Program to privatize state-owned companies cut advanced stages - TY Playa for sending this to me!

Ghadban: program to privatize state-owned companies cut advanced stages
The time on Saturday, 23 March / March 2013 07:18 | |


Baghdad / Orr News

Said the advisers in the Presidency of the Council of Ministers that the restructuring program of state-owned enterprises reached advanced stages, indicating that the next phase includes the evaluation of corporate assets by a foreign consultant or local.

The chief adviser Thamer Ghadban said that "management team that is implementing a program Alhecalh and who oversaw it had made ​​considerable progress in this area in coordination with the departments of state-owned companies as companies and ministries of trade, industry, construction and housing, water resources, which is committed to moving the program restructuring."

He angered that "the next phase of the program Alhecalh include contracting companies with advisory foreigner or if any local, to evaluate the assets of assets and market prices have been providing funds within the budget for this purpose," adding that "the consultant will assess assets and put a road map detailed converted to Companies operating on a commercial basis intervention eventually fall within the Iraqi market for securities and turn their assets into shares are traded. " He added that "the actual end of the restructuring of state-owned companies is to make companies competitive and development and deal with the challenges that do not rely on state funding."

And suffer a number of state-owned enterprises in some of the ministries of financial problems stopped working a number of companies after 2003 and still bears pay the salaries of state employees. And revealed the advisers ranked as prime minister for the details of the currently approved plan to restructure state-owned enterprises and down to turn them into profitable companies and the most prominent of the allocation of $ 100 billion dinars for companies that have the ability to compete in the market.

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This is a very good article and another indication of Iraq shifting to the global investment scene. In summary, this article shows us that state owned companies are restructuring their assets which includes shares for sale for investment.

In the bank I work for, the restructuring of debt is somewhat common. In this process, outstanding balances are reconfigured and reset and a portion of the asset is converted to equity shares. This is what we are seeing here.

"the consultant will assess assets and put a road map detailed converted to Companies operating on a commercial basis intervention eventually fall within the Iraqi market for securities and turn their assets into shares are traded. "

Here is the bottom line: this shows us that the issuer of the assets (state-owned companies) are healthy. It also tells us there is investment appetite and finally, it tells us there is faith in these state-owned companies.

Add this to the list of indicators that Iraq is progressing.... this one, in finance and economics.

TYVM Playa for sending this to me!

Thanks nice breakdown.

Shredd ... YVW and ty for the excellent explanation. Exciting times.