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Economic expert, Abdul Hussein Hanin, confirmed that the assets of the Iraqi Airways Company amount to more than one billion dollars.
Henin told Al-Eqtisad News that the renewal of the European ban on Iraqi aviation has many reasons, but we need several measures to solve this problem, including completely separating the Iraqi Airways Company from the Ministry of Transport and transforming it into a company subject to market standards of profit and loss, and it includes dimensions Its unqualified party cadres, and appoint an executive director through a global declaration.
He added that the company needs to amend its law, especially its ridiculous capital fixed in the current law (500 million Iraqi dinars), while it owns assets worth more than two billion US dollars.
He called for financing the company's development through public subscription after calculating the company's current assets and considering it a financial volume equal to 49% of its targeted capital, so that 51% is subscribed to liberate it from the grip of the state, slackness and corruption.
He stressed the need to offer a global investment opportunity to establish lounges with international operating standards at Baghdad and Basra airports as a first stage, and there are international investing companies pleading with Iraq to do so.
Henin concluded by saying that these points mentioned above do not charge the budget a single penny, but rather are revolutionary administrative decisions.
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