The electricity dilemma is stifling Iraqi industry and exacerbating the losses of the local economy!

Posted on[You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.]

[size=52]The electricity dilemma is stifling Iraqi industry and exacerbating the losses of the local economy![/size]

[size=45]The industrial sector in Iraq has witnessed a noticeable decline as a result of the ongoing electricity crisis that is sweeping the country, as this crisis has caused great damage to production and factories.[/size]
[size=45]With the increasing power outages, many factories were forced to stop working or resort to expensive alternatives, which negatively affected economic performance and disrupted major industrial projects.[/size]
[size=45]“The electricity crisis in Iraq has greatly affected the industrial sector,” says economic expert Ali Abdul Amir, noting that “continuous power outages cause factories to stop working for long periods, which reduces productivity. Many factories depend on electricity primarily to operate machinery and equipment, so any outage negatively affects the workflow.”[/size]
[size=45]He added, “Due to the power outage, factories are forced to use private fuel-powered generators, which adds additional costs related to purchasing fuel and maintaining the generators.”[/size]
[size=45]He explains that, “When production stops, some factories may be forced to reduce workers or reduce working hours, which leads to job losses or reduced salaries, thus affecting the income of individuals and society in general.”[/size]
[size=45]Abdul Amir added, “Continuous interruptions may lead to a deterioration in the quality of products as a result of the disruption in the production process, which may harm the reputation of Iraqi products in local and international markets.”[/size]
[size=45]The economic expert continues, “Investors and factory owners find it difficult to adhere to project or order delivery dates, which may lead to losing contracts or delaying the implementation of investment plans.”[/size]
[size=45]Experts believe that “the continuation of the electricity crisis in Iraq hinders economic growth and limits opportunities to attract foreign investments, especially in the industrial sector, which depends to a large extent on energy stability.”[/size]
[size=45]For his part, the economic advisor and specialist, Basem Anton, confirmed that the industrial sector in Iraq cannot be revived without overcoming the electricity crisis, which was the main reason for shutting down more than 70% of public and private factories.[/size]
[size=45]Anton says, “Any process of reviving the industrial and agricultural sectors requires providing electrical energy to operate factories,” noting that “the decline of industry in Iraq is caused by the lack of electrical energy.”[/size]
[size=45]He added, “The electricity crisis over more than two decades has led to the exit of many government and private factories, which has led to their deterioration, disappearance and the obsolescence of production lines,” stressing that “the statistics conducted indicate the shutdown of more than 70% of local factories, whether affiliated with the public or private sector, which could have met the citizen’s need for goods and merchandise, and saved the state treasury billions of dollars over the previous years.”[/size]
[size=45]The total number of factories affiliated with public sector companies in Iraq is about 227, and the number of workers is only 140, according to data from the Ministry of Industry and Minerals.[/size]
[size=45]According to this data, about 18,167 industrial projects have stopped working for various reasons, and the industrial sector constituted about 23% of Iraq’s gross domestic product.[/size]
[size=45][You must be registered and logged in to see this link.]