View Full Version : Babylon officials holding banks responsible for project delays and overruns on laws

Hue Mi
02-19-2014, 08:01 PM
Babylon officials holding banks responsible for project delays and overruns on the laws (http://8th-day.com/archives/34904)


Agency day 8
February 19, 2014
18 read
Baghdad ((today))

Download officials in Babil province private banks and governmental responsibility for project delays and overruns on laws in order to get customers."

He said Deputy Governor of Babylon for technical affairs Moussa Omran mamory: local government, both the Executive and the legislature have close relationship with the banks 18, distributed throughout the province, stating that "most of the projects are linked to private banks, giving letters of guarantee for the contractor and financial efficiency.

"All the banks in the province provide the contractor with the letters of guarantee, but in fact has no cash has led to delays in projects and the accumulation of problems since 2008 until now, project contractors reluctant forced to mortgage their properties to get liquidity to complete projects in time ends the financial benefits and the benefits and problems."

"Akram revealed reluctance of 150 projects in Babylon at a cost exceeding 224 billion dinars, he attributed the causes of the lack of liquidity and override the private banks to get customers," Noting that "most contractors in Babylon entered jail for inability to pay their debts and 35 contractor."

However, "the most important project that led to the withdrawal of the work and the contractor, the lack of liquidity of the provincial Council building, as well as political interventions that led to the delay of the project, calling on the Federal Government to impose strict measures on private banks and Government to curb excesses."

"The final accounts that define the performance of the contractor's work during the years prior to the implementation of government contracts that her Ministry, which confirmed the final accounts for each contractor over 3 years, what is happening at the moment falsifying accounts by contractors in cooperation with business." I ended up with.