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The integration of self-financing companies is an important step
10/11/2015 0:00
BAGHDAD
Government proceeded within the reform process and to take the decision to integrate the self-financing companies belonging to the Ministry of Industry and Minerals, in a move aimed at boosting the country's economy, and increase its revenue contribution to the gross domestic product.
General Secretariat of the Council of Ministers announced the integration of belonging to the Ministry of Industry and Minerals of public companies and self-funded, since the ministry directed taking this decision in accordance with the principle of limbering in the number of public administrations and the similarity of artistic activity and geographic location, based on the provisions of General Companies Act No. 22 of 1997 as amended, and re Naming the merged companies in line with the
Nchatha.oppema matter said economic expert on behalf of Antoine in a statement »Sabah» that this decision is not a fundamental solution to these companies, but a solution is starting to reduce departments in these projects and reduce costs and feminine device
Country.
Made in Iraq
As for the root of the solution, it is, according to Antoine in how to turn these companies into production, and the development of effective methods and ways to finance it and make it produce goods «Made in Iraq» to contribute to the GDP, instead of granting the monthly payroll without producing.
He noted that the Ministry of Industry and Minerals has spent over 12 years to approximately 15 trillion dinars salaries without any input in the production, so is this decision the restructuring of these companies, and expressed hope that the competence and integrity shall be the foundations upon which to build this structure, instead of It is based on quotas.
The government's decision after Iraq faced pressure in the provision of financial resources, especially after the drop in oil prices in July 2014 to its dependence on crude oil imports by 90 percent in the construction of its budget with the need to cover the war on terrorism and the provision of services and the salaries of personnel expenses And retirees.
He said Antoine that the Intergovernmental Panel competent in the field of the industrial sector, which is headed, has worked hard to develop solutions that support the advancement of Iraqi industries, indicating that it was splitting companies into 5 sections (profitable companies, clog the expenses, you need to help, losing, do not work) , as was the proposal to privatize part of it and the other supports to stroll its privatization to be clean.
He stressed the transfer to the industrialists with experience, and retain the workers themselves if they had the ability and efficiency, and become important contributors in the product, stressing that a person hard offers economic feasibility when buying the project, is a real plans in place starting from the operation to know the viability and efficiency.
A spokesman for the Office of the Prime Minister Saad al-Sabri said in a press statement, that «this decision came as a prelude to open investment and privatization of these companies through IPO or put up for inward investment And external ».
Also noted that the downsizing and consolidation of these companies is an important step process to find a suitable atmosphere for the privatization process, thus activating the role of investment, including contributing to the re-production of these factories that once covered a large part of the needs of Iraq.
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