A parliamentary proposal to enact a law granting financial loans amounting to 100 million dinars to the unemployed
The Parliamentary Committee on Economy and Investment revealed a parliamentary proposal to legislate a law that would grant loans of up to 100 million dinars to the unemployed in order to absorb unemployment and support the private sector.
A member of the parliamentary economy committee, Nada Shaker, said that the parliamentary economy committee has a proposed law that provides soft [You must be registered and logged in to see this link.] for the unemployed between 50 million to 100 million dinars, indicating that the proposal requires the cooperation of a group of unemployed at least 30 people committed by an investor to establish a small company Or medium, provided that the project becomes the property of such individuals.
Shaker said that this project will ensure the absorption of unemployment and the operation of a large number of unemployed as well as it is a project supporting the private sector, stressing that the proposal is under discussion within the Economic Committee and in coordination with the Legal Committee and will be submitted to the Presidency of [You must be registered and logged in to see this link.] after the completion of the preparation.
She explained: This project will serve the Iraqi economy and generate large amounts of money to the country, unlike loans granted for the purchase of cars and others, which are commercial loans and non-productive.
In turn, economic expert Abdul Hassan al-Shammari, the policy of loans pursued by the state as "useless" for the Iraqi economy, but it encourages corruption and the spread of unemployment in the country.
Al-Shammari said that most of the loans granted to the unemployed were placed without economic benefit, but for the purposes of realizing the profits and benefits of them, indicating that the state lacks a sound economic plan, whether annual or five years, which led to a confusion in economic policy,
He pointed out that the initiative of the Central Bank to grant loans to the unemployed, which was launched during the past three years failed and did not achieve its goal, which led to a halt and confined to the housing sector, stressing that the parliamentary proposal to grant [You must be registered and logged in to see this link.]High financial for the unemployed will not work because there are loans granted by the Ministry of Labor ranging from 7 million to 12 million without the existence of anything tangible on the ground by the provision of these loans.
He said the economic expert that Iraq needs an economic plan based on the basis of the correct through which the employment of productive sectors and absorb unemployment. Rafidain Bank announced earlier, its intention to grant [You must be registered and logged in to see this link.] up to 75 million dinars for employees and retirees to buy housing units. In Iraq, it consistently announces that it is granting loans to citizens under specific conditions and profits, which experts and deputies consider to be very high and not in the interest of the poor and middle income groups.
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