Chamber of Commerce Federation calls for establish of sovereign fund to support SOE's

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Chamber of Commerce Federation calls for theestablishment of a sovereign fund to support loss-making state-owned companies
09-09-2016

It called the Union of Chambers of Commerce, on Friday, to establish a sovereign fund with a capital of no less than 200 billion dinars to support loss-making state-owned companies and rehabilitated to make them productive and profitable.

The head of the Federation of Chambers of Commerce Jaafar al-Hamdani said in a statement "the economy News" received a copy of it, that "some state-owned companies, particularly within ministries of industry and minerals, agriculture and trade suffered a great loss as a result of the entry of imported goods made production lines and delay its work," they returned to it, "reflected negatively the reality of the Iraqi economic and gross domestic product. "

He said al-Hamdani, that "the best way to advance these companies establish a sovereign financial fund With a substantial capital not less than 200 billion dinars, can be increased through the contribution of the government and the private sector, to support those companies and enable them to rehabilitate its production lines and updated, and the import of raw materials that you need."

He said al-Hamdani, that "the existence of such a fund should be accompanied by legal legislation to ensure its success, including tariffs and protect the product and the consumer law, as well as having real control to support this proposal and ensure its implementation."




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