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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    After Al-Sudani’s statement... What is the importance of moving towards “privatizing” government com

    Rocky
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    After Al-Sudani’s statement... What is the importance of moving towards “privatizing” government com Empty After Al-Sudani’s statement... What is the importance of moving towards “privatizing” government com

    Post by Rocky Fri 13 Sep 2024, 4:17 am

    After Al-Sudani’s statement... What is the importance of moving towards “privatizing” government companies?

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    Baghdad Today - Baghdad
    Economic expert, Nawar Al-Saadi, commented today, Thursday, September 12, 2024, on the importance of moving towards “privatizing” government companies.
    Al-Saadi told Baghdad Today, “Regarding Prime Minister Mohammed Shia al-Sudani’s statement about the lack of a trend towards privatizing government companies, I believe that it is very important to think about privatization in carefully studied stages, with a strict legal framework that guarantees the protection of workers’ rights,” indicating that “gradual privatization allows for a smooth transition from government administration to the private sector without causing major social or economic unrest, and allows sufficient time to develop and implement effective social protection policies.”
    He explained that "loss-making government companies constitute a huge burden on the Iraqi economy, as they consume the state's resources by covering operating expenses without achieving any significant returns."
    Al-Saadi pointed out that “gradual privatization can be an effective means of improving the efficiency of these companies, attracting investments, and achieving the technological and administrative development necessary to increase their productivity, but it is necessary for this privatization to be accompanied by policies that ensure that workers are not randomly laid off or cause social problems as a result of job loss.”
    “We can start privatizing the less socially sensitive sectors, while preparing rehabilitation and training programs for current employees to ensure that they move to new jobs or improve their skills in line with the needs of the private sector. Laws related to privatization should also guarantee fair employment contracts and appropriate compensation, in addition to establishing a social fund to support workers who may be affected by the move,” he added.
    The economic expert concluded by saying, “Privatization can be an effective solution to reduce the financial burdens on the state, but implementing it gradually and thoughtfully, taking into account the social aspects and protecting the rights of workers, is the best way to achieve economic reforms without harming the weakest groups.”
    Prime Minister Mohammed Shia Al-Sudani stressed today, Thursday, during his sponsorship of the signing ceremony of 3 partnership contracts for industrial projects with the private sector, that "the government has no intention of privatizing government companies, but rather achieving partnership with the private sector in a productive manner, and in order to achieve added value, which is the real reform, in addition to supporting the private sector."
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