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[size=52]A deputy diagnoses the reasons behind “creating loss-making companies” in the Ministry of Industry[/size]
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Information / Baghdad
On Monday, Representative Yasser Al-Husseini identified the main reasons behind what he called “the creation of loss-making companies in the Ministry of Industry.”
Al-Husseini told Al-Maalouma, “Iraq’s economic situation, despite its challenges, has many advantages that prevent the presence of losing companies in the Ministry of Industry in comparison to the capabilities and markets, but the truth is that there is a long series of companies that can be classified on these lists.”
He added, "The merger of companies and the assumption of non-specialized departments that lack experience and skill are accompanied by numerous files of financial corruption, waste of money, failure of production modernization lines, poor performance, and failure to exploit competencies and technical energies. These are all reasons behind the emergence of loss-making companies, despite spending hundreds of billions of dinars on modernizing them for years."
He pointed out that "it is not possible to build a strong national economy without reviving the role of industry in Iraq through a systematic road map that takes into account the challenges and pushes for increased production," pointing out that "the industrial sector can absorb at least more than 20% of unemployment in the country."
The industry in Iraq has been living in a difficult situation for years, with most factories and laboratories in the governorates closed for various reasons.
[You must be registered and logged in to see this link.]
On Monday, Representative Yasser Al-Husseini identified the main reasons behind what he called “the creation of loss-making companies in the Ministry of Industry.”
Al-Husseini told Al-Maalouma, “Iraq’s economic situation, despite its challenges, has many advantages that prevent the presence of losing companies in the Ministry of Industry in comparison to the capabilities and markets, but the truth is that there is a long series of companies that can be classified on these lists.”
He added, "The merger of companies and the assumption of non-specialized departments that lack experience and skill are accompanied by numerous files of financial corruption, waste of money, failure of production modernization lines, poor performance, and failure to exploit competencies and technical energies. These are all reasons behind the emergence of loss-making companies, despite spending hundreds of billions of dinars on modernizing them for years."
He pointed out that "it is not possible to build a strong national economy without reviving the role of industry in Iraq through a systematic road map that takes into account the challenges and pushes for increased production," pointing out that "the industrial sector can absorb at least more than 20% of unemployment in the country."
The industry in Iraq has been living in a difficult situation for years, with most factories and laboratories in the governorates closed for various reasons.
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