Committee on Economic Affairs to take a number of decisions

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13/06/2013 15:21:00

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Rose Nuri Shaways
The Committee on Economic Affairs its ninth meeting on 06.11.2013 under the chairmanship of Deputy Prime Minister Roژ Nuri Shaways and attended by ministers (finance, planning and oil, trade and industry, minerals and agriculture) and President of the Office of Financial Supervision and the province of the Iraqi Central Bank and Chairman of the National Investment Committee has taken a number of decisions that are in the interest of economic development and advancing economic progress forward, and the faith of the Committee the vital and important role of the private sector in building the Iraqi economy, and these decisions: 

1 - approval of a number of parts orders and increase the overall costs of projects in each of the provinces of Najaf, Karbala, Diwaniya, with a view to completing projects in a timely manner and fixed for the benefit of the people of those provinces them. 

2 - Recommendation to the Council of Ministers to raise the powers of the heads of formations of the ministries to Takoelhm the authority to review and approval of contracts shall not exceed 20 million dollars so as to enable them to exercise economic activity and the implementation of a higher proportion of the general budget of the state and provide services to citizens by approving projects with character service and economic with the recommendation to develop systems and cadres of the internal control systems in those formations to exercise supervisory work with full transparency in accordance with domestic and international standards. 

3 - In order to support and develop the private industrial sector Economic Commission decided to host the President and members of the Iraqi Federation of Industries to discuss the proposals submitted by the Union for the support and development of Iraqi industries and development that will ensure advancing economic progress. 

4 - recommendation to the Council of Ministers to approve the amendment to the public treasury share of the profits of public companies (45%) (25%) in order to support the development and advancement of public companies including Whitlam with the financial situation of the economic level of the company. 

5 - In order to put an end to import laboratory productivity Alrdih that have a payoff negative impact on the Iraqi economy because of poor production and its impact on the environment and for the import factor productivity with high-tech help in supplying the Iraqi industry, decided to form a committee from the Ministry of Commerce and the General Customs and the General Authority for Investment to develop controls and selectors to import laboratory productivity. 

6 - In order to develop the insurance sector, both public and private sectors Economic Commission decided that ensures the Ministry of Finance to study the reform of the insurance sector with the help of global systems on the subject and submit periodic reports to the Economic Committee in this regard. 

7 - Recommendation to the Council of Ministers to amend Article (15) of the Companies Law No. (22) for the year 1997 to allow private sector participation Iraqi with the public sector in the implementation of business-related targets the company public within Iraq, in order to contribute to the private sector in the construction and reconstruction the country which reflects the state went offline in order to promote the private sector.




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