Economics Committee calls to take advantage of the financial crisis and the import on credit
Economics Committee calls to take advantage of the financial crisis and the import on credit
15/04/2013 BAGHDAD / JD / .. called for economic and investment commission in the House of Representatives to take advantage of the financial crisis faced by the major countries and enter into agreements at the level of import countries or companies that payment be processed on credit. The report of the committee obtained by / JD / a copy of it that a large part of the development projects imported components in whole or in part from the outside world, adding that the formula used since the regime change in 2003 was the payment of credit 100% in advance. The report added that in light of the financial crisis faced by the major countries, many projects facing recession in its current activities, pointing out that Iraq could take advantage of this phenomenon and to enter into agreements import level states or companies processed that payment be on credit and sufficiency to pay a certain percentage to exceed 50 % of the transaction amount, to pay the remaining amount in cash after the payment deadline, after two years from the date of processing guaranteed by the Central Bank of Iraq or the Ministry of Finance or that the agreement would be that the payment being oil shipments guaranteed by the Iraqi government. The report warned that such a thing is consistent with statements made by the Oil Ministry, which emphasizes increasing oil exports, which helps the state to fulfill its obligations.
