Dhi Qar: disagreements between the Ministry of Finance and the Central Bank stopped payment on credit to maintain projects
11/15/2015
0 Comments

Picture
Twilight News / attributed the governor of Dhi Qar Yahya Nazarene on Sunday delayed the implementation of government projects in a way payment on credit due to the differences between the Ministry of Finance and the Central Bank of Iraq on the bond issue, stressing stop government projects in Dhi Qar province, almost exclusively as a result of the fiscal deficit.
He said the Nazarene in a statement, said that "what was issued by the General Secretariat of the Council of Ministers and the Ministries of Planning and Finance on the implementation of projects in a way payment on credit is still in the process of seminars and evaluation, has been to manage the province and other provinces more than a meeting with the Ministry of Planning for the purpose of clarifying the mechanism of action in a way payment on credit" .
He pointed to the existence of a dispute between the Ministry of Finance and the Central Bank of Iraq about the issuance of bonds for the financing of projects to be implemented in a manner payment on credit.
He expressed the governor of Dhi Qar hope that encourages the process of implementation of the projects in a way payment on credit priority by the Ministry of Planning and Finance and the Central Bank of Iraq to issue a guarantor and deal with the financing of projects capable of banks bonds.
He stressed the Nazarene on the importance of coordination between the concerned ministries and the Central Bank of Iraq about the mechanism of financing the stalled government projects, almost entirely as a result of the fiscal deficit, stressing the need to maintain critical for the implementation of projects of service, alluding to a number of companies and banks offers to carry out conservation projects in a way payment on credit.
The number of government projects currently stalled in Dhi Qar province as a result of the financial crisis, 444 projects spread over 22 sectors Khaddmaa and developmentally.
He was the governor of Dhi Qar confirmed in (June 14, 2015) that the project funds do not cover the debt owed to the companies and contractors, indicating, that the administration of the province will adopt the mechanism adopted by the recent Council of Ministers in the payment of those debts, according to the percentages achieved in the completion of projects, noting, that financing projects and maintaining the plan adopted in this area require more than 800 billion dinars in general, and that what has been achieved at the present time of the stages of the work of these projects requires more than 115 billion dinars, and this debt due and payable to contractors.
The Department of Dhi Qar province, announced on Wednesday (November 11, 2015) the absolute rejection of the allocations of the province of the federal budget for 2016, and as described mentioned the budget year amounting to 150 billion dinars, very infrequently, she pointed out that the province only 37 percent of its budget had not received for 2015 as This led to the extinction of the province and stopped projects.

http://www.ara.shafaaq.com/39243