Thread: Archive Latest News - Think Tank - 03/11/07 - 31/12/07

Industry is rehabilitating 21 inoperative companies
Within its plan for 2008

The Ministry of Industry and Minerals formed an emergency operation room headed by the minister to study and follow-up requirements of the investment plan for the coming year.

Official source in the ministry said in a press statement that the mission of the emergency operation room also includes supervising the rehabilitation of 21 companies, affiliated to the ministry, nominated to achieve self-sufficiency to them in 2010. These companies include: the General Company for Petrochemical Industries, Iron and Steel, Phosphate and Fertilizers, Diyala and Al-Faris companies, Mechanical Engineering Industries and the companies of the textile sector. The nomination of these companies was due to the large numbers of workers as well as the exploitation of national natural resources in production and the clear and quick economic returns they achieve. He pointed out that the ministry selected these companies because operating them supports and provides the raw materials, equipments and the required machinery for the production of those companies, and one of the important projects covered by the draft plan is iron and steel industry which experts consider as the pillar for the building and development of heavy industries, and the existence of such industries is a standard reflects the technological and economic progress of nations. He stressed that iron and steel industry is one of the basic industries that provide materials required for other industries and to meet the needs and requirements of economic development. The idea of iron and steel project and benefiting from the ruins of iron and steel in the country, started first in Iraq... This industry will raise the value of rubble after conversion into steel products five times the original price and this has a great benefit for national wealth. Figures of the industrial survey showed that the Iron and Steel Project in Basrah had produced 300 tons in 1970, 450 tons in 1975, and more than 500 tons in 1980; the need for iron and steel reached more than ¾ million in 1985, and most of the required quantity of iron and steel in Iraq is construction bars, which comprise 70% of the quantities listed. The production of the Iron and Steel Project varied to include most of the important materials used in construction.

Another important project covered by the investment plan for the coming year is the textile industry sector. This sector includes textile industry, woolen and silk textile, medical cotton industry, jute industry and weaving. Textile industry is one of the oldest and most important industries in Iraq because the raw materials like, cotton, leather and wool are available in addition to the availability of industrial expertise and the local market in addition to its economic and social benefits… It is the most important industry that absorbs a lot of manpower and attracts individual and private capitals as well as investments, which is why most of the technology in the industry enterprises in this sector belongs to the private sector.

There are many textile industry companies such as: the Company of Spinning and Weaving in Mosul, founded in 1957 at a cost of $ 3.5 million dinars at the time, the Public National Company for Fabric, founded in 1970, and it includes a jute factory, mechanical-made carpets factory and another one for hand-made carpets. There is also the Public Company for Cotton Fabric in Kut, which includes two main factories: one for spinning and supplying, and the second for weaving and stockings; later, both factories were merged because they complete each other and for increasing production.

The investment plan also covered the metal products industry which includes: household tools, metal and aluminum furniture, nails, steel products and telecommunications industry, spare parts and batteries, machinery industry and electrical appliances, heaters and refrigerators and many others.

Industry is rehabilitating 21 inoperative companies | Iraq Updates

PM says Government resolved to realize Economic Achievements

Prime Minister Nouri al-Maliki on Wednesday said that the Iraqi government is resolved to realize economic achievements next year after the success realized in the security field.

This came during his meeting with General George Casey, the U.S. army chief of staff.

"There is a significant political and economic development in Iraq now," the premier also said in a statement released by his office and received by the independent news agency Voices of Iraq (VOI).

"Our armed forces are now able to face challenges and maintain security in the country and we seek to develop their capabilities," he also said.
"The Iraqi government is resolved to realize economic and constructional achievements in the coming stage," he asserted.

For his part, General Casey praised the development of Iraqi armed forces' capabilities, reiterating his country's support to the Iraqi government.

The general was the commander of the Multinational forces in Iraq till last February, when General David Petraeus replaced him.
PM says government resolved to realize economic achievements | Iraq Updates

US Congress Passes Budget With Funding for Iraq War

The U.S. House of Representatives has passed a massive spending bill for the 2008 fiscal year that includes $70 billion to fund U.S. military operations in Afghanistan and Iraq.By a vote of 272 to 142, lawmakers Wednesday voted in favor of the legislation that the Senate cleared late Tuesday. The $555 billion bill now goes to President Bush for his expected signature, more than two months after the fiscal year started.

Approval of the budget - which includes $70 billion for the wars in Iraq and Afghanistan - ends a year-long battle between Republican and Democratic lawmakers over U.S. spending priorities.

Democrats won control of Congress in elections last November and announced a goal of bringing U.S. troops home from Iraq. They also had plans to boost domestic spending by $22 billion.

But President Bush threatened to veto any spending bill that contained a timetable for U.S. troop withdrawals, and Democrats were unable to muster enough votes to override the threatened veto.

Democratic Senate Majority leader Harry Reid conceded that Republicans won this political battle, and he called it a loss for the American people.
"And while they win their so-called battle of obstruction, American people are losing," he said. "Millions of low-income children don't have access to health care, less police officers on the street, less funding to find cures for dread disease. What we have is Republicans digging in their heels for the status quo."

Republicans had long insisted on a spending bill that funds the war in Iraq without mentioning a timetable for withdrawal. Republican Senator Jon Kyl said the bill is crucial to U.S. troops.

"First of all, it sends a message to our troops that we support them," he said. "There's been a little confusion about that, and given the fact that the Petraeus plan has had such great success in bringing violence down and bringing control of the country much more along the lines that the United States would like to see and our allies there, it is a way to say to the troops we appreciate what you have done and we are not going to pull the rug out from under you."

The half-a-trillion-dollar appropriations bill combines funding for all government departments except defense, covering housing, law enforcement and transport. Although they were unable to fund many of their favorite projects, Democrats did manage to include about $11 billion in spending for health care for veterans, drought relief, firefighting and border security.

The White House has said it will sign the bill if it contains funding for Iraq.

PUKmedia :: English - US Congress Passes Budget With Funding for Iraq War

UN extends Foreign Forces mandate in Iraq

Thursday, December 20, 2007 08:25 GMT

Upon the request of Iraq’s government to extend the mandate of multinational forces and after the security progress attained in addition to the reduction of violence in Iraq, the UN Security Council voted unanimously to extend the U.S.-led multinational force in Iraq for one year. US Ambassador to the United Nations Zalmay Khalilzad announced that the United States welcomes the adoption of such a resolution, pointing to major and positive developments in Iraq especially reduction of violence. “The United States is proud of its role in helping Iraq combat the challenges of terrorism and other violence”, Khalilzad said.
US troops are expected to remain in Iraq after the end of 2008, when the UN mandate will expire, but Baghdad wants to change the terms of their presence so that it will be based on bilateral agreements under discussion with Washington. Iraq has said this is the last time it will request an extension of the U.N. mandate for foreign forces. Iraqi Ambassador to the United Nations Hamid Al Bayati told the UN Security Council that his government has succeeded with the help of multinational forces to slip into civil war, and confront terrorism as well as weakening Al Qaeda.
The Security Council resolution, which was passed unanimously, said it will terminate this mandate earlier if requested by the government of Iraq. It approved as well to extend existing measures for the same period of time regarding depositing revenues of oil and natural gas exports in the account of the Development Fund for Iraq while overseen by the International Found to control and advise on related operations.

1 dinar = 1/1216 of a dollar