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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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Economic Council will hold a seminar on the reimbursement of companies "expanded"

rocky
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Economic Council will hold a seminar on the reimbursement of companies "expanded" Empty Economic Council will hold a seminar on the reimbursement of companies "expanded"

Post by rocky Mon 30 May 2016, 6:13 am

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2016/05/30 | 12:20


(Encyclopedia of the Day News | [You must be registered and logged in to see this link.] ) - Economy

Since 30/05/2016 12:06 am (Baghdad time)


Baghdad balances News

Discuss Iraqi Economic Council, the implications of government delays in the reimbursement of private sector partnerships, noting that the payment of those benefits will be through government bonds.

The council said in a statement received / balances News / copy of it, he was "a panel discussion of the Council was held under the title (the private sector dues exchange mechanism through government bonds)."

The statement added that "the symposium hosted in each of the Governor of the Central Bank of Iraq on the Keywords esteemed member of the parliamentary finance committee Haitham al-Jubouri and Deputy Minister of Planning and Qasim care, and a number of members of the House of Representatives and a number of government agencies and a large number of private-sector officials."

He continued, "The general manager of government contracts department in the Ministry of Planning and flowers spring and head of the Iraqi Economic Council, Ibrahim al-Baghdadi and adviser to the Office of President of the Republic cult and MP Furat al-Tamimi Chairman of the Committee on Agriculture and the marshes and water, and Hassan al-Tamimi Head of farm associations, and President of the Economic assembly peasant commune and member of the Board of Directors Economic Council of the Iraqi financial and Secretary-Karim al-Yassiri, a member of the Iraqi Council of Economic Council, the Department of administrative Secretary Raed Rahmani and member of the Iraqi Council of Economic Council managing Said stoker, and Mohammed al-Jubouri, a member of the Council of Iraqi contractors administration, and Mohammed Shakir al-Dulaimi, a UN program, in addition to a large number of businessmen contractors and industrialists, economists and a number of media and satellite channels. "

During the seminar, and then the President of the Iraqi Council of Economic Council administration and the Secretary General of the Center for Investment and the Iraqi ages Development Ibrahim al-Baghdadi his speech, which he stressed on "the most important implications of government delays in the reimbursement of private sector companies, including the demobilization of tens of thousands of employees of these companies (workers and staff and engineers) due to lack of their ability to repay their salaries, which increase the volume of unemployment in Iraq and the resulting serious security, social and economic problems for the safety of social peace in Iraq. "

He added that "a number of these companies and their owners have borne the implications of this delay, which led to tribal and social problems resulted, the arrest of many businessmen and their families and subjected to threats and abuse."

And between, that "the private sector's reputation inside and outside Iraq, subjected to distortion and abuse and the loss of business and financial community confidence as a result of non-payment of his trust of the amounts of the mechanisms, machinery, equipment and materials imported and used in the implementation of many projects for the benefit of government agencies, which were delayed in paying the private sector dues ".

He pointed out that it "exposed the Iraqi government and its institutions to cracking in the wall of international confidence in the safety and to ensure that the investment environment in Iraq, the negative outlook, which silently on the investment sector as a result of lack of government commitment to the implementation of contracts concluded items where the government did not meet its financial obligations."

He continued that "it causes the accumulation of financial interest on loans taken from the private sector and its banks are government and private financial institutions as a result of the delay repay these loans has reached an alarming and frightening figures and outside the financial capacity of large companies in the private sector."

He pointed to "a number of banks and financial and government and private institutions sued the private sector companies and the prosecution of their owners booking their movable and immovable decisions and issuing memoranda (arrest warrant) for a number of them and ordered a travel ban for others and the resulting damage, psychological, moral, social and ethical and tribal realize all its dimensions. "

He explained, it "led to mistrust between the investor and government agencies in achieving economic security in the future, including a negative impact on the development plans and programs and reconstruction and investment in Iraq for the next phase."

The governor of the Iraqi Central Bank on the Keywords During the seminar, that "the state promoting the issuance of government bonds."

For his part, Haitham al-Jubouri, stressed the need "to emphasize the prestige of the state in the implementation of financial obligations to private companies". As spoke a large number of representatives of government agencies and representatives of the Iraqi private sector about the suffering that wounded contractors and businessmen due to delays in the payment of financial dues owed by state them.

He said al-Jubouri, that "many of the provinces was not cooperating with the Ministry of Planning as 15% of the 49 Foundation has responded over a period of a month or two for books issued by the Ministry of Planning in two weeks, how are covered the remaining 85%."

Turning to al-Jubouri, "the reliability of the foreign banks to borrow for the purpose of securing financial liquidity, but the complexities of dealing with these banks and the lack of facilities prevented the completion of the lending note that there are limitations in dealing with these banks."

The statement noted that "decisions have been taken with respect to amounts secretariats of contractors where they were to spend this deposit to non-beneficiaries of Contractors Upon completion of the contractor to work and get a clearance from the tax be surprised that there were no amounts held in the form of Deposit because they are distracted to other destinations."

He said the Deputy Minister Altakotaitkasem attention on "the subject of trusts", adding that "the trusts are legally not permissible for any authority to act out, but because of the circumstances of liquidity in the Ministry of Finance and Accounting Service has brought using this money, but the contractor who brings a clearance from the tax and demanding secretariats to find the necessary liquidity. "

He stressed that "the Ministry of Planning has taken steps and measures serious about arrears, the Ministry of Planning, but the financial situation has prevented its implementation."

And between that, "in regards to the instructions and implementation of government contracts has identified the relationship between contractors and government agencies," pointing out that "Aldhirah must be approved by 30 days and if no payment after this period worth Contractor interest on the amount, and that was in effect before 2003, but after that date, the economy has become a war economy no longer works in this format. "

She spoke director general of government contracts in the ministry blossoms spring on the subject of the fine The delay where issued uncles from the Ministry of Planning cancel delay penalties on the frozen projects or continuing with the absence of her financial allocations and this decision was fair for Mqaulin.bhsp mentioned Albaan.anthy 29 / A 43




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