Planning» rely payment on credit for the implementation of vital projects

Planning» rely payment on credit for the implementation of vital projects

March 7th, 2016

New Baghdad morning:

The Ministry of Planning for the new regulations and mechanisms for the implementation of investment projects in a manner postpaid, to be adopted within the current year 's budget.

A spokesman for the Ministry of Planning and Development Cooperation, Abdul Zahra al - Hindawi, that «System postpaid put forward by the previous government, but some fear it , for fear of the possibility of mortgaging the Iraqi economy to the will of foreign countries », returned this assumption is incorrect because Iraq is a different situation being is the one who puts the laws and conditions.

he pointed out that« cap loan amounts will not be too high to the extent that could jeopardize the Iraqi economy, »as well as the expected implementation of the sectors are limited and include the service sectors and productive ones, explaining that the loans will not exceed five trillion dinars ($ 4 billion).

He stressed that the government is seeking to legislation , investment and industrial relocation policy, since the companies that accept work postpaid system will bring with them their equipment and mechanisms that will remain in Iraq and will not leave it in accordance with the agreement, stressing that it is a positive point can reduce the fears of some of the system.

He revealed Hindawi for many of the companies expressed desire to work this system, but the budget It has not launched yet, and that the mechanism for deferred payment system guaranteed in Article 26 of the law need to work in new projects or developed, adding that the real problem lies not in the projects but also in those that continue to be implemented, pointing to the presence of six thousand projects in various sectors the budget will not be able in part , the investment to secure the necessary financial allocations, so it can take advantage of the payment on credit to complete the system and prevent its disappearance. it is

noteworthy that many of the investment projects were stopped during the past year, due to the large budget deficit due to lower global oil prices.

he added Hindawi that 296 projects were canceled and in 2169 was postponed due to the current financial crisis, referring to the transfer of funds allocated to them to continuing to complete the completed projects, stressing that these amounts will not be enough to complete the rest of the project.

She drew economic circles to guide the government to implement projects deferred payment system after the loss of billions dollars on fake projects, arguing that this trend is inevitable the government to be able to implement their projects stalled. The government demanded that choose certain sectors to implement projects such as electricity, sewage, water and housing. The Ministry of Finance announced earlier last year, contract with Japanese companies for the implementation of infrastructure projects in Iraq belong to the water and sanitation sectors in a way postpaid up for the payment of their cost to 40 years.

The Ministry of Construction and Housing in April, its agreement with foreign companies to implement projects postpaid system, pointing out that the implementation will be after approvals completed will, also confirmed the Ministry of Industry and minerals full support for the success of the petrochemical complex project to be working in it in Basra province at a cost of $ 11 billion.

and see the circles concerned that the application of Article 15 of the draft budget law for the current year , it might open the door for the first time in front of the private sector through partnership with the public sector, and thus will contribute effectively in stimulating productivity movement. Article 15 of the draft budget bill on the expansion of open investment and partnership between the ministries and the private sector the door. On

the other hand, announced the Ministry of Planning, on Monday, that 20 million people make a living on the government, pointing out that the average per capita income in Iraq arrived six thousand dollars per year.

Hindawi said in a press interview, said that « the number of employees amounted to four million and 500 thousand people, and when you calculate that a person whom may support his five individuals within the family, which means that 20 million people make a living on the government».

he added that « the average salary for the employee ranges between 300-750 thousand dinars per month ».

He went Hindawi to say, that« the average per capita currently entered Iraq arrived six thousand dollars per year, or about 7 million dinars », indicating, in an interview for« Alsumaria News » that «it is due to the division of GDP by the population».

in another matter, Strtt the Ministry of planning, yesterday, the goldsmith get clearance from taxes for practicing the profession, noting that it came in coordination with the tax authority.

Hindawi said, that « the ministry issued a requirement on the jeweler should be receiving a patent disclosure of tax return for granting vacation practicing drafting ».