The Council held a seminar on corporate payments Extender

Since 2016-05-30 12:06 p.m. (Baghdad time)

Baghdad scales news

The Council discussed the Iraqi Government delays economic repercussions in the reimbursement of private sector partnerships, noting that payment of these dues will be through government bonds.

Board said in a statement/balance news/copy, "a symposium themed Board discussion (private dues mechanism through government bonds).

The statement added that "the symposium hosted by the Iraqi Central Bank Governor and Finance Committee Member relations representative vicar Haitham Al-jibouri and Planning Minister Qasim agent carefully, and several members of the House of representatives and a number of government officials and a large number of private sector".

He continued, "the Director-General of the Department of government contracts in the spring blossoms and Planning Department head of Iraqi Council Ibrahim Al-Baghdadi and Adviser to the Office of the President of Shirawan waeli and Deputy Chairman of the Committee on Agriculture and ULI Tamimi marshes and waters, and Hassan Al-Tamimi, Chairman of agricultural associations and President of peasant economic grouping Comino and Board member of the Iraqi Council and the Financial Secretary Karim Al-yasiri, a Board member of the Iraqi Council and Administrative Secretary major Rahmani, Board member of the Iraqi Council Saeed Stoker, Muhammad al-Jabburi, Board member of the Iraqi contractors, Muhamed Al-dulaimi on the United Nations, in addition to a large number of businessmen and entrepreneurs, industrialists and economists and a number of media and satellite channels.

During the seminar, then gave the Iraqi Economic Council Chairman and Secretary General of the Iraqi investment and reconstruction development center Ibrahim Al-Baghdadi, said the "most important reflections delay in reimbursement of private sector companies, including laying off tens of thousands of employees of these companies (workers and employees and engineers) because of their inability to pay salaries, thereby increasing the size of unemployment in Iraq and the resulting economic and social problems and serious security integrity of social peace in Iraq."

He added that "a number of these companies and their owners endured the repercussions of this delay that led to tribal and social problems that resulted, many businessmen and their families to threats and abuse."

And, that "the private sector's reputation within and outside Iraq subjected to mutilation and abuse and loss of trust business and financial community and as a result of the failure of the debtor to mechanisms and machines, devices and materials imported and used in the implementation of many projects for government agencies, which delayed reimbursement of private sector".

He said, "the Iraqi Government and its institutions to crack in the wall of the international confidence and ensure the safety of the investment environment in Iraq and the negative view that silently on the investment industry due to government commitment to implement the provisions of the contracts where the Government did not meet their financial obligations.

He who causes the accumulation of financial benefits to loans from the private sector and its companies of banks and financial institutions and non-governmental by delaying repayment of these loans and had reached a mind boggling and frightening and beyond the financial capacity of the large companies in the private sector. "

"A number of banks and financial institutions and governmental and private lawsuits to private companies and to prosecute their owners booking decisions on their movable and immovable and warrant (arrest warrant) for a number of them and others travel prevention orders and the resulting psychological damage, moral, social and ethical and we realize all dimensions clan."

He said, "led to investor confidence shaking government agencies in achieving future economic security negatively affects reconstruction and development plans and programmes and investment in Iraq for the next stage."

The Central Bank Governor said the relationship during the seminar, that "the State Government bond promotion."

Haitham Al-Juburi confirmed the need to "emphasize the Majesty of the State in implementing financial obligations to private companies.
As he spoke a large number of representatives of government agencies and private sector representatives about the suffering that plagues the contractors and businessmen due to delayed payment of financial receivables in the State owes them.

Jabouri said that "many provinces not cooperating with the Ministry of planning so that 15% of 49 founder responded a month or two of books issued by the Ministry of planning how 85% are covered in two weeks remaining.

Jubouri spoke to "the possibility of relying on foreign banks to borrow for the purpose of ensuring liquidity but the complexities in dealing with these banks, not to provide facilities prevented completion of loan note that there are limitations in dealing with these banks."

And the statement that "decisions taken regarding safety deposit amounts for contractors where the Exchange to non-eligible contractors upon completion of contractor for work and get tax clearance surprised by the lack of reserved amounts on form secretariats because she spent to others."

The Deputy Minister emphasized carefully altkhtitakasm "thread safe", noting that "safe is legally not permissible for anyone to act but because of the liquidity condition in Ministry of finance accounting service were using, but the contractor who brings tax clearance and demands the secretariats to find liquidity."

"The Ministry of planning steps and serious measures regarding arrears, the Ministry of planning, but the financial situation has prevented its implementation.

And, it "in regards to help implement government contracts identified relationships between contractors and Government agencies", noting that "alzerah must be validated in 30 days if the payment is made after this period worth contractor interest on that amount, and that was in effect before 2003, but after this date it became war economy economy and no longer works with this formula.

Speaking General Manager Government contracts in the spring blossom on the Ministry theme fine delay where uncles released from the Ministry of planning to cancel delay penalties on frozen or ongoing projects with no financial allocations and that the decision was fair because contractors. According to the statement, that was over 29/34