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Planning: Blacklisting around 300 defaulting companies
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Added 2024/08/15 - 10:52 AM
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The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, confirmed on Thursday that the ministry has blacklisted a group of companies, about 300 companies.
Al-Hindawi said in a televised interview followed by "Al-Eqtisad News", that the listing process is according to standards and mechanisms set by the Ministry of Planning, including the company's failure to fulfill its obligations with the beneficiary. After proving its procrastination, it is included in the blacklist and a list of the companies' names is circulated to all state institutions so that contracts or work with them are not concluded. He indicated that the period of listing the company on the blacklist lasts for two years, after which the company is re-evaluated.
He added that the ministry has set controls and standards for listing industrial investors on the blacklist, and this is a procedure that is being activated for the first time due to the large industrial movement that the country is witnessing, and we need controls to regulate the work of investors.
Al-Hindawi pointed out that there is a committee within the ministry called the Contractors Classification Committee headed by the Director General of the Legal Department in the ministry, and its membership includes representatives from the Ministry of Industry and Minerals, the Ministry of Commerce, and representatives of the private sector.
Al-Hindawi said in a televised interview followed by "Al-Eqtisad News", that the listing process is according to standards and mechanisms set by the Ministry of Planning, including the company's failure to fulfill its obligations with the beneficiary. After proving its procrastination, it is included in the blacklist and a list of the companies' names is circulated to all state institutions so that contracts or work with them are not concluded. He indicated that the period of listing the company on the blacklist lasts for two years, after which the company is re-evaluated.
He added that the ministry has set controls and standards for listing industrial investors on the blacklist, and this is a procedure that is being activated for the first time due to the large industrial movement that the country is witnessing, and we need controls to regulate the work of investors.
Al-Hindawi pointed out that there is a committee within the ministry called the Contractors Classification Committee headed by the Director General of the Legal Department in the ministry, and its membership includes representatives from the Ministry of Industry and Minerals, the Ministry of Commerce, and representatives of the private sector.
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