This article is about some info on the Budget 2015

Saadi: the budget lacks the signal for industrial lending
   

6/1/2015 0:00

Included agricultural, real estate and housing loans
  BAGHDAD - Mustafa al-Hashemi


President of the Iraqi Federation of Industries Ali al-Saadi said that the financial challenges faced by the country due to low global crude oil prices, should be pushing for activating the private industrial sector.

  Pointing to the importance that the paragraphs of the budget for next year include supports recycling industrial production wheel.

He added in an interview with "morning" that the budget in 2015, which are discussed on the platform of parliament tomorrow, did not address the lending to the private industrial sector, where he was in the budget of 2015 and in Article (17) - (i) be borrowing from the Agricultural Bank and the Bank of the real estate and housing fund interest rate of 2 percent , pointing out that the lack of reference to lending to the industrial sector needs to review an order for its importance in economic development.

He noted that the draft budget text of the law to be exempted from the fees of all goods and imported goods by government departments and the public sector in its name and use, did not mention the exemption of incoming raw materials in industrial production and manufactured materials half imported by the private industrial sector of the fees and customs, which is the most important important axis in the activation of the local industrial production.

Saadi said: The draft text of the law to bind the federal ministries buying needs of ministries products without mentioning oblige ministries to buy from private industry products, similar to purchasing from the federal ministries, despite the presence of a decision of the Commission of the private sector affairs at the Council of Ministers, headed by Deputy Prime Minister Ruz Nuri Hoyes the need for fair competition between public and private sector.

He stressed the importance of allocating funds in the budget for the year 2015 to cover the interest owed by industrialists euro loans and Development Fund, which was awarded in mid-2002 and that the decision of the Commission on Private Sector Affairs at the Council of Ministers, especially the origin of the debt of the euro is less than five million euros and Development Fund is up to five million dollars.

He called al-Saadi to allocate funds in the budget for the year 2015 to cover the private industrial sector dues owed by the state before the year 2003, which is also the decision of the Commission of the private sector affairs at the Council of Ministers and this (debt) to the industrial sector's owed by the government since eleven years.

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