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Industry: ministry firms borrow trillion and 300 billion dinars a year to cover salaries


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Thursday February 2, 2017 13:40
 
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Alsumaria News / Baghdad 
revealed and Industry Minister Mohammed Shia 'Al Sudani agency, on Thursday, said the ministry companies borrow trillion and 300 billion dinars annually to cover the salaries of its employees, adding that the ministry was held last ended 29 companies lagging behind. 

Sudan said in a press conference held at the Ministry Building and attended by Alsumaria News that "all the ministry 's companies, except one or two companies out of 33 affiliated companies take loans from the Ministry of Finance to secure the salaries of its employees," he said . "These companies borrow annually trillion and 300 billion dinars , which is large sum under the current circumstances. "

 

 

 

 


He added that the Sudanese " The ministry has a plan by 2017 to convert 10 to 15 companies from the ministry 's companies to a profitable and able to finance and insurance companies without their employees ' salaries that borrows from the Ministry of Finance." 

He said the Sudanese " The ministry had previously formed committees audited the contracts previously concluded with some of the companies between the post and the investment of $ 121 contract, which was terminated 41 holding of these contracts, as he has now been canceled 29 contracts last for the lack of seriousness of the investing companies and not being able to fulfill its obligations contractual , "noting that" these investment opportunities will be put back on solid companies and the form in which Iraq is a product that is not a net importer of goods from other countries. " 

The Ministry of Industry is still suffering from their inability to compete with cheap foreign goods entering Iraq companies, making it to a standstill and an almost complete paralysis in these companies.

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Economy News / Baghdad ...
 
 
 
Minister of Industry revealed Agency Mohammed Shia 'Al Sudani, on Thursday, said the ministry companies borrow trillion and 300 billion dinars annually to cover the salaries of its employees, adding that the ministry was held last ended 29 companies lagging behind.
 
Sudan said in a press conference held at the Ministry Building and attended by "Economy News" that "all the ministry's companies, except one or two companies out of 33 affiliated companies take loans from the Ministry of Finance to secure the salaries of its employees," he said. "These companies borrow annually trillion and 300 billion dinars a large sum under the current circumstances. "
 
 
He added that the Sudanese "The ministry has a plan by 2017 to convert 10 to 15 companies from the ministry's companies to a profitable and able to finance and insurance companies without their employees' salaries that borrows from the Ministry of Finance."
 
He said the Sudanese "The ministry had previously formed committees audited the contracts previously concluded with some of the companies between the post and the investment of $ 121 contract, which was terminated 41 holding of these contracts, as he has now been canceled 29 contracts last for the lack of seriousness of the investing companies and not being able to fulfill its obligations contractual, "noting that" these investment opportunities will be put back on solid companies and the form in which Iraq is a product that is not a net importer of goods from other countries. " 
 
 
 
 
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Views 173   Added 02/02/2017 - 14:54   Last updated 02/02/2017 - 16:10   No. Content 6634
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I realize the tremendous amount of curuption from goi members to the money changers on the street but when Iraq is only using oil to finance everything that's a problem they were told years ago to diversify the economy by the imf and those following along have seen the issues over and over that said until Iraq moves to a free market economy instead of Baghdad controlling it all it will continually be a struggle financially depending on oil to do it all 

Iraq has needed so much to begin the process & being controlled by dictators never had the citizens in mind abadi has made excellent progress considering all that he has been delt important laws still need to be passed and many of the laws will separate the thieves from the cash cow and there in lies the main issues .. we patiently watch and wait .. Ty yota 

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