Prime Minister Mohammed Shia Al-Sudani stressed the need for the economy to undergo real reforms and the correct direction of resources.
The Prime Minister’s media office stated in a statement that “Prime Minister Mohammed Shia Al-Sudani chaired, today, Monday, a meeting of the Ministerial Council for the Economy, during which the most prominent decisions related to economic affairs were discussed, and work within the framework of the basic determinants for financial and administrative reform included in the government program.”
The meeting hosted a group of businessmen specialized in the oil industry, where Al-Sudani stressed the government’s support for the active private sector, and its belief in its ability to support the Iraqi economy by providing job opportunities, and establishing a national industry that meets the needs of the local market, pointing out that there are practical steps to achieve this support, as it is the only option for the government to cover the needs of citizens, and achieve the
requirements of reconstruction and services, in implementation of the government program.
Al-Sudani stressed “the necessity for private sector companies to adhere to the retirement and social security law for workers; In order to expand their care in this sector, and increase the number of insured persons, stressing the importance of carrying out real reforms, and directing resources in the right direction, so that reliance on oil revenues does not continue as the sole source of income, and meeting the requirements of the operational and investment budget.
The Council discussed the work of the Diwani Order Committee (24573 in 2024) to study the economics of oil and gas in the country, leading to the adoption of showing the real costs along the value chain, according to economic foundations.
During the meeting, it was decided to find a mechanism for marketing oil products expected to increase in the coming years, and to audit the quantities of oil derivatives prepared for factories and plants by the Financi
al Supervision Bureau, as well as to know the size of the current support for factories, and the amount of benefit achieved from it, in addition to evaluating factories according to production capacity and actual production and the extent of compliance with controls.
It was also decided that government support provided to companies would be based on products, the number of insured workers, and the factory’s ability to export according to a specific mechanism, and a committee was formed that includes the Ministries of Oil and Industry and the Investment and National Security Authority to follow up on the work of factories and ensure Information, and it was also decided, during the meeting, to grant brick factories a period of one and a half years to convert their accreditation from black oil to liquefied gas.
Source: National Iraqi News Agency