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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Contractors debt crisis reaching repercussions to the local market and private banks

rocky
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Contractors debt crisis reaching repercussions to the local market and private banks Empty Contractors debt crisis reaching repercussions to the local market and private banks

Post by rocky Tue 31 Jan 2017, 1:41 am

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Contractors debt crisis reaching repercussions to the local market and private banks


 Baghdad / term 

The Iraqi government has promised to launch dues Contractors during the coming period after the completion of scrutiny after the discovery of thousands of construction phantom. 

In the meantime , experts stressed that the delay in the payment of contractors greatly affected the local economy, and led to the reluctance of the work of some banks and increasing slack in the market. 
The deputy prime contractors Basra province Union Hamoud Al - Hamad stressed that the contractors dues to the government amounting to 7 trillion dinars. 
He said the appearance of Mohammed Saleh, financial advisor to the prime minister that "Abadi excited and eager to exchange all dues contractors, and that the Iraqi state is able to fulfill all its internal and external obligations." 
Saleh added, in a post by on their profile on Facebook, "personally among those who have proposed the payment of those dues by bonds to equity holders of rights , " noting that "regulators discovered thousands Contracting Phantom and the space , which made it necessary to postpone payment of dues of necessity." 
He pointed out that " the rights of Contractors will pay more bonds soon after the end of the audit." 
The Central Bank of Iraq, decided last August to start firing dues Contractors bonds in accordance with the Cabinet decision , and 50% of the total dues first batch, according to the percentage of completion and audited by the Office of Financial Supervision in coordination with the Ministry of Planning , which holds the formation of a committee of experts to identify priority strategic projects to the need of the state, but the Ministry of Finance has asked the central bank to wait to pay dues Contractors. 
On the other hand, Imad Majed grace, Prime contractors Maysan gathering said, for (long - Presse) that "Contractors are tired of false promises launched by the federal government and procrastination , regardless of their entitlements , " adding that "it forced him to declare a hunger strike in front of Missan governorate building, the center of the city of Amarah (390 km south of Baghdad) to send a clear message to the Prime Minister that death or respond to the rights of contractors and the declaration of a real date for the launch of their dues. " 
Grace and added that " the sums for the projects we have made over the past years, a loan Bzmtna banks that asks us for payment during the period concerned , " noting that "most of the contractors have been forced to sell their possessions and even furniture homes and Costume their wives to repay their debts without the government lifting a finger towards them "He stressed the contractor Almisana that" the government is obliged to find a serious solution to the problem of contractors and not to ignore their rights , "adding that" contractors knocked on all the doors in vain that forces them to peaceful protest and civil disobedience and hunger strikes. " 
For his part , said Jawad al- Rahim al - Saadi, deputy chairman of the province of Maysan, for (long - Presse) " The Council has directed a new call for the prime minister, Haidar al - Abbadi, the need to instruct the Ministry of Finance , regardless of financial dues to the province for the years 2015 and 2016 as suffering from a difficult situation and the worsening of the poverty level, especially after the layoffs of hundreds of contract employees and daily wage, as well as service projects stopped. " 
Saadi said that " the government did not pay dues majority of contractors and companies for projects completed during the past years , " calling on the government to the need to "pay those dues." 
This was reflected in the Iraqi government delayed the payment of dues Contractors negative impact on the local economy, as it lagged a number of banks in the payment of deposits of its customers, in addition to contributing to the increase in the recession that hit the market. 
In turn, Walid Idi, Advisor to the Governor of the Central Bank, "long" that " the problems that hit the banking system , part of which non - payment of dues to the state contractors who borrowed from the banking system and delayed the repayment , " he says.
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