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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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    Planning stresses need six thousand "laggard" project to pay on credit amid government assurances

    Rocky
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    • Post n°1

    Planning stresses need six thousand "laggard" project to pay on credit amid government assurances Empty Planning stresses need six thousand "laggard" project to pay on credit amid government assurances

    Post by Rocky Sun 10 Jan 2016, 4:42 am

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    Author: ASJ, HH 
    Editor: BK, HH 2016/01/10 12:46 
     
    Long-Presse / Baghdad
    , Confirmed the Iraqi Ministry of Planning, on Sunday that the application of the payment system on credit will include water, sewage, energy, oil and road projects, and pointed out that the loan ceiling under which "will not overtax" the Iraqi economy since the five does not exceed trillion dinars, and as promised it necessary to complete about six thousand project dilatory and save it from extinction, an economic advisor to the Prime Minister assured the objectors on the system, which is the need to overcome the current special stage.
    A spokesman for the Ministry of Planning Abdul-Zahra al-Hindawi, said in an interview to the (long-Presse), "The Ministry of Planning specified in the payment system process on credit for projects, sectors and not the ministries," noting that "projects that could be included payment system on credit are those relating to water, sewage and energy and oil, roads, being important and provide services to citizens and be supportive of the national economy. "
    He said al-Hindawi, that "Work payment on credit system will be in accordance with the specific mechanisms, and in coordination with the Ministry of Finance and others to make it a success," adding that "the conditions set for the system, not the interest rate of more than 6% of the loan is calculated on the basis of disbursements actually and not the total of the loan, and shall not exceed a period of two years to allow for, and begin paying premiums to an end after five years, any payment that starts from the third year, that the project owner shall pay the full premium for the loan until the completion of its implementation. "
    He explained a spokesman for the Ministry of Planning, that "the payment system on credit put forward by the previous government, but some fear it, for fear of the possibility of mortgaging the Iraqi economy will of foreign countries, which will be similar to monopoly oil previously", returned to that "perception is not true the fact that the situation in Iraq different because It is one of the places the laws and conditions. "
    He said al-Hindawi, that "the roof of loan amounts will not be too high so could jeopardize the Iraqi economy, as well as the expected implementation which sectors are limited and include service and productivity," pointing out that "the loan will not exceed five trillion dinars."
    The Fahdawi, that "the Iraqi government is trying to legislate investment and industrial relocation policy, since the companies that accept work postpaid system, will bring with them their equipment and mechanisms that will remain in Iraq and will not leave it, according to the agreement," stressing that "it is another positive point can reduce the fears of some of that system. "
    He said al-Hindawi, that "many of the companies expressed a wish to work this system but the overall current 2016 budget has not launched yet, and that the mechanism for deferred payment system guaranteed to article 26 of the law, which stipulates the need to work payment system on credit for new projects or novel," afterthought by saying that "the real problem is not new projects but Palmstmrh to the presence of six thousand projects in various sectors will not be able in part, the investment budget, to secure the necessary allocations, so it can take advantage of the payment system on credit to complete and to prevent its disappearance."
    For his part, called on Prime Minister for Economic Affairs Adviser to the appearance of Mohammed Saleh, to "not fear of payment on credit system because the projects identified under the law it will follow."
    Saleh said, in an interview to the (long-Presse), "The Ministry of Planning is on the basis of payment on credit system, as will cooperate with other ministries and agencies, under the mechanism serve the interests of Iraq," he returned that "there are no fears of payment projects on credit because they are identified by law and will follow ".
    Saleh stressed that "Iraq is going through an exceptional phase requires the use of payment on credit system as part of the fiscal deficit is included for the purpose of investment," noting that "the executive branch implements the provisions of the law and there is no fear of that."
    In turn, called the decision of the Finance Committee parliamentary meat Ahmed Rashid, the government need to "identify certain sectors for the implementation of projects payment on credit and do not let some of the exploited and apply it around the detriment of the state in the future."
    He explained Ahmed Hamma Rashid, in an interview to the (long-Presse), "The government went to implement projects on credit came after the loss of billions of dollars on reluctant or fake projects," he returned that "trend is inevitable the government to be able to implement their projects stalled."
    He called Rosetta, that the government "choose certain sectors to implement projects on credit, such as electricity, sewage, water and housing", describing those, sectors as "important and vital to the citizen."
    He said the decision the Parliamentary Finance Committee, that "the payment on credit system has met opposition and criticism from a group of members of the Committee for fear of burdening the state because of the benefits of it," pointing out that "the parliamentary Finance Committee decided to study the matter and give recommendations on."
    The Ministry of Finance had announced earlier in the year 2015, for the contract with Japanese companies for the implementation of infrastructure projects in Iraq concerning water, sewage and sanitation sectors in a way payment on credit repayment period of up to forty years.
    It is said that the Ministry of Construction and Housing, announced in (the 19th of April last 2015), agreed with foreign companies to carry out projects on credit payment system, indicating that it will be implemented after the approvals for which complete.


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