Abadi adviser: Financial will issue bonds worth five trillion dinars to pay dues of contractors and farmers

Author: HH, ZJ
Editor: BK, HH
24/07/2016 13:29



Long-Presse / Baghdad

Affirmed the financial advisor to the Prime Minister Haider al-Abadi, on Sunday, the Ministry of Finance will issue bonds to pay five trillion dinars dues Contractors, amounting to about seven trillion and six billion dinars to pay the remaining amount of other bonds subject to coverage by law the budget for the next year in 2017, and while noting that it will include farmers who delivered their crop of grain to the Ministry of Commerce did not collect their dues for the period from 2014 to 2016, it pointed out that the payment will be 100% for strategic projects and 50% of the other.

He said the appearance of Mohammed Saleh said in an interview to the (long-Presse), "The benefits Contractors unpaid of around seven trillion and six billion dinars to meet physical completion ratios varying contracting projects completed with the government," noting that "the government has adopted a specific mechanism for the payment of those benefits include payment 100% for strategic projects, which amounts to 80% completion percentage and more, while 50% will be paid to those below the percentage completed for 80%. "

Saleh added that "the benefits will pay a government bond issued by the Ministry of Finance and managed by the Central Bank of Iraq on behalf of the government," noting that "the duration of the bond of three years from the date of issuance annual interest rate of 5%."

He continued financial advisor to the Prime Minister, that "the bond issue was worth five trillion dinars," pointing out that "the rest of the dues will be paid other bonds provided coverage of the law next budget for the year 2017".

He stressed favor, that "farmers who handed over their cereal crops to the Ministry of Commerce for the years 2014- 2015 to 2016, and did not collect their dues, Ciecmlon in that settlement," explaining that "can beneficiary of the government of Sindh to keep it or mortgaging or transferring ownership, as well as his opponent and turn it into a criticism means off the central bank if they wish so. "

The Council of Ministers, approved in the (14 June 2016), the launch of dues contractors by 50% of the total dues down first, and to report the implementation of the first chapter of the general budget in 2016 for the House of Representatives.

The Council of Ministers decided in the (19 April 2016), the formation of a committee headed by Minister of Planning and the membership of the Iraqi Central Bank Governor and advisers economic and financial to the Prime Minister and the agents of the finance and planning ministries, holds the structure and controls the completion of the distribution of Contractors benefits through government bonds the process of developing , to submit its recommendations to the Prime Minister for approval within a week.


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