Committee on Economic Affairs raises the ceiling of documentary credit with private banks

Baghdad - INA Ministerial Committee on Economic Affairs decided on Tuesday to increase the ceiling of government documentary credits with private private banks to 50 million dollars instead of 30 million without the need to broker the Iraqi Trade Bank. A statement received by the Iraqi News Agency (INA) that the Committee also decided at its 25th meeting held on Tuesday under the chairmanship of the Minister of Planning Dr. Salman Jumaili, to agree to compensate the amounts of commissions resulting from the extension and strengthening documentary credits. The committee also decided to "exclude the Foundation of martyrs to contract with the former engineering consultancy for the project of desalination and water purification and bottling in the province of Basra and the amount does not exceed 50 million dinars because the project provides clean water to large segments of the people of the province. On the other hand, the Ministerial Committee on Economic Affairs recommended that the Cabinet approve the exemption of plastic granules from customs duties to zero in order to encourage local industry in this field. The statement added that the committee agreed to rework for the company executing the project to establish a sports hall capacity of 7000 spectators within the youth city in Baghdad . adding that another decision issued by the Committee to increase the total cost of the project to establish the Civil Status Department in the western table in Karbala province , As well as another decision to exclude the Ministry of Higher Education and Research of the controls to pay the dues of the company executing the processing of the University of Kufa Internet service. Translated by Harith.A.Hasan