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Abadi adviser preclude the completion of stalled projects

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Abadi adviser preclude the completion of stalled projects




11/11/15

BAGHDAD / Hazem martyr

The head of the Commission on reconstruction in the province of Baghdad, on Monday, that the best solution and optimal for the implementation of strategic projects lagging, is to rely on companies according to a mechanism "payment on credit", and as revealed Zamili for the preparation of the agenda the task of projects for submission to the Government, Economic Adviser to the Prime Minister the appearance of said Mohammed Saleh that energy projects have priority in implementation.
Said Zamili in an interview for the "long", that "projects that the provincial council intends to present relating to sanitation, buildings and cladding, as well as water projects," noting that "among other projects create hidden conveyor line to the police channel line of another carrier to the army channel for the purpose of avoiding floods In the coming years, "adding that" the current crisis in the country requires a search for alternative resources and mechanisms to ensure the implementation stalled and strategic projects ".
Zamili He explained that" the provision of sovereign guarantees for foreign companies, one of the problems that hinder the implementation of projects, particularly to those companies dealing with The central government because the financing is done by foreign banks that deal directly with the center, "adding that" if the provision of such bonds, companies will charge a rate of 6% of the project in charge of value done, and be paid the remaining amount after two years of implementation in the form of payments for periods ranging between four to five years.
"Zamili He continued that" the government create the appropriate conditions for the entry of foreign companies discreet to avoid getting caught in the maze, he said, pointing to the importance that there be a full understanding of the mechanism of payment on credit before proceeding with it.
"The member of the Baghdad Provincial Council that a number large projects referred to by direct implementation, including hospitals implementation is not complete until the time, stressing the need to resort to the implementation of the stalled projects and some new projects in a manner postpaid.
"suffer various governorates of Iraq of the stalled projects and that there were many reasons for stopping file, some of which has lagged behind the state to pay dues due to the financial crisis and the other because of corruption, while the projects stopped as a result of referral to ineligible companies, while the government at this time focused on finding a way out of the financial crisis and find solutions for the implementation of important projects, give priority to projects related to oil and gas.
In turn, the prime minister's adviser Economic appearance of Mohammed Saleh, said that Iraq is absorbing the oil crisis stage after sinking oil prices, which constitutes 99% of the flow of money, and the impact of fixed expenses of salaries, and in what he said that $ 5 billion was allocated in the budget of 2015 in loans for projects payment on credit, he stressed that priority will be for the implementation of energy projects.
Saleh said in an interview for the "long" that "the government is seeking to implement projects related to electricity and oil because it is the biggest supplier of other development projects, pointing out that 60% of the investment budget allocated to those projects with the remainder allocated to other projects." .
He revealed that "the 2016 budget will include $ 5 billion in other loans for projects payment on credit likely to be a focus on the implementation of natural gas, oil refining, petrochemicals, plus electric power projects."
The implementation of payment projects on credit to pay large sums of money and multiply, then the projects funded by foreign banks seeking to achieve big profits by waiting for the payment of amounts to up sometimes to 10 years.
Saleh pointed out that "the Iraq if it resorted to expand the payment on credit projects it Sakpl very heavy debts, revealing at the same time that the government had received many offers from foreign companies different but the latter having trouble choosing discreet companies and which is characterized by the implementation of similar work in particular that the selection must be so precisely because those companies will charge exorbitant amounts for the implementation of projects. "The head of government adviser" that sovereign guarantees available after it approved the law and that the Ministry of Finance is who will provide the bond accordingly. " In reference to the general economic situation he says Saleh said that "Iraq will remain until 2017 to absorb financial shock phase to adapt after the other conditions that would be more rational and sensible in choosing priorities for projects and diversify its resources."

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