Planning announces submitting recommendations to the Cabinet on changing the currency rate
Baghdad / Al-Mawred News… The Ministry of Planning announced, on Thursday, that it will submit recommendations to the Council of Ministers regarding changing the currency rate on projects.
The ministry stated in a statement, “The committee formed according to Cabinet Resolution No. 63 of 2021, which will study the consequences of changing the currency exchange rate, held its first meeting at the Ministry of Planning,” noting that “the meeting was chaired by the Technical Undersecretary of the Ministry of Planning, Maher Hammad.” And it was attended by the Administrative Agent Azhar Hussein Saleh, the President of the Iraqi Contractors Union, Ali Al-Sanafi, and representatives of the Ministries of Electricity, Finance, Housing, Reconstruction and Municipalities, the Central Bank of Iraq and the National Investment Commission.
The Undersecretary of the Ministry of Planning confirmed that “this committee was formed to study the effects of changing the exchange rate of the dollar against the dinar, and to propose the required solutions, as far as the matter relates to investment projects, indicating that the committee’s work period will be one month, and after that it submits its recommendations to the Council of Ministers for decision. “.
He continued, “The representatives of the parties participating in the meeting presented a presentation of investment projects, methods of contracting with the implementing companies, and mechanisms for payment of the dues of these companies, whether those dues were unpaid debts or unspent advances,” indicating that “the committee will continue its meetings during the coming days, to lay down The required solutions and proposals, to address the effects of changing the exchange rate on investment projects.