PFC: The agreement between Baghdad and Erbil is fair to both parties

Sunday 06th December 2020 - 18:31

 PFC: The agreement between Baghdad and Erbil is fair to both parties

Baghdad - INA - Noor Al-Zaidi

The Parliamentary Finance Committee announced today, Sunday, that the agreement between the federal government and the Kurdistan region included the oil and port files, confirming that the agreement is fair to both parties.

Committee reporter Ahmed Al-Saffar said to the Iraqi News Agency (INA): "The agreement concluded between the federal government and the Kurdistan region is fair to both parties and binding, because it is signed by the two governments," indicating that "the agreement includes the oil and port files."

He added: "The oil file is calculated for all oil production and exports in the region, excluding the share of the existing companies, and the remaining 250 thousand barrels per day, which are delivered to the SOMO company, in addition to 50% of the revenues of the border ports, according to the Financial Management Law, in exchange for determining a share. Territory from the federal budget, out of actual spending by 12.67%. "

 Yesterday, Saturday, the Kurdistan Democratic Party announced a preliminary agreement regarding the 2021 budget.

A Member of Parliament for the Kurdistan Democratic Party, Dana Jaza, told the Iraqi News Agency (INA): "The agreement includes the delivery of the region's oil and half of the imports of the border crossings to the federal government."

Jaza added, "The agreement includes exporting oil through SOMO only, and the region's share in the budget is 12.67%."