Basra express fears of "gatekeepers economy" through the Holding Company

Thursday 21 January 2016 | 16:00

BAGHDAD / .. The local government has made in the province of Basra, on Thursday, fearing the establishment of a large holding company and local government owns 51% and 49% belonging to the private sector.

A member of the council in Basra Mujib al-Hassani's "Eye Iraq News," "The provincial council is considering now the establishment of a holding company and be like the second Suez Canal, where the local government and the private sector involved," explaining that "there is concern that controlled political or economic or owners of capital destinations money on that company and control the economy of the province. "

And between al-Hassani said, "There is a concern Other Any Some become emperor as have shares in this holding company and consists there stratigraphy in the visual society," stressing that "the decision to establish a company's return to the government of Basra and the Baghdad government income to do so."

It is said that the province of Basra is the beating heart of the Iraqi economy, it has five commercial ports, border crossings and implementers with Iran and Kuwait, as well as thousands of farms and orchards, and many large state-owned factories, also produces more than 2.0006 million bpd of crude oil, and through Coastal warehouses and ports floating oil exports most of Iraq's oil quantities.

And by virtue of the abundance of economic resources and geographic location overlooking the Gulf of the provincial council the previous edition has decided to call it economic capital of Iraq, so this podium is effective at the national level should the House of Representatives approval of a law that would turn the province into an economic capital, and indicates some of the paragraphs of the draft law to the creation of the secretariat of the capital , and the opening of the Stock Exchange (BSE). Ended 9