Economy and Investment Committee meets with Minister of industry and minerals to self-financing companies file search

(Voice of Iraq) met with the Committee on industry and the economy walastthmarwalmso'olh solution file self-financing companies headed by mp Abdul Karim Al-Naqib on Wednesday 18/11/2015 with industry Minister, Mr. Mohamed Al-daradji and his accompanying delegation, to discuss the problem of these companies.

Mp captain during the meeting held at the headquarters of the Commission that the difficult economic conditions currently affecting the country as a result of lower oil prices in the world market and synchronized with the war "to counter gangs daash terrorist", forcing us to fully exploit our energies and to find appropriate solutions to the problems plaguing economic sectors, especially industry.

The captain called for the need to expedite the solution of the problems of financing companies's Ministry of industry and minerals through a series of actions and recommendations that had already been reached by the Committee in charge of studying the subject in coordination between the legislative and executive branches, indicating that reactivation of the industry means reducing waste of money on imported goods and create additional jobs and filling a market need and the return of the industry as a dolly to the State budget, which is still dependent on oil resources only.

Meanwhile, industry and mining Minister Mohamed Al-daradji about having internal and external mafia carried out policies centered on maintaining Iraq under-industrialized to ensure its survival dependent on import and the exaggeration phase that followed in 2003 to more than $ 300 billion, equivalent to 51% of Iraq's oil revenues.

Al-daraji emphasized that seeks to implement the recommendations of the Joint Committee, some of which has already been achieved through the draft budget law, which stipulates the conversion of corporate salary budget self-financed after the loans were provided by State banks and no longer able to continue with this process, adding "be compelled companies to produce and access gradually to profitability or at least phase bridging costs, other solutions to combat corrupt episodes which impede corporate investment by the private sector".

Al-daraji called to find a solution to the problem of marketing the product where that difficulty in marketing the product to ministries and even within the markets for some actors do not apply the product protection laws and customs tariff ".