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[size=36]Saleh: 72% of state companies are losing money, and 400,000 workers receive salaries without working[/size]
Economie| 09:14 - 04/17/2021
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Baghdad - Mawazine News
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Saturday, that out of the 173 public or state-owned companies, only 28% work and make a profit, and the rest 72% are losing companies, pointing to the presence of nearly 400 thousand workers in those companies They receive monthly grants in the form of salaries without performing productive work.
Saleh said that "since 2003, the production activity of the government sector has been subjected to stoppage and neglect. Among the 173 public or state-owned companies, none of them are actually working at the present time and only 28% are profitable, while the remaining 72% are losers," he revealed. Noting that "more than 20% of those companies were removed from existence due to the war operations that took place in the second Gulf War and led to the demise of the former regime."
He pointed out that "the profitable public companies are those that are linked to the rentier activity of the oil sector and that enjoy quasi-monopolistic advantages in obtaining raw materials and marketing the product and prices, which make them profitable and they are profitable operations surrounded by a lot of support," noting that "there are about 400 thousand workers who receive grants." Monthly in the form of salaries without performing productive work for eighteen years.
He stressed, "The fault is not the fault of these workers and employees, but the reason is due to the negligence and negligence in the economic policy based on oil and neglect of any other resource."
Saleh pointed out that "technical expertise has diminished due to the lack of accumulation of human capital, on-the-job learning, technology transfer, or the renewal of production lines that have become technically obsolete."
He added that "the Ministry of Finance made an attempt to support the operation of these companies and their factories by providing them with operating capital (after it guaranteed them with government bank loans), but unfortunately nothing was achieved on the ground and the money went in vain," explaining that "these loans are estimated with the loss of interest by about 16." Trillion dinars. "
And that "those loans and funds were unable to move the wheels of production, raise productivity and maximize production efficiency, especially in industrial companies that exceed 80% of state-owned companies."
And he added that "these loans remained, because of their sovereign guarantee by the Iraqi government, an integral part of the current government debt and are calculated with it until the moment."
The financial advisor to the prime minister explained, "Based on the white paper adopted by the government of the Republic of Iraq in the year 2020 as an economic reform approach, those losing state-owned companies that are suspended or lagging behind should be transformed into profitable and productive companies, in order to increase the diversity of the gross domestic product." To Iraq and reduce the heavy losses incurred by the national economy, in addition to raising its financial burdens and transferring them to maximize the diversity of non-oil revenues in the sources of the federal budget. "Ended 29 / A 43
, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Saturday, that out of the 173 public or state-owned companies, only 28% work and make a profit, and the rest 72% are losing companies, pointing to the presence of nearly 400 thousand workers in those companies They receive monthly grants in the form of salaries without performing productive work.
Saleh said that "since 2003, the production activity of the government sector has been subjected to stoppage and neglect. Among the 173 public or state-owned companies, none of them are actually working at the present time and only 28% are profitable, while the remaining 72% are losers," he revealed. Noting that "more than 20% of those companies were removed from existence due to the war operations that took place in the second Gulf War and led to the demise of the former regime."
He pointed out that "the profitable public companies are those that are linked to the rentier activity of the oil sector and that enjoy quasi-monopolistic advantages in obtaining raw materials and marketing the product and prices, which make them profitable and they are profitable operations surrounded by a lot of support," noting that "there are about 400 thousand workers who receive grants." Monthly in the form of salaries without performing productive work for eighteen years.
He stressed, "The fault is not the fault of these workers and employees, but the reason is due to the negligence and negligence in the economic policy based on oil and neglect of any other resource."
Saleh pointed out that "technical expertise has diminished due to the lack of accumulation of human capital, on-the-job learning, technology transfer, or the renewal of production lines that have become technically obsolete."
He added that "the Ministry of Finance made an attempt to support the operation of these companies and their factories by providing them with operating capital (after it guaranteed them with government bank loans), but unfortunately nothing was achieved on the ground and the money went in vain," explaining that "these loans are estimated with the loss of interest by about 16." Trillion dinars. "
And that "those loans and funds were unable to move the wheels of production, raise productivity and maximize production efficiency, especially in industrial companies that exceed 80% of state-owned companies."
And he added that "these loans remained, because of their sovereign guarantee by the Iraqi government, an integral part of the current government debt and are calculated with it until the moment."
The financial advisor to the prime minister explained, "Based on the white paper adopted by the government of the Republic of Iraq in the year 2020 as an economic reform approach, those losing state-owned companies that are suspended or lagging behind should be transformed into profitable and productive companies, in order to increase the diversity of the gross domestic product." To Iraq and reduce the heavy losses incurred by the national economy, in addition to raising its financial burdens and transferring them to maximize the diversity of non-oil revenues in the sources of the federal budget. "Ended 29 / A 43
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