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Academy: the exploitation of oil resources in the revitalization of the productive sectors

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Academy: the exploitation of oil resources in the revitalization of the productive sectors

11/23/2015 0:00

BAGHDAD Imad emirate
is the oil sector of the national economy artery in Iraq and the source of the most important in the generation of national income and the provision of foreign currency needed to finance imports, and for being one depleted resources should think seriously exploiting the proceeds from this sector for the purposes of achieving overall economic development, and the development of other sectors of the productive and non-productive requires laying the foundations and pillars of the national economy by initiating the establishment of infrastructure to initiate the process of development.
In this regard, the academic said economist and expert d. Said Clinic of the University of Anbar in an interview for ┬╗Sabah┬╗: that the use of oil revenues to build a modern and robust economy requires the initiation by firing a strong boost from investments in all areas, and calls for the events of the development of human resources capable of holding the reins to take on new tasks and responsibilities to manage the helm of the national economy and diversify in order to achieve well-being of all citizens.
He Said that reliance on the oil sector to ensure the needs of the individual without initiating the construction of sustainable development and achieve self-sufficiency rather than dependence on the outside will make the Iraqi economy is subject to the economy of developed countries, which is the case with currently.
He pointed out the need for the concerned all using oil revenues to events sustainable development and employment of creative investments and the transition from dependency to Ahvaz on the rights of future generations, it wealth for all and not the wealth of one generation. He Said in order to diversify sources of national income has to be direct projects of strategic, such as iron and steel, investment phosphate and exploitation of sulfur and extraction of natural gas and fertilizer plants, paper, filters and the production of aluminum industry and electrical engineering materials projects, noting that all these projects will contribute to absorb unemployment and reduce reliance on overseas to meet the needs of Almojtma.utaba should initiate a dialogue on ways to use the oil revenues, taking into account the lessons learned from the oil-producing countries and Iraq's past oil. And give priority to the establishment of a special fund in isolation from the general national budget so that its structures autonomous and to a large extent on the status of political decision-daily, and installation of equipment for measuring oil in order to control oil revenues and the provision of modern and regular information about the income and expenses of the Development Fund for Iraq.
He concluded d. Clinic to say: The restructuring of the oil sector and the integration of national oil companies and one company and the adoption of policies and practices of an open and transparent and acceptance to attract foreigners, and follow the strategy for the promotion of partnership between oil and gas companies of foreign and Iraqi companies will be important to get to the sources of funding for the necessary funds to hold capital expansion and rehabilitation of the oil industry.

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