Planning: Approximately one trillion and 300 billion dinars will be paid as contractors' entitlement

Planning: Approximately one trillion and 300 billion dinars will be paid as contractors' entitlements

economy  From 2017-03-20 at 12:27 (Baghdad time)

Baghdad Mawazine News
The Ministry of Planning announced on Monday the completion and audit of about trillion and 300 billion dinars will be launched as receivables to contractors, stressing that this amount will have a clear impact in moving the market and rotate the wheel of the economy by a year.
"The Minister of Planning Salman Jumaili discussed with the Chairman of the parliamentary investment committee MP Jawad al-Bolani and a delegation of businessmen headed by the President of the Iraqi Contractors Union Ali Sanafi, the mechanisms to facilitate payment procedures for contractors owed by the government for their The implementation of investment projects during the last two years have not been reimbursed because of the financial crisis faced by Iraq because of the decline in oil prices. "
The Jumaili, according to the statement, "The government's endeavor to pay the receivables of contractors by government bonds Almmsila issued by the Central Bank of Iraq, after conducting financial audits by the Office of Financial Supervision."
He added that "the percentage of reimbursement for projects that exceeded completion rates (85%) will be 100% provided the contractor undertakes to complete the project in full while will be paid 40% of the receivables of projects with a completion rate of 85%," revealing "completion To check about trillion and 300 billion dinars will be launched for the beneficiaries and will have a significant impact in moving the market and rotate the wheel of arsenals by about a year. "
He pointed out that "the Committee on Economic Affairs Ministerial has taken a number of important decisions and measures in support of the private sector and protect the national product," noting that "the Committee has developed a plan of action depends on hosting the concerned parties to know the reality of each case and thus facilitate the task of making the necessary decision or recommendation "He said.
The minister stressed that "the Iraqi construction sector is a fundamental pillar in the process of development, which requires giving the sector the attention required to be effective in expanding the investment process in the country," pointing out that "the ministry has taken a number of measures that will support the work of contractors, including To facilitate the classification procedures for contractors and contractors and grant them the required classification within a short period of time, while it took several months in previous stages.
He called on the contractors to "submit their ideas and proposals that will develop the reality of the work of the ministry in relation to the work of the construction sector."
For his part, the head of the parliamentary investment committee MP Jawad al-Bolani, "the need to expedite the resolution of the issue of receivables of Iraqi contractors, because this will contribute to the revitalization of the development movement after the huge recession experienced by the Iraqi economy because of the financial crisis."
He explained that "the parliamentary investment committee is ready to adopt and support the steps taken by the Ministry of Planning or the ministerial economic affairs committee or any other party aimed at supporting the construction sector and provide an environment suitable for the work of contractors."
He called on the government agencies to "increase working hours in the departments and institutions involved in the file receivables of contractors, whether they are in the Ministry of Finance or the Office of Financial Supervision or the Central Bank in order to expedite the issue of receivables, which took a long time, which reflected negatively on the reality of investment in the country" .
The statement said that "the President of the Iraqi Contractors Union Ali Sanafi reviewed a range of issues related to the construction sector, including the procedures to obtain the identity of the classification granted by the Ministry of Planning and find solutions and treatments for projects suspended due to the financial crisis and address the issue of fines resulting from them as well as mechanisms to withdraw work in those projects "Ending 29 / a 43

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