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[size=36]Sudanese Consultant: The Workers' Insurance Law constitutes a turning point towards regulating the market[/size]
political| 08:55 - 05/27/2023
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Baghdad - Mawazine News
Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that 60 percent of the market in Iraq is still unknown, while noting that the Social Security and Retirement Law constitutes a turning point towards regulating the market.
Saleh said, "There are production systems that are not based on the institutional character of markets, and therefore there are objections to the Workers' Social Security Law, launched by non-institutional production concerns, that is, those that do not originally belong or are regulated by Companies Law No. 21 of 1997 as amended."
He added, "60% of the market is still gray and undefined in front of government regulations that deal with the market sector, whether oversight, taxes, or banks," stressing, "The new social security law will oblige it to turn into white legal markets, which constitutes the turning point towards Market regulation that will encounter a pattern of stubbornness and resistance to change.
He called on the Ministry of Labor and Social Affairs to "start a media and educational campaign to educate the market, producers and workers in it, while issuing instructions to implement the law in an easy, clear and encouraging manner."
On Wednesday (May 17, 2023), the House of Representatives voted on a draft social security and retirement law for workers.
Saleh said, "There are production systems that are not based on the institutional character of markets, and therefore there are objections to the Workers' Social Security Law, launched by non-institutional production concerns, that is, those that do not originally belong or are regulated by Companies Law No. 21 of 1997 as amended."
He added, "60% of the market is still gray and undefined in front of government regulations that deal with the market sector, whether oversight, taxes, or banks," stressing, "The new social security law will oblige it to turn into white legal markets, which constitutes the turning point towards Market regulation that will encounter a pattern of stubbornness and resistance to change.
He called on the Ministry of Labor and Social Affairs to "start a media and educational campaign to educate the market, producers and workers in it, while issuing instructions to implement the law in an easy, clear and encouraging manner."
On Wednesday (May 17, 2023), the House of Representatives voted on a draft social security and retirement law for workers.
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