Planning: We have formed a committee to transform loss-making companies into profitable

[ltr]Planning: We have formed a committee to transform loss-making companies into profitable[/ltr]

 Since 03/13/2016 11:59 pm (Baghdad time)
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[ltr]Special - balances News[/ltr]
[ltr]It revealed the Ministry of Planning, on Sunday, for the formation of a committee to transform government and private money-losing companies to trump maker domestic product.[/ltr]
[ltr]He said ministry spokesman Abdul Zahra al-Hindawi's / balances News /, that "in light of the economic conditions experienced by Iraq and the presence of a large deficit in the state budget, making the budget is able to meet the investment side demands," noting that "the operational side accounted for the bulk of the budget because it requires secure salaries and supplies the fight against terrorism. "[/ltr]
[ltr]He added, "The ministry bound to find sources of financing for investment projects, either through raised investment opportunities or through its funding manner of payment on credit by businesses and investors or postpone part of them and delete the other," he said. "A lot of the Ministry of Industry and Housing and Construction and other ministries companies , some of which are winners and others losers and the last will be a partnership between the projects and the private sector to maximize revenue and converted from losing companies to profitable companies. "[/ltr]
[ltr]He continued, "The partnership between the public and private sector aims to provide services to citizens and to maximize the revenue for these companies," revealing "the existence of the plan and the formation of a committee headed by Planning Minister Salman Jumaili and a number of ministries concerned. The committee called the" Committee of Article 15 "in the budget, attributing the cause that the substance indicated openness to the private sector and work to create partnerships with the private sector to activate the level of service and support for loss-making companies. "[/ltr]
[ltr]He pointed out that "there are no idea to lay off workers, private companies as the partnership with the last sector and the private sector will turn these companies into profitable and rather than take the funding from the government would be similar to corporate self-financing, which reduces the burden on the budget attributing the cause to the state today pay these salaries employees ".[/ltr]
[ltr]The Minister of Planning and while participating Iraqi financial forum in Beirut pointed to the pursuit of transforming state-owned enterprises into successful projects. is over[/ltr]


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