Industry and minerals Minister directs reconsideration of 171 investment contract

2016-10-11 13:37

{Baghdad: Euphrates news} the Minister of industry and minerals agency Mohamed sheyaa, reconsider 171 investment contract.

Sudan said in a statement, the Agency received a copy of {Euphrates news} today, "most countries in the world are currently moving toward a market economy and stimulate the private sector and that the Ministry was working with the Government in this aspect by making private sector actor and supporter and a contributor with the Government sector to meet the requirements of life which in turn needs to take steps to correct and courageous and bold decisions require a rush to invest and participate with specialized companies able to rehabilitate and modernize production.

"The steps that have been implemented in the Ministry of industry and minerals are rethinking 171 participation investment contract concluded by the Ministry in various sectors that it was supposed to be positive results in terms of product lines, strengthen and rehabilitate the companies in order to better contribute to citizens ' needs, but what happened is the opposite, since a large percentage of those contracts was a failure and did not add anything to the labs and companies, as well as a waste of time, effort and wasting a lot of chances which he Supposedly invested. "

The Ministry had recently merged and downsized companies from 76 to 32 companies after two years of exhaustive study indicating that step mergers yielded a technically and administrative consequences, show a discrepancy between companies, improved performance, versus having some problems, in other companies, the idea of the merger is a necessity required by the public interest in order to compress expenditure and reduce SAG in some departments.

The Minister said the changes made in some quarters of the public companies, stating that "those changes were made after a series of meetings and interviews with those involved in Ministry, and see some files for work and have been diagnosed faulty in some joints, especially if management appoint some directors had not been subject to professional standards and controls are supported but came in ways that are incorrect."

He noted that "each prove incompetence and his ability to promote the company's reality or the circle, so after discussion and expanded dialogue with Secretaries and advisers, the Inspector General, a need for a decision to exempt and rotate five directors of Ministry departments and companies, at the same time was interviewing a group of employees of those companies and departments in order to choose new candidates to manage them in accordance with the professional standards that rely on the integrity, competence and experience of the employee's service in your company or Department.

As regards the possibility of promotion firms confirmed that "Iraq has a large industrial base and staffing tables of great craft and experience and the ability to keep up with the evolution, with a local market, so that successful companies need to take steps to correct and courageous decisions and bold, rush to invest or participate with specialized companies able to rehabilitate and modernize the production with the addition of new lines".