr holiday.

The statement stressed that “in the first paragraph of the meeting, Kamal Mohammed Saleh, Acting Minister of Natural Resources, reviewed the latest developments in the joint meetings between the Ministry of Natural Resources and the Federal Ministry of Oil in the presence of representatives of oil companies.”

The minister explained, “The efforts made to resume the export of the region’s oil within the framework of the Federal Budget Law, and the Council of Ministers praised the efforts of the Ministry of Natural Resources to accelerate the process of resuming oil exports and working jointly with the Iraqi Ministry of Oil to resolve obstacles related to the process.”

The Council also stressed “the firm position of the regional government to implement the amendment of the budget law so that the region’s oil is exported and sold through Sumo and its proceeds are returned to the Federal Ministry of Finance.”