The economic committee headed by Deputy Prime Minister Ruz Nuri Shaways Achieved several achievements during the first half of the year 2012 the most prominent study of all economic agreements with the countries of the world and related projects studying the current budget, investment and everything related to the amounts reserves and the additional cost of projects outside the powers of the ministries and provinces and verification and validation them.
This was announced by The Director General of the Economic Committee, to (Al-Sabah newspaper) explaining that the passage of the strategic crop prices as well as many other economic decisions.
He noted that the decisions of the Economic Committee, which includes the ministers of finance, trade, oil, industry, agriculture and the heads of the Investment Authority, Office of Financial Supervision and the Central Bank of Iraq in addition to the legal adviser to the Prime Minister and Associate Secretary General for Finance and Economic Advisor in the Office of the Prime Minister shall be bound to the ministries.
He said the tasks of this Commission is the suggestion and the formulation of the foundations of economic and financial policy of the state and determines the means of implementation and to overcome difficulties and solve problems facing their implementation.
He pointed out that the Director-General of the Economic Commission tended to activate the role of the private sector, through the formation of a committee for the private sector to involve them in decision-making and drawing a map of the Iraqi economy has met this Committee as part of seeking to develop a strategy to support the private sector.
He reiterated the Director-General to talk about the achievements, including decisions to raise capital of the Industrial Bank to 150 billion dinars in order to strengthen the financing needs of the private sector and facilitate the procedures of granting loans, taking into account appropriate collateral requirements with streamline to grant the loan to the approval of the allocation amounts of annual budgets, the next to develop and support sector private sectors.
The Economic Commission is heading to create a bank mixed with input from private banks and government and branches of foreign banks and a capital appropriate depends founded international banking modern banking foreign trade and techniques of modern banking is also seeking the Economic Committee to the establishment of a joint venture to secure loans and purchase loans of doubtful and bad because of their impact encouraging a policy of lending in the future.
He hinted at the conclusion of his speech to the Economic Commission in connection with the ratification of the decision of the organization of import under licenses awarded by the Ministry of Commerce issued new instructions and the Organization about it over the Internet to control breaches of some of the traders to currency auction and success in meeting the real needs of the traders to maintain the strength of the Iraqi dinar.