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Specialists: Public companies are useless and their privatization is a necessity
Economical 2023/07/03
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Hussein Thaghb Al-Tamimi
Experts in economic affairs believe that the current reality of public industrial companies does not achieve any benefit for the national economy, but rather burdens the federal general budget, urging a serious approach towards privatization.
Director General of the Economic Department at the Ministry of Industry and Minerals d. Ikram Abdel Aziz told "Al-Sabah": "The ministry has directions to address the reality of companies and is heading towards activating national production, as we are well aware that industrial production represents an important axis in the sustainable development that the country seeks, which requires us to work towards developing solutions for the decline in the performance of companies." Ministry".
She pointed out, "The presence of many of the Ministry's companies supplying the local markets with their qualitative production, which finds clear acceptance within the local market, especially since some local industries left a positive echo in the hearts of the Iraqi family, and from here we can restore confidence between the Ministry's products and the citizen who determines the levels of demand." .
She indicated, "There are successful experiences in the ministry, including the cement industry, where it was able to raise production capacities to important levels, and this experience can be benefited from in other joints of the ministry, to develop production capacities."
In turn, the economist d. Saif Al-Hilfi stressed on "the inevitability of privatizing public sector companies on a large scale, provided that there are specialized international investment companies on this important line, especially since many international companies have changed their view of the Iraqi market after the announcement of the development path and the flexibility it provides in accessing the global market." within short periods of time."
He pointed out that "the presence of companies of this number with limited production capacities works to exhaust the government budget and does not achieve economic feasibility, and that the government's operational budget is more than the investment budget, and this is a reality that limits progress in the Iraqi economy, especially since the country needs comprehensive infrastructure and quality services." Hence the need for large investments that come with capital to finance the giant projects that we aspire to implement.”
Economic affairs specialist d. Bashir Muhammad Ahmed said: "There is a need to study the files of public companies together, to choose mechanisms to activate production, address challenges and find solutions for the numbers of employees who exceed the actual need," pointing out that "investment companies come with new production steps that promote local production and spare the country the tendency to cover demand." from the international or regional markets.
He stressed that "importing industrial products that do not carry qualitative specifications has caused the national economy major financial losses because it is not commensurate with its shelf life, and has made the reality of local production live in a state of clear confusion due to the inability to compete and continue production."
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