Committee on Economic Affairs to take several decisions on economic development

Committee on Economic Affairs to take several decisions on economic development




06/13/2013
 


Published in: 4:04 pm, June 13, 2013 Editor: ipa 2
Shaways

BAGHDAD (Iba) .. Affairs Committee has taken a number of economic decisions at its ninth meeting today under the chairmanship of Deputy Prime Minister Roژ of Nuri Shaways.

Said a press statement from Shaways's office said the Committee agreed on a number of parts orders and increase the overall costs of projects in each of the provinces of Najaf, Karbala, Diwaniya, with a view to completing projects in a timely manner and fixed for the benefit of the people of those provinces them.

He also decided to submit a recommendation to the Council of Ministers to raise the powers of the heads of formations of the ministries to Takoelhm the authority to review and approval of contracts shall not exceed 20 million dollars so as to enable them to exercise economic activity and the implementation of a higher proportion of the general budget of the state and provide services to citizens by approving projects with character service and economic, with the recommendation to develop systems and cadres of the internal control systems in those formations to exercise supervisory work with full transparency in accordance with domestic and international standards.

In order to support and develop the private industrial sector Economic Commission decided to host the President and members of the Iraqi Federation of Industries to discuss the proposals submitted by the Union for the support and development of Iraqi industries and development that will ensure advancing economic progress.

It also recommended to the Council of Ministers to approve the amendment to the public treasury share of the profits of public companies (45%) (25%) in order to support the development and advancement of public companies including Whitlam with the financial situation of the economic level of the company.

The statement noted that in order to put an end to import laboratory productivity Alrdih that have a payoff negative impact on the Iraqi economy because of poor production and its impact on the environment and for the import factor productivity with high-tech help in supplying the Iraqi industry decided to form a committee from the Ministry of Commerce and the Customs General and the General Authority for Investment to put controls and selectors to import laboratory productivity.

The Committee also decided that the economic ensures the Ministry of Finance to study the reform of the insurance sector with the help of global systems on the subject and submit periodic reports to the Economic Committee in this regard.

The Committee recommended to the Council of Ministers to amend Article (15) of the Companies Law No. (22) for the year 1997 to allow private sector participation Iraqi with the public sector in the implementation of business-related targets the company public within Iraq, in order to contribute to the private sector in the construction and reconstruction of the country This reflects the state went offline in order to promote the private sector. (end)

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