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[size=30]Director-General of the Ministry of Industry for “Iraq 24”: The merging of losing companies with profitable companies has turned them all into losers
2022-02-14
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Yes Iraq: Baghdad
The Director General of the Economic Department at the Ministry of Industry, Monem Al-Jubouri, revealed the consequences of the decision to merge the losing companies with the profitable ones, which led to the loss of even the previously profitable companies.
Al-Jubouri said, during his hosting of an account statement program shown by Iraq 24 TV, that "the merging of the losing companies with the profitable ones was aimed at improving the losers' businesses, but what happened is the opposite."
The Ministry of Industry had 76 companies, but they were merged with each other and their number became 33 companies, and all of them are losing at the present time and do not provide any financial return to the state except for the fertilizer company.
Al-Jubouri indicated that fertilizers are profitable because their products are constantly marketed to the Ministry of Agriculture.
Regarding the export of sulfur, al-Jubouri stated that what was exported of sulfur is sulfur resulting from oil extraction operations and was exported by the Ministry of Oil, and it is not the mineral sulfur found in mines, as the process of investing in minerals is suspended as a result of an old decision of the House of Representatives.
He explained that the strategic storage of sulfur we have amounts to 650 million tons, and that what is available to us of purified extracted sulfur is only 90,000 tons extracted before 2003 and we are working with it to produce alum and other products.
He stressed the company's need for 170 billion to launch the work of extracting and purifying sulfur.
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