Pay the premiums and financial debt stumbles in Kurdistan because of the scarcity of cash

Monday, April 7 / April 2014 17:13



Twilight News / owners complain about a character and business careers in the private sector in the province of Kurdistan and disputed areas of Baghdad with the impact of the lack of financial liquidity and delayed clients and customers to pay the consequences of Bzmmanm monthly installments on their business.

The Kurdistan Region is suffering from the lack of liquidity in the financial result for the exchange of Baghdad stopped its share of the financial budget of the country; what caused the delayed payment of salaries for the second month in a row.

There are thousands of employees and the employees of the security services and Alپeshmrگh areas in the Nineveh Plain, who get paid by the province of Kurdistan.

Says the owner of a factory Furniture and Household Furniture named Dlazar Najjar, in an interview with "Twilight News" that our work linked to the basis of the availability of financial liquidity, explaining they are buying lumber, nails, glue and fabric Aldouchmh and make crews and home furniture, bedrooms and sell installments comfortable.

He adds that their workers are paid on a weekly basis, and they have to meet the deadlines for payment of the premium financial implications of them to the big dealers, pointing out that three months ago, the work was progressing normally, because customers and clients mostly from the staff, and they pay the premiums owed ​​to them on a monthly basis with receive their salaries.

He also points out that in the last two months specifically because of confusion embarrassed to work to pay the premiums, and became clients and customers send their apologies via telephone calls, indicating that some of them personally attend to the laboratory to apologize for the non-payment of the monthly premium for the delay in their salaries.

According to Najjar, the continuation of this financial crisis will prompt them to lay off half the workers, technicians, and production will stop for half also say the least.

But Ihsan Maher, employee banking in one of the private sector companies to provide loans to citizens and says "Twilight News" that there are contracts between companies and between the received loans require him to pay the monthly installment with a time limit, and he has to pay what his trust or bear a fine for each day of delay.

He adds that if he could not do so will resort companies to deduct part of the salary of the guarantees under the contract with the customer and his sponsor.

He points out that there is a clear delay in the payment of premiums, compared to previous periods, indicating that the number of delayed payment of its share has increased remarkably in the last two months, adding that he can not help a single, a subsidiary of the private sector.

And the effect that each day of delay will increase the fine to its customers, expressing his regret at the occurrence of such things.

Maher reveals that there is another side to this financial crisis, where there is a sharp decline in the number of applicants to request loans, likely they may fear their inability to fulfill their tuition to pay in light of the volatile financial conditions.

The Kurdistan Regional Government seeks to overcome this crisis without making concessions to the government in Baghdad, where the government secured the March salaries of the past according to the Internal Revenue Service as saying.


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