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Iraqi industry awaits a “rescue operation”
The first 03/04/2024
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Baghdad: Haider Al-Jaber
Many may not be surprised if they learn that most of the Iraqi government factories are “losing”, with the exception of only two factories, but they will be surprised if they learn that the Iraqi employee (in those factories) costs the state many times his salary, which means that the loss is double, which leads to Thinking about a radical solution may be accompanied by pain.
The Ministry of Industry is moving towards activating and revitalizing government factories through partnership with the Iraqi and foreign private sectors, thus taking these factories to a higher level.
Ministry spokesman, Duha Muhammad Saleh, told Al-Sabah: “The number of factories affiliated with the Ministry of Industry is 295, of which (101) have been stopped. A committee has been formed to study the reality of these stopped factories.”
She added, "Most of the factories are old and their lifespan has ended, so what can be rehabilitated and opened, such as (Babylon Tires) and cement factories, have been rehabilitated. As for those that cannot be rehabilitated, we have gone into partnership with the local and foreign private sector," indicating that "many investment opportunities have been presented." During the Baghdad and Basra conferences, which were attended by the Prime Minister. She continued, "Many investment opportunities have been presented for a number of important industries such as phosphate, fertilizers, cement, petrochemicals, mining, and others. We have received offers from specialized international companies, and sulfur projects have been referred to partnerships with the private sector, while phosphate offers submitted by specialized companies are being studied." She explained, "Our plan is to move towards partnership with the private sector to produce new factories and modern lines with advanced technology," explaining that "the winning factories are (the Fertilizer Company in Basra) and (the Cement Company) only."
For his part, economic expert Adham Al-Fakhar called for liquidating the assets of public companies and turning to the private sector in industry.
Al-Fakhar told Al-Sabah: “The global economy does not mean a government economy, but rather a private sector economy, and projects that are feasible must be approved.” He warned that “the survival of public companies means the survival of the oil economy, while we want to build a correct, productive economy, which means heading towards finding an alternative to oil,” warning that “with the presence of public companies we will not find an alternative to oil, and the solution is to return the assets of public companies to (State real estate) because it is not owned by those companies.” Al-Fakhar added, “The machines and the brand are sold, even if they are profitable, while the government takes care of solving the employees’ problem, because they cost the budget double their salaries.” He continued, "The assets of public companies must be liquidated and we must move to a market economy, where responsibility for the industry is transferred to the private sector," stressing that "this means encouraging competition by supporting the market, protecting the product, and following an export policy." He concluded by saying: "It is wrong for the state to interfere in major industries."
Edited by: Muhammad Al-Ansari
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