12/10/2010
Iraq calls for financial industry companies to convert its self-financing
Baghdad, demanded that the Iraqi Finance Ministry on Tuesday, the Ministry of Industry and Minerals to work to transform its affiliates to self-finance companies in order to cover the expenses of its employees.
The chancellor said the Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) announced today that "The Ministry of Industry is invited to be turned all the companies to profitable company, and not to rely on government funding, because that confuses the Iraqi economy and puts more obstacles to progress financial system in the country" .
He continued, saying, "We expected that the ministry of industry and minerals to convert the majority of industrial firms to profitable companies in 2010 is that the obstacles faced a difficult ministry prevented that, and we hope that this be done in 2011."
He Alckheon saying that "the request was made of the fact that the financial situation does not allow spending on the Ministry of producer is supposed to support the state revenues."
He explained that "there are financial constraints have led to the inability of the Ministry of Finance to continue to finance the production companies of the Ministry of Industry."
For his part, said Minister of Industry and Minerals Fawzi al-Hariri's (Rn), "The Ministry will work to convert more than 15 companies to profitable companies Bdaipaam 2011 after it has been making important decisions in this regard."
He pointed out that "in 2010 marked the conversion of 13 companies affiliated to the ministry to the profitable company, after the system has been revised economic work and provide approximately 190 billion dinars for the dividends Mozvien and cadres of the ministry."
Hariri and said he "may be converted large numbers of staff from those companies to self-funding system that needs to be depth studies."
The Finance Ministry had warned earlier, the Ministry of Industry and Minerals to withdraw her hand from granting salaries to its employees because of a financial deficit in the ministry in 2010.
The system self-financing required to pay the state 60% of the salaries of staff, compared with 40% self-financed production of some government institutions.
It succeeded the Ministry of Industry in the rehabilitation of 173 of the laboratories of the Ministry of Industry's 184 plants, weighing Trliuna amounted to 700 billion Iraqi dinars.
The Iraqi government has called for, the Ministry of Industry and Minerals to give clear statements on the specifications of their products to support the marketing of locally.
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