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Continued funding 4,500 projects in the country
8/18/2016 0:00
[rtl] Baghdad , Ahmed Abed Rabbo
revealed the Ministry of Planning announced thelaunch of the Central Bank of the first batch of dues contractors, as it seeks to finance four thousand and 500 ongoing project according to the percentage of completion achieved, confirmed not to include any new project in the budget next year because of the country 's financial crisis.
The official spokesman the ministry, Abdul Zahra al- Hindawi said in a statement to «morning»: the Council of Ministers had formed in April of this year, a committee headed by Minister of planning and the membership of the Iraqi Central Bank Governor and officials in the ministries of state, focused its mission on the structure of the distribution of benefits Contractors put .
he said the launch of the first batch of those payable receivables, according to thedecision of the cabinet, after he checked the ministry for the names of contractors menus, pointing out that the central bank , which assumed responsibility for paying dues through the issuance of treasury bonds is.
In terms of the distribution of those benefits mechanism explained Hindawi, the contractor who completed the project at rates above 80 percent, making him the full fiscal dues, that complete it undertakes as soon as possible, as will be the exchange rate of 40 percent for projects that do not exceed the rates of completion of 80 percent, on the disposal of the remaining entitlements after the completion of the project fully.
on the ongoing projects, it disclosed the efforts of the ministry in cooperation with therelevant ministries and local governments to find appropriate solutions to four thousand and 500 ongoing project financing over the next year, pointing out that the proposals laid down for it, namely: style financing on credit, or the presentation of projects asinvestment opportunities for companies wishing, as well as the involvement of the private sector in funding.
the ministry had been omitted in the earlier 296 projects at a cost of 10 trillion and 652 billion dinars, describing those projects that it is not a priority at the current stage, while delayed at the same time in 2169 a project was It costs 36 trillion and 720 billion dinars.
and on the project financing sources, the official spokesman for the planning said that the ministry will finance part of the projects of the investment side allocations in thebudget next year, especially projects that have reached an advanced completion rates, with an emphasis on the completion of these projects in as soon as possible, reminding that the ministry will take into consideration, service projects that affect the lives ofcitizens , such as projects: water, sewage, roads, bridges , electric power and infrastructure.
With regard to the preparations under way for the preparation of next year 's budget, thedetection of the start of the ministry in the early to prepare the investment side in thebudget in 2017, but the financial crisis experienced by the country, make them try as much as possible retrenchment and not enter into new financial commitments in order toreduce the burden on the state treasury, pointing out that the draft budget next year, Saakhlu of any new projects.
it is said that the country suffers of a major financial crisis because of the decline inglobal oil prices, while most ministries announced the shut down of new projects due tolack of financial allocations have within the investment budget, at a time when the Ministry of Finance demanded both: the secretariat of Baghdad, electricity and other services and ministries, to activate the collection to finance business.[/rtl]
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