Issawi: Ministry of Industry is a burden on the economy and we have 60 losing company

has become a burden on the Iraqi economy.

Issawi, said at a press conference attended by "Shafaq News", that " the industry’s situation in Iraq today is in decline and has led the Iraqi people turn to a consumer on one hand, and to a country with a bad economy on the other hand."

He added that "the state has spent on the ministry until 2014, about 15 billion Iraqi dinars, without achieving a clear progress in the field of national industry," noting that "the ministry companies are 71 different company with different specialties unable to provide their employees' salaries."

Issawi said that "60 of these companies are losing and in debt , in light of the flow of hard currency out of the country," explaining that "the ministry aims to create a real and effective national industry economically through the ministry and all the companies from the public and private sectors."

He added that "our budget for 2015, amounts to 110 billion Iraqi dinars are not enough to create a single modern and sophisticated factory," persisting "This matter requires the participation of Arab and foreign private sector directly, or through the Iraqi investors who invite them to obtain agencies or branches of the specialized and solid companies in various fields.

Issawi said that "mismanagement in the previous governments led to a heavy legacy of negatives on the shoulders of the ministry," stressing that "domestic production cannot currently meet the requirements of the Iraqi market, and thus impose duties on foreign production."

He added that "the issue of non-receipt of some staff for their salaries caused the lack of liquidity in the banks, and we submitted this matter in the cabinet meeting."

Issawi said that "ISIS organization took advantage of some of the producing plants, and forced the staff to carry out their work", adding that "this matter is up to the security forces."

He revealed, "Changes made in the Department of the Inspector General ", stressing that "the ministry will not tolerate in any case of corruption."