Abdul-Mahdi suspends investment contract worth 5.4 billion dinars

BAGHDAD - 
Interior Ministry Inspector-General Jamal al-Asadi announced on Wednesday the approval of the Prime Minister and Interior Minister Adel Abdul-Mahdi on the suspension of an investment contract concluded by the Police Martyrs' Fund in 2018 with a company to implement a project to liquidate and mobilize water in the manner of investment because of irregularities And administrative and financial, indicating that the value of the contract is more than 5.4 billion dinars. 
Al-Asadi said in a statement received that the arrest warrant came against the backdrop of the establishment of an audit committee set up by the Inspector General of the Ministry of Interior, Mr. Jamal Al-Asadi, to follow up the Ministry's contracts. The Audit Committee discovered that there were legal, administrative and financial violations in the contract concluded by the Police Martyrs' With a newly established company to construct a project for the liquidation and mobilization of water in a manner of investment and for a period of 20 years renewable.
He added that "Among the observations recorded by the Office of the Inspector-General of the investment contract, which was the reason for the suspension and cancellation of the contract, is that the contract was signed and ratified in the form of investment, although the company or its owner is not holders or have an investment license, The company is newly established and does not progress to complete such large projects and its competence in the general trade and commercial agencies, not in such projects, and that the mechanism of selecting the company alone was not subject to the standards of competition and fair transparency, despite From N The project is not a monopoly project specialized company without other, as well as the martyrs of the police fund has no authority to compel the joints of the ministry to purchase the plant products exclusively. "
"The Audit Committee of the Office of the Inspector-General increased its observations, noting that the company will achieve a very large profit margin of 75% net profit while the martyrs of the Police Martyrs Fund 25%, the contract for a period of 20 years renewable The contract of the ministry's joints to purchase water from the project of the plant to be established in accordance with this contract, which was prepared by the Office of the Inspector General waste and waste of public funds and waste of the wealth and potential of the ministry. 
Al-Asadi confirmed that "the Prime Minister and the Minister of the Interior Agency approved the opinion of the Inspector General of the Ministry of Interior to suspend the investment contract, amounting to 5 billion and 430 million dinars, based on observations recorded by the Inspector-General of the project." Ending / 25