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A government committee decides to increase the ceiling of documentary credit with private banks
A government committee decides to increase the ceiling of documentary credit with private banks
The Ministerial Committee on Economic Affairs decided on Tuesday to increase the ceiling of government documentary credits with private private banks to 50 million dollars instead of 30 million without the need to mediate the Iraqi Trade Bank.
"The Ministerial Economic Affairs Committee held its 25th session today under the chairmanship of Minister of Planning Salman Jumaili and decided to increase the ceiling of government documentary credits with private private banks to 50 million dollars instead of 30 million without the need to mediate the Iraqi Bank for Trade "He said.
"The Committee also decided to approve the compensation of commissions due to the extension and strengthening of documentary credits. The committee also decided to exclude the Foundation of Martyrs to contract with the former engineering consultancy office for the project of desalination and water purification and bottling in the province of Basra and the amount does not exceed 50 million dinars because the project provides clean water for the slides Broad of the people of the province. "
The Hindawi recommended the Committee on Economic Affairs Ministerial to the Council of Ministers to agree to exempt the material of plastic granules from customs duties to the zero limit in order to encourage the local industry in this area.
He added that "the committee agreed to re-work for the company executing the project to establish a gymnasium capacity of 7,000 spectators within the youth city in the province of Baghdad," adding that "another decision issued by the Committee to increase the total cost of the project to establish the Civil Status Department in the western table in Karbala province, As well as another decision to exclude the Ministry of Higher Education and Research of the controls to pay the dues of the company executing the processing of the University of Kufa Internet service.
"The Economic Affairs Committee hosted a number of businessmen, investors and representatives of the Iraqi private sector, during which they discussed a number of proposals submitted by the private sector aimed at addressing the consequences of the financial crisis on investors and the private sector."
The meeting was attended by Minister of Industry and Minerals Mohammed Shiaa al-Sudani, Oil Minister Jabbar al-Luaibi, Central Bank Governor Ali al-Alaq, Chairman of the National Investment Authority Sami Al-Araji, Undersecretary of the Ministry of Finance Maher Hammad and economic advisor to Prime Minister Kazim al-Hassani.
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