CoI : Director General of Central Markets complains of different obstacles and predicts new polices beyond fiscal deficit.
May 30 , 2013

DG of the central markets general company has complained deferent impediments and obstacles prevent the return of movement and life to commercial marketing outlets paralyzed many years ago.
In interview with the COI performance assessment team, the company Director General stated, that one of those obstacles is the company’s failure to open letters of credit for applying contracts of import due to the continuity restrictions procedures acting under seventh chapter of UN charter which were imposed on Iraq under International sanctions after Saddam’s regime’s entry into Kuwait 1990.
He mentioned that the company has IQD (11) billion, and it has the ability to activate its commercial activities unless imposing such international restrictions.
DG talked about other internal problems such as obsession of some governmental bodies of the company properties especially Baghdad province and Baghdad mayoralty in addition to failure to reach agreement for compromising of the company’s properties in Kurdistan region despite the continued addresses in this matter between the general secretariat of the council of ministers and commercial and finance ministries.

He said that the jurisdiction is still dealing with the circumstances of Al- Mnsour central market investment by one of UAE companies which violated the investment contract terms.
He gave part of the responsibility on Public Tax Authority (PTA) mentioning that most of the central market obstacles connected by dealing with PTA are still exist especially including the failure to facilitate dealing procedures with the foreign companies and the delay in providing tax discharge and weak coordination in this area with both sides.

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