Sunday, March 20, 2011

Visual calls to revive the law of development banks, the regions and governorates

BAGHDAD - Yasser incumbent 
Re-economic expert, Dr. Kamal Al-Basri to mind the idea of ​​establishing regional development banks, which began within the budget year 2006.
This came in a statement singled out Al-Sabah promised to delay the establishment of these banks one of the main reasons for the delay the development of infrastructure for basic projects in the provinces.
He said: expression of the faith the new Iraq to the principle of decentralization in the administration of the provinces, in order to raise the efficiency of performance and to give opportunity to the provinces to contribute to the achievement of development, was the enactment of the regions and provinces in 2006. For the purpose of activating the principles that are enshrined in the law and to promote regional development, a law was passed the federal budget for 2006 the creation of three development banks with an initial capital of $ 500 million can be increased. Paid by the Ministry of Finance three years and represents the contribution of the regions and provinces in the capital and in the future be financed through the issuance of bonds and loans from domestic and international markets as well as borrowing from the coffers of the regions and governorates.  
Basri said that the aim of establishing such banks is to mobilize the available resources in the regions and the provinces and support councils to fund specific projects without the need to return to the state budget. And can operate these banks on the basis of partnership between the provincial governments and provincial councils and the private sector or foreign investors. Promised the establishment of these banks, in addition to the provincial development programs will be important step towards the promotion and development of regional development and the distribution of the fruits of development equitably among Iraq's regions and reduce the disparity in standard of living of citizens in all of Iraq.
He pointed out that the law of the provinces and territories a lot of powers to the provinces, hoping to reduce the reliance of provinces on the central government in the implementation of investment projects. To activate the law in practice require the provision of financial allocations to the provinces, where the allocations of the federal budget for the limited needs, came the initiative of the Ministry of Finance Anzlk establishment of investment banks referred to. However, this project despite the utmost importance had not seen the light and waiting to start implementation. Payment enactment of a law that decentralized management without working to provide the funding mechanism, like someone who wants to fly with one wing, which is closer to the "made in the sea Moktova and told him Eyak to get wet with water." According to visual   
He admitted that the experience of provincial experience stuttering, but that failure does not mean lack of importance and being conducted by the promising, pointing out that factors found many of them non-reform of the governmental action cumbersome, not accompanied by the development of skills and managerial competencies, the lack of customizations necessary time needed. And will continue these obstacles if not addressed now. The problem is not as some believe it's just financial corruption, but is the result of administrative corruption of the absence of sound economic planning, and the absence of the individual in the right place and then not being able to deliver. 
Promise of the work of banks as the financial heart of the cash flow necessary to feed the development projects. Provinces and will remain handicapped in its work and is unable to complete the projects of basic services: Kalmsakn, schools, sanitation projects, roads and bridges ... Etc., as long as banks continued to lose hydration necessary to fill the financial gap. Basri said: It's time for the central government to contribute to the formation of capital, development banks through customizations directly to these banks and through allocations of aspiring "petro dollars" and it's time to invest any amount of other "surplus" is dedicated (as may be deemed to quotas for the sons of the provinces in the capital of these banks ).  
 You can not imagine a development that meets the needs of the people without functioning financial institutions. Have revealed the daily practices of the existence of bottlenecks in performance due to stalled development flow of financial liquidity. 
 There is obstruction to hire investment firms to build projects vital to the livelihood of the citizen, because of the absence of banks through which or through contract.
He said that is reflected in the media recently and the tongue of the government that there is a tendency for the distribution of the fiscal surplus achieved this year on the citizens, reflects, in my view the policy is "to buy fish instead of investing in the catch." 
 Rather, thinking that the intensification of soft loans to the private sector in both its agricultural and industrial, which if we can increase production and employment. And ask at the end of his speech, saying: Why did not originate these banks, and if there is a patchwork What are the obstacles these obstacles? Who is responsible for preventing a law was enacted in 2006, and who is responsible for depriving the provinces to finance their investment projects.
  With the government executive and legislative branch is responsible for the absence of this law, the oversight institutions also bear the responsibility and Altnnnbh Althdhir negligent act of the law began to serve the general public http://www.alsabaah.com/ArticleShow.aspx?ID=4432

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