Iraqi National Business Council will not give up until Contractors recover all their rights

Views 43 Date 23/06/2016 - 18:50

Economy News / Baghdad ...

Iraqi National Business Council held a workshop at the Ministry of Planning, with the Status of receivables Contractors Exchange through government bonds Committee in the presence of the Minister of Planning, Dr. Salman al-Jumaili.

During the workshop, the review have exceeded Committee of the bond covering 40% of the dues payable at an interest rate of 5% per annum payable exchange after three years rather than two years, has been providing liquidity in banks, Rafidain and Rasheed, trade to liquidate all bonds and by 40% of the dues Almquaoliyn equally to all those who wish, how was the formation of a committee of experts to evaluate the strategic projects as needed and that her pedigree completed high for the disbursement of 100% of the dues taking crisis pledges to complete.

The Committee also made it clear that the rest of the 60% of the dues will be paid after the completion of Supreme Audit scrutiny of these projects as requested by the International Monetary Fund and that the audit has been completed up to 87% so far.

Mr. David Abdul Zayer president of the National Business Council of Iraq has made a statement in which this problem and highlighted the sufferings of the brothers contractors and their suffering and the impact on all construction companies called on the government and the Committee strongly Return to exchange 50% of entitlements wondering Government Is reward from the government for these companies that contributed to the process of Iraq's reconstruction?

Be exposed to these heavy losses and bankruptcy in some cases and how it will build confidence in the future?

He gave Imad Majed Nehme prime contractors Maysan rally demanding the audience to stay away from pleasantries and discussing the suffering Contractors realistically because their problem has risen to the humanitarian disaster and social clan to its repercussions, which pays the contractor for them daily, and told the committee hold the government and Nhmlkm (the Commission) full responsibility for any harm suffered by contractors and their families as a result of the delayed exchange, as the Commission called on to answer the following questions: -

1. What is the mechanism that would be paid by the bond and how the contractor shall transfer to liquidity.

2. When the bond exchange begins and what is the time limit.

He was Minister of Planning and apply a clear answer from the Commission to these questions, which blocked an answer by Mr. Deputy Finance Minister Fadhil Abdul Nabi

He said: -

1. The mechanism would be as follows after the arrival of lists of benefits to the Ministry of Planning scrutinized and submitted to the Ministry of Finance, which will send a book exchange to the central bank, which will be spent bonds to the contractor can go to any of the bank governance or Mesopotamia or trade to be converted to liquid directly.

And Sataatm Send an exchange books for each destination (province or ministry ... etc) if it arrives.

2. The Ministry of Finance will start sending written exchange to the central bank for the first meal lists have already been received from the Ministry of Planning before Eid al-Fitr, God willing.

Mr. Minister of Planning will also raise the recommendation to the prime minister for a mainstream version of binding to all contractual parties to give a specific timeframe to provide lists of dues and otherwise bear all the contractual legal and administrative consequences.

Engineer Abdullah al-Jubouri Aoiz has been offering provoking question in the case do not send all the advances by the ministries to the Ministry of Planning?

Dr. Salman al-Jumaili Planning Minister also explained that the point of hiring bear the legal consequences of integrity and accountability in the case not to raise dues payable for any contractor.

Mr. Khalid al-Obeidi, progress and raised the issue of clearance from the General Authority for taxes as the body requires converting the amount of tax in full even issued clearance Mr. Undersecretary of the Ministry of Finance replied that it would issue uncles to give them clearance provided that they are tax amounts have to ministries, while providing liquidity.

Mr. David Abdul Zayer that has demanded the intervention currency bond auction in the event that the contractor is required dues to the dollar at banks to open adoption for the same purpose of the project was the deputy governor promised to submit topic on the central bank governor.

From the principle of (then called Take) consider the policies included in this workshop is a step on the road to obtaining all Contractors slice rights.

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