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The Office of Financial Supervision reveals the most important reasons for the greatest waste of public funds
09:47 - 15/11/2018
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Information / Baghdad ..
The Office of Financial Supervision, Thursday, that the percentage of the largest waste of public money during the federal budgets were allocations of investment budget projects, indicating that the most important causes of waste occur because of the launch of the operational predecessor of the contractor by 10 percent of the value of the project.
The head of the chamber, Salah Nuri Khalaf said in a statement published by the newspaper "Sabah" official and briefed him / information, "The SAI monitored and through the audit of the final accounts from 2005 to 2013, the proportion of the largest waste of public money, was allocations of investment budget projects, The current budget has a limited defect, indicating that "the imbalance lies in the investment budget projects that equipped contractors and investors with advances and did not complete the project in addition to the letters of guarantee phantom. "
Khalaf added that "the most important causes of waste occur because of the launch of the operating predecessor of the contractor by 10 percent of the value of the project before it must be implemented, and this includes the assignments of processing and implementation of projects, encouraging the assignee project to escape or delay in implementation without any commitment," noting that " All the outstanding advances and doubtful until the year 2016 were amounts and reached the limits of 113 trillion dinars for advances of all kinds.
He called the Department of Instructions for the implementation of contracts in the Ministry of Planning "cancel the subject of granting an operational advance when the conclusion of the contract because it constitutes the proportion of the largest waste of public money," noting that "the Board completed audits of previous budgets from 2005 to 2014, but the latest budget for 2014 Because of the Ministry of Finance, which submitted to the audit and withdrew three times, delayed announcement of the final account for them.
He stressed that "the Ministry of Finance to publish the volume of loans and projects of their own because they are debts for the current and future generation." Ending / 25
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