SteveI – Read All About It 5-31-13

read all about itSteveI: Greetings again.

This is a huge bit of news but you need to read it and follow the logic. If you are not sure about this investment, then I have no clue as to helping you understand.

This post is dedicated to Ocrush and Ray and another member I will not share. We have been able to confirm some very significant activities are willing go share then now.

What we are presenting in this post is 100% factual. So when we reference something, it is fact not fiction and will post the link and article below in this post.

So here is how my day started, I received a call from Ray (very early) that had some very positive news related to it. My first thought was, ok, what now.

Then here is the news from this call.

Ocrush: First, I asked Diane to find me and send a post that was put together in January 2013 (below:)

-Next, I found the article that my cousin told me about. This is the pay scale law that was discussed and brought forward by the cabinet. The meeting took place on Sunday (May 26th).

If you notice the highlighted part it speaks about the Bremmer initiative that was put forward as law back in 2003, so they could release the new dinars (the one’s we hold) and adjust the pay scale to it.

The cabinet on Sunday (May 26, 2013) are disqualifying this CPA law and bringing forward the new pay scale law.

This new pay scale law, just like in 2003, will introduce the new Lower Denoms and set the new pay scale:)) It is happening again 10+ years later!!!!! The reason I asked Diane to find me the past post, it shows what the pay scale law and releasing the new dinars.(the one’s we hold)!

Please read the third paragraph down to this link:))

http://govinfo.library.unt.edu/cpa-iraq/budget/March_Salaries.html

Here is the article: 18 March 2004

Policy on Payment of Public Sector Salaries in March-April 2004

This policy applies to all State employees and employees of State Corporations and other self financed entities. See below for more details.

Freeze on Hiring and Promotions.

In accordance with the August 5 CPA OMB memo, no Iraqi Ministry, agency, company or other government organization may hire employees at a level above the applicable end strength limit for that entity, as approved in the current FY04 National Budget (effective January 1, 2004), except as approved by the Interim Minister of Finance and the CPA Director of Management and Budget under the established procedures. Promotions are also temporarily frozen.

Salary Scale. Salaries will be paid in new Iraqi dinar at the new salary scale, as set out in CPA Order No.30 dated 08 September 2003.

All Ministries were funded to implement the new salary scale in January and were supposed have it completed by the end of February.

Any ministry that has transferred over to the new salary scale must be able to pay salaries from their salary budget including the additional 40% increase that was distributed by the Ministry of Finance.

It must be understood that all employees did not receive a 40% increase, but rather 40% of the total salary budget was added to cover those employees that will receive more under the new scale.

All ministries must transfer over to the new salary scale as a whole ministry, as opposed to one department or governorate at a time. If the salaries are above the allotted amount then the ministries must redo the placement of employees in the new salary scale, no ministry will be given additional funds for salaries beyond the 40% increase. Employees will continue to be paid at the 4-tier scale until the transfer of the entire ministry is complete.

State Owned Enterprises. Employees of State-Owned Enterprises (SOEs) receiving support from the Ministry of Finance shall be paid at the four-tier scale for February and all subsequent months until a formal decision is made regarding salary levels for employees of State-owned Enterprises.

Any differences in salary, stemming from the formal decision, shall be given as back pay for those months in which the difference was not paid for February and all subsequent months.

Any SOE not requiring funding support from the Ministry of Finance may choose to move working employees to the 11-tier pay scale and pay these employees accordingly.

Facilities Protection Service. Effective 01 March all Ministries are responsible for the salaries and hazardous duty pay for their Facilities Protection Service (FPS) guards.

Ministries shall submit FPS payroll funding requests to the Ministry of Finance on a monthly basis in accordance with procedures described below. Coalition Provisional Authority Order No. 27 dated 04 September 2003 lays out guidance regarding the establishment and administration of the FPS.

All ministries dealing with personnel providing security should refer to the Security Salary Matrix at
http://govinfo.library.unt.edu/cpa-iraq/budget/revisedsalarymatrix.pdf

Back-pay and Recovery of Excess Pay. Employees who have not received their full salary entitlement for the previous six months shall be entitled to payment of the balance. Any double payment or overpayment of previous month’s salaries shall be deducted from February salary payments.

Procedure. All salary payments will be authorized by Ministry of Finance officials, acting in accordance with the established policy, through the Treasury account. Payments will be executed through the Rafidain and Rasheed banking systems, which act as the agent of the Ministry of Finance.

The Director General of Accounts of the Ministry of Finance will issue a circular to all Ministries and Departments setting out the procedure for the payment of March salaries.

To obtain authorization for disbursement of funds for salary payments for both centrally financed workforces and for the employees of State Corporations and other self-financed entities for which they are responsible, Ministries, and their relevant Directorates are responsible for providing the following:

Accounting for previous month payments. Each ministry must provide payroll execution information to the responsible Accounts Departments at the local Treasury Office or Ministry of Finance.

Information should include funds received, funds paid out, number of employees in each pay grade that were paid (by directorate) and the balance remaining. Unused payroll funds will be redeposited in the bank from which they were withdrawn and a receipt filed with the local directorate accounting manager.

If, in previous months, payroll payments were inconsistent with Ministry of Finance guidelines at that time, the Ministries are required to provide relevant accounting of those salaries and emergency payments before additional funds can be released.

Information should include details of any such salary or emergency payments, including a list of names to which the money was paid. The Ministry of Finance should provide details on the previous month’s payroll execution by Ministry to the CPA Office of Management and Budget.

Requests for payment for current month. For administrative convenience, Ministries are to present a single report, and single request for release of funding for all their directorates/spending units, rather than separate requests for different directorates/spending units.

Requests for payment should include a cover letter written on official paper, approved by the three senior officials of the directorate/spending unit and signed by the Director General of Administration and Finance. The request should also include a spreadsheet with the names and grades of the employees to be paid.

If required payroll exceeds that of the previous month, the request for payment must be approved by the CPA Senior Advisor. Any actions that will cause the increase of more than 1% in the pay bill of a workforce over the level paid in August must be approved by the CPA Senior Adviser to the Ministry of Finance before the payroll can be executed.

If the governorate demonstrates responsible payroll practices consistent with Ministry guidance, the Baghdad Ministry of Finance can delegate payroll management to the local branch of the Treasury, provided the Senior Advisor of the Ministry agrees.

Executing payroll. Internal audit sections in each ministry shall review the payroll and salary process for conformity with approved methods for payment by the Ministry of Finance, as well as the integrity of individual payments.

In each accounting unit the three person committee shall oversee the distribution of salaries. The names of these individuals will be kept on file at the Agent Bank authorizing the release of funds. A post payment audit shall be performed by the Board of Supreme Audit wherever possible.

The Ministry of Finance shall issue authorization to designated banks to provide specified funds to named representatives of Ministries and Departments to pay salaries.

Presentation of this authorization, which may be transmitted electronically, at the designated bank, will release the specified funds to the named representatives for the purpose of paying salaries.

Contract employees will be paid from operating expenses, as provided through the budget, and not out of payroll.

************************************************************************************

Now read this article that is dated May 27, 2013!!

http://www.alsabaah.iq/ArticleShow.aspx?ID=47460

Government begins preparing the new salary scale

05/28/2013 12:00 AM

Anger: the inclusion of the three presidencies staff

BAGHDAD – Omar Latif

The government began to prepare him a new salary for employees includes added benefits work and the high cost of living and the seriousness of the certificate and increased allocation of marital and children.

According to the head of the advisers in the General Secretariat of the Council of Ministers Thamer Ghadhban the peace new will include all state employees including staff of the three presidencies.

Anger said in a statement singled out (Center Brief for the Iraqi Media Network): “The committee held its first meeting of the day yesterday (Sunday) to prepare him a uniform salaries of state employees.

He did not Ghadbaan any information on what is in peace, however, reliable sources confirmed for “Center Brief for the Iraqi Media Network,” that peace will increase in the salaries of most of the staff, and the allocation of work and the cost of living and a certificate and dangerous, with increased allocations marriage and children.

And on the extent to intercept the World Bank on peace new, said Anger: “It is not for the World Bank to do with the preparation of this peace or changes in it.”

On the date of completion of the peace the new Prime advisory board that “there is work very long waiting for the Commission to prepare this peace.

“It is said that Minister of Planning and Minister of Finance Agency, Dr. Ali Shukri detect him a new salary achieve justice among the staff of all government departments after reducing the gap between the salaries of grades.

said Shukri in an earlier statement” Center Brief for the Iraqi Media Network, “that” blessings of the new salary will take into account the certificate and give allocations on the basis of that and evenly, and addresses the problems created by the salary scale current and prepared by the civil governor of Paul Bremer,

“noting that he” will also problems faced by employees in some ministries who feel injustice, as well as to avoid differences salaries between ministries and state institutions. ”

http://translate.goo…w.aspx?ID=47460

Here it is: wherever you read “peace” replace it with “LAW”.

In conclusion: we know the 2013 budget was not opened yet. Not because the actual budget holds the new rate but the pay scale law holds the rate and this is done by releasing the new lower denoms.

Follow history and it will set you FREE 🙂

************************************************************************

Summary

In summary of the above facts, there are a few we can not and will not share at this time. With the laws passed and ready to be passed, it is Iraq’s time to move forward.

There is so much more to share but we can not yet do this. Most will read the news and say “so what”? After reading and verifying so much, we are finally there.

You all now are wondering what next, well, the RV is next. I have a new timeframe and will share that in our chat tonight.

Now there is more, if you recall my post “Follow the money” we need to look at the ISX.

Money:

Hey Team:

Another very interesting event on the ISX! Asiacell has announced a cash dividend for stockholders. The interesting part is the dividend says it is for 200% of 2012 profits, which should be approximately 66 dinar. Based on the formal announcement below it says 2 dinar per share. The math does not even come close.

Asiacell Communications PJSC (TASC) approved in its GA meeting on May 22, 2013 to distribute 200% cash dividend (IQD2.0 per share) from its 2012 profit.

Here is a thought from our ISX Analyst…………………: “a 200% dividend increase on the current value of the dinar 1160 would be a RV of 8.4 cents. Could this be a figure they are floating that takes into consideration the RV?

Remember there was an article that Asiacell stock holders could anticipate a 9.6 TIMES (not %) increase by the end of the year. I think Asiacell is factoring in the RV into their projections, IMHO!”

This is huge, absolutely huge. Wake up folks. God Bless, Steve

Steve from chat

[SteveI] Greetings all

[SteveI] So, did everyone have a nice weekend?

[SteveI] With respect to the August 5 CPA OMB, it was repealed on Sunday. This is huge.

[Domino] SteveI That had to do with the previous pay scale correct?

[SteveI] What that did was not allow for the first time in history for the CBI to release the new lower currency. Huge

[SteveI] I know have a date. Hang in there. I am working my tail off to get you this, so relax.

[SteveI] It is all good. Or maybe upgrade to GREAT I am very happy.

[SteveI] I am here for the facts. I just want you members to know that you are in a position of finally getting your dreams.

[SteveI] I have spent countless hours worrying about this for you guy’s and how do I share the good or bad. So far, all good. These posts just do not appear out of thin air, it takes hours to put together.

[SteveI] I am here to share what we can. This is very costly financially but if it saves and builds hopes then it is worth it. One life at a time.

[SteveI] You all need to remember, this is not about SteveI, but we are a team

, , , , , , ,

No comments yet.

Leave a Reply