7.6 trillion dinars dues payable for four thousand project and expectations for payment in 2017

2016-06-26 19:01:00 | (Voice of Iraq) - Baghdad

Financial advisor to the Prime Minister revealed, on Sunday, all dues payable to contractors owed ​​the government $ 7.6 trillion dinars, revealing a governmental mechanism to pay part of the dues through the national bond worth 5 trillion dinars, and had been expecting the reimbursement of all contractors during 2017, confirmed Iraqi Business Council that the payment will include four thousand stalled project.

Financial advisor to the Prime Minister, said the appearance of Mohammed Saleh said that " the government adopted a national bond which was ratified by the general budget for the current year , worth 5 trillion dinars, to reimburse contractors and farmers in accordance with the rates and mechanisms developed for it , " noting that "Contractors due dues payment amounting to 7 trillion and 600 billion Iraqi dinars. "

Saleh added, " The government will pay strategic projects , which represents completion and operation in addition to state benefits, increased by 100% in the event of an access completed to 80% or more ratios , " noting that " the state will pay 50% of the benefits the rest of the projects are deducted 10% of the collateral paid Later",

Financial Advisor to the Prime Minister Haider al - Abadi and predicted that "all dues are paid contractors during the next year in 2017".

For his part , head of the Iraqi Business Council David Zayer said in an interview to the (long - Presse), " The government has set up a mechanism for the payment of investment projects contractors dues increased by 100%, while will pay 40% of the projects is the strategic contractors dues."

Zayer promised, that " the identity of the person or entity responsible for the classification of other strategic projects will represent an obstacle to the implementation of the mechanism established by the government , " calling for "taking this problem into account."

The head of the Business Council, that " the implementation of this mechanism began as of today, by sending Treasury bills of exchange to the central bank, and prepared in advance by the Ministry of Planning , " noting that "some of the ministries and provinces did not send, so far, coupes entitlements Contractors to The Ministry of Planning".

He pointed Zayer, to the importance of the "Send those disclosures as soon as possible, and otherwise, those provinces and ministries are bear the responsibility for delaying dues contractors exchange , " revealing that " the $ 5 trillion dinars and who will pay for contractors in accordance with the repayment of government mechanism, will include four thousands of a project depends registered with The Ministry of Planning".

He was a member of the Committee on the economy and investment representative, announced on Saturday (June 15, 2016), providing financial liquidity in the government banks to pay the dues of contractors by 40%, as he emphasized that the remainder of the dues will be launched after the completion of the audit of projects by the Office of Financial Supervision.

The Council of Ministers, approved in the (14 June 2016), the launch of dues contractors by 50% of the total dues down first, and to report the implementation of the first chapter of the general budget in 2016 for the House of Representatives.

The Council of Ministers decided (19 April 2016) the formation of a committee headed by Minister of Planning and the membership of the governor of the Iraqi Central Bank and economic advisor to the Prime Minister and Financial Advisor to the Prime Minister and the Undersecretary of the Ministry of Finance, Undersecretary of Technical Planning, holds the structure and controls the completion of the distribution of Contractors benefits the process of setting through government bonds, and submit its recommendations to the Prime Minister for approval within a week.