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Industry: the complexities of banking in the proceedings at the opening credits to the Trade Bank of Iraq
02/09/2012 8:16
Baghdad, "Iraq's gate," Mohammed Sharif
The Ministry of Industry and Minerals Thursday and presence of complications in banking procedures at the opening credits to the Trade Bank of Iraq.
A statement of the Ministry on the report of the Office of Inspector General, "the presence of complications in banking procedures at the opening credits to the Trade Bank of Iraq, causing delays in the implementation of contracts and hence the cessation of rehabilitation and development sought by the ministry and companies are given priority for these contracts to projects that provide job opportunities for companies, the Ministry and the sector taking into account the special jurisdiction and the exact same business. "
The statement added that "the rates of implementation of the investment budget for the end of 2011 amounted to more than 80% distributed on (114) project, according to the industrial sectors of the Ministry of Industry and Minerals," pointing out that there are amounts of intermediate of the allocation in 2011 of $ (19) billion dinars will be re-allocated for the coming year, as had been agreed with the Ministry of Finance on the amount that he did not deliver within the allocations in 2011 and the amount of (70) billion dinars to be exploited in order to open the adoption of the Iron and Steel Company. "
He said the Office of the Inspector General, "according to the statement" the importance of the preparation of ongoing studies by the formations of the ministry regarding the production capacities of companies benefiting from the investment budget before and after allocation of amounts and rates of evolution in which as well as the extent of improvement in the financial position of companies benefiting from this budget and the preparation of accurate assessment of the feasibility study for projects that fall within the investment budget and create a development plan for approval in 2012.
The statement concluded his emphasis on the need to facilitate the procedures for Contracts and the exclusion of the public companies of the Implementing Regulations of government contracts and to activate the performance of companies and development should be approved and funded by donors, in coordination with the purpose to draw up a plan to cover the amounts Moazath investment.
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02/09/2012 8:16
Baghdad, "Iraq's gate," Mohammed Sharif
The Ministry of Industry and Minerals Thursday and presence of complications in banking procedures at the opening credits to the Trade Bank of Iraq.
A statement of the Ministry on the report of the Office of Inspector General, "the presence of complications in banking procedures at the opening credits to the Trade Bank of Iraq, causing delays in the implementation of contracts and hence the cessation of rehabilitation and development sought by the ministry and companies are given priority for these contracts to projects that provide job opportunities for companies, the Ministry and the sector taking into account the special jurisdiction and the exact same business. "
The statement added that "the rates of implementation of the investment budget for the end of 2011 amounted to more than 80% distributed on (114) project, according to the industrial sectors of the Ministry of Industry and Minerals," pointing out that there are amounts of intermediate of the allocation in 2011 of $ (19) billion dinars will be re-allocated for the coming year, as had been agreed with the Ministry of Finance on the amount that he did not deliver within the allocations in 2011 and the amount of (70) billion dinars to be exploited in order to open the adoption of the Iron and Steel Company. "
He said the Office of the Inspector General, "according to the statement" the importance of the preparation of ongoing studies by the formations of the ministry regarding the production capacities of companies benefiting from the investment budget before and after allocation of amounts and rates of evolution in which as well as the extent of improvement in the financial position of companies benefiting from this budget and the preparation of accurate assessment of the feasibility study for projects that fall within the investment budget and create a development plan for approval in 2012.
The statement concluded his emphasis on the need to facilitate the procedures for Contracts and the exclusion of the public companies of the Implementing Regulations of government contracts and to activate the performance of companies and development should be approved and funded by donors, in coordination with the purpose to draw up a plan to cover the amounts Moazath investment.
[You must be registered and logged in to see this link.]
