The Government will defer payment of interest on loans to companies and contractors

05/01/2017 02:56 | Hits: 82


Economic Affairs Committee chaired by the Minister for planning Ministerial Salman Al-jumaily, a number of recommendations and resolutions on Economic Affairs.

According to a statement by the Ministry of planning "trend" I got a copy of it, that "the Commission during the eighth meeting, lifted a recommendation to the Council of Ministers to consider the possibility of a possible reduction in the discount rate of 5% of the value of the bonds by State banks to contractors under financial entitlements."

The statement added that "the Commission decided to entrust the Treasury agent and address the issue of granting discharge when deducting the tax amount incurred by the contractors by the contracting authority or with the contractor.

The Commission confirmed by the statement "on the application of the decision of the Council of Ministers No 40 of 2016 containing postponement interest on loans to companies and contractors from State banks account disclosure statement while easing the financial crisis."

The Committee agreed "on granting exceptions requested by the independent High Electoral Commission which would enable the Office to fulfil its mandated functions, as well as agreeing to give the Commerce Department authority to negotiate and direct contracting with Iraqi-Vietnamese company to provide material rice into the vocabulary of the ration card".

It also agreed on forming a Committee headed by the Inspector General at the Ministry of finance and membership of a number of other bodies recovered by lending amounts and checking of agricultural initiative allocations. "