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Prime Minister's Advisor: Measures to Maximize the Productivity of Losing Companies
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Economy News - Baghdad
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Added 2024/07/15 - 11:41 AM
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Economy News - Baghdad
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Monday, that converting suspended and losing public companies into joint-stock companies will achieve a qualitative shift in government production activity.
Saleh said, in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the government approved the principle of activating the provisions of Article 35 of the Public Companies Law No. 22 of 1997, as amended, by converting suspended or losing public companies into what are called public joint-stock companies and allowing the private sector and workers to own shares under the auspices of the public sector."
He added, "This is within the framework of the principle of partnership between the state and the private sector, raising the efficiency of loss-making public government companies, and restructuring their activities to transform them into profitable companies with products that suit market needs, whether by producing production supplies to maximize value chains or final consumer products."
Saleh continued, "The new approach to maximizing the productivity and profitability of loss-making public companies will achieve a qualitative shift in government production activity, with a vision and joint work paths with the private sector, its initiatives and its pioneering power," explaining that "this will require investment in advanced production lines according to highly advanced technology that is compatible with the requirements of growth in local demand and the national market in general."
Views 39
Added 2024/07/15 - 11:41 AM
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