Electricity: foreign companies asked for guarantees from the banks of their countries to implement projects in Iraq
Editor: CC | SZ Monday 01 August 2011 19:01 GMT
One of the electricity companies
Alsumaria News / Baghdad
Revealed the Ministry of Electricity on Monday, the request of a number of foreign companies to obtain guarantees from the banks of their countries to implement projects in Iraq, attributed the reason for not completing some special projects in the field of electric power to the controls and financial systems of Iraq, what was seen as the central bank that the survival of the country under Chapter VII impedes the work of these companies.
A spokesman for the ministry Musab teacher in an interview for "Alsumaria News", "A lot of foreign companies require that you get guarantees from banks operating in their countries," noting that "the financial controls and bank guarantees of Iraq has made many businesses reluctant to complete the work in the electric power projects, especially as he was the conclusion of contracts with a number of companies. "
The teacher explained that "those controls and financial laws require companies to take guarantees from the Iraqi banks exclusively or foreign banks that have branches in Iraq."
For his part, Vice Governor of the Central Bank of the appearance of favor that "Iraq is still under Chapter VII, which does not allow at present to enter the companies for legal reasons and other reasons," adding that "if a dispute arises between a foreign company and the Iraqi side, the international arbitration is not significant contract. "
Saleh added that "there are lists of technological forbidden entry into Iraq, which he has to pay attention to it," he said, adding that "States still believes that Iraq was an aggressor to peace, and this is kufr, because of Iraq to make peace," as he put it.
Salih stressed that "the seventh item needs to be economic effort diplomat out of it, because it disabled the biggest," stressing that "all that is said is a pretext invoked by states to keep Iraq in the darkness as long as possible, and we need a diplomatic effort of a particular kind to bring the best global companies. "
Saleh pointed out that "the problem is not the funding but I do not think that the contracts concluded with companies of some countries is sufficient to bring the giant companies, but Iraq needs to attract companies to implement the project," pointing out that "what is available from the investment budget is sufficient and covers projects of the country, both in the electricity sector or other sectors. "
In turn, the economic expert considered that the name of Jamil Antoine "contracts when they are not run by people with competence and legal experts and economists, you will not be accurate or identical to the conditions that follow for those projects."
The Iraqi cities have seen since mid-February, many of the protests against the deterioration of services, particularly electricity and long hours of power cuts to about 20 hours a day or more.
The Iraqi Prime Minister Nuri al-Maliki, on 17 February, to end the electricity crisis in the country within a period not exceeding 15 months, in a series launched by the pledges in response to the movement of mass protests witnessed by the majority of Iraqi cities in the 15 of February.
Indeed, Iraq has a shortage of electric power since the beginning of 1990, and increased hours of rationing electricity after 2003 in Baghdad and the provinces, because made a lot of stations as well as sabotage attacks on facilities over the past five years, with increased hours of power cuts for citizens to about twenty hours per day, increased the parents to the adoption of small power generators and community at a time when the hot weather as a steady rise in excess of 51 degrees Celsius.
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Editor: CC | SZ Monday 01 August 2011 19:01 GMT
One of the electricity companies
Alsumaria News / Baghdad
Revealed the Ministry of Electricity on Monday, the request of a number of foreign companies to obtain guarantees from the banks of their countries to implement projects in Iraq, attributed the reason for not completing some special projects in the field of electric power to the controls and financial systems of Iraq, what was seen as the central bank that the survival of the country under Chapter VII impedes the work of these companies.
A spokesman for the ministry Musab teacher in an interview for "Alsumaria News", "A lot of foreign companies require that you get guarantees from banks operating in their countries," noting that "the financial controls and bank guarantees of Iraq has made many businesses reluctant to complete the work in the electric power projects, especially as he was the conclusion of contracts with a number of companies. "
The teacher explained that "those controls and financial laws require companies to take guarantees from the Iraqi banks exclusively or foreign banks that have branches in Iraq."
For his part, Vice Governor of the Central Bank of the appearance of favor that "Iraq is still under Chapter VII, which does not allow at present to enter the companies for legal reasons and other reasons," adding that "if a dispute arises between a foreign company and the Iraqi side, the international arbitration is not significant contract. "
Saleh added that "there are lists of technological forbidden entry into Iraq, which he has to pay attention to it," he said, adding that "States still believes that Iraq was an aggressor to peace, and this is kufr, because of Iraq to make peace," as he put it.
Salih stressed that "the seventh item needs to be economic effort diplomat out of it, because it disabled the biggest," stressing that "all that is said is a pretext invoked by states to keep Iraq in the darkness as long as possible, and we need a diplomatic effort of a particular kind to bring the best global companies. "
Saleh pointed out that "the problem is not the funding but I do not think that the contracts concluded with companies of some countries is sufficient to bring the giant companies, but Iraq needs to attract companies to implement the project," pointing out that "what is available from the investment budget is sufficient and covers projects of the country, both in the electricity sector or other sectors. "
In turn, the economic expert considered that the name of Jamil Antoine "contracts when they are not run by people with competence and legal experts and economists, you will not be accurate or identical to the conditions that follow for those projects."
The Iraqi cities have seen since mid-February, many of the protests against the deterioration of services, particularly electricity and long hours of power cuts to about 20 hours a day or more.
The Iraqi Prime Minister Nuri al-Maliki, on 17 February, to end the electricity crisis in the country within a period not exceeding 15 months, in a series launched by the pledges in response to the movement of mass protests witnessed by the majority of Iraqi cities in the 15 of February.
Indeed, Iraq has a shortage of electric power since the beginning of 1990, and increased hours of rationing electricity after 2003 in Baghdad and the provinces, because made a lot of stations as well as sabotage attacks on facilities over the past five years, with increased hours of power cuts for citizens to about twenty hours per day, increased the parents to the adoption of small power generators and community at a time when the hot weather as a steady rise in excess of 51 degrees Celsius.
[You must be registered and logged in to see this link.]