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Privatization, partnership and liquidation .. Iraq follows Egypt in restructuring the losing state companies DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Privatization, partnership and liquidation .. Iraq follows Egypt in restructuring the losing state companies

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Privatization, partnership and liquidation .. Iraq follows Egypt in restructuring the losing state companies Empty Privatization, partnership and liquidation .. Iraq follows Egypt in restructuring the losing state companies

Post by claud39 Sun Apr 18, 2021 2:16 pm

Privatization, partnership and liquidation .. Iraq follows Egypt in restructuring the losing state companies




April 18, 2021





Privatization, partnership and liquidation .. Iraq follows Egypt in restructuring the losing state companies 1024










Mubasher: Mazhar Muhammad Salih, the financial advisor to the Iraqi prime minister, outlined, today, Sunday, the measures that the government applies to resolving and resolving the situations of losing state companies.




Saleh said in a statement to the Iraqi News Agency (INA) that "there is an approach in the white paper for economic reform towards establishing a partnership between the state and the private sector or joint operation of stalled or stalled and viable state-owned companies."




He added, "This approach calls for converting these companies into public joint-stock companies by changing the pattern of ownership, but under the administration of the state, or liquidating the losing companies completely when the loss is repeated more than once and for long periods and also by dealing with what is confirmed by the auditor's report when auditing the financial statements. The annual company itself does so based on the same law. "




The financial advisor emphasized that "the law also granted full authority to the Council of Ministers to liquidate those companies and to act on their fate as well as to operate, invest and develop them."




Earlier, the financial advisor to the prime minister said that 72 percent of state-owned companies are losing money.




"Saleh" stated that out of the 173 public or state-owned companies, only 28 percent work and make a profit, and the rest 72 percent are losing companies, explaining that there are nearly 400,000 workers who receive monthly grants in the form of salaries without performing productive work for eighteen years. .




The financial advisor to the Iraqi prime minister added that, since 2003, the production activity of the government sector has been subject to stoppage and neglect, and that more than 20 percent of those companies have been removed from existence because of the wars.




Saleh pointed out that the profitable public companies are those that are linked to the rentier activity of the oil sector and that enjoy quasi-monopolistic advantages in obtaining raw materials and marketing the product and prices, which makes them profitable and they are profitable operations surrounded by a lot of support, stressing that workers and employees do not bear the reason for negligence and neglect in Economic policy based on oil and neglect of any other resource.






In Egypt, the Ministry of Public Business Sector adopted a new policy to save state companies from the clutches of accumulated losses through several mechanisms by opening the door to management and operation for the private sector, or the participation of local and foreign investors in new projects with state-owned assets, as well as developing work systems and mechanisms in losing companies, especially In the industrial sector.




And recently, the Ministry of the Public Business Sector in Egypt adopted a decision to liquidate the Egyptian Iron and Steel Company after its capital eroded and attempts to rescue it failed more than once.




The Egyptian Minister of Business Sector Hisham Tawfiq stated, more than once, that the Ministry of Public Enterprise Sector is interested in expanding the base of its partners from the private sector in a large number of fields, and that it continues to offer appropriate investment opportunities for partnerships.




https://www.mubasher.info/news/3794917/%D8%AE%D8%B5%D8%AE%D8%B5%D8%A9-%D9%88%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D9%88%D8%AA%D8%B5%D9%81%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B3%D9%8A%D8%B1-%D8%B9%D9%84%D9%89-%D9%85%D8%B5%D8%B1-%D9%81%D9%8A-%D9%87%D9%8A%D9%83%D9%84%D8%A9-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B3%D8%B1%D8%A9/
claud39
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