Tag Archives | privatisation

KRG "to Privatise Electricity Sector"

By John Lee. Kurdistan's Council of Ministers has reportedly approved a proposal from the KRG's Ministry of Electricity to privatize the Region's electricity sector. Ministry official Mohammed Ahmed told Rudaw on Wednesday: "The government and the people will both benefit from it as it will help reduce a significant amount of stolen electricity." More here. […]

Iraq to Privatise Govt's Two Largest Banks

Shafaaq News reports that the Central Bank of Iraq (CBI) has announced its intention to privatize the two largest banks in the country. It quotes CBI Governor Ali al-Alaq as saying: "The bank's management is moving to privatize al-Rafidain and al-Rasheed Banks or participate with the private sector ... the move is being coordinated with […]

Privatisation Opportunities to Continue in Iraq

One striking characteristic of business in Iraq is the extent of state-ownership of enterprise and assets. Mudher Kasim, a senior advisor to Iraq's Central Bank, claimed that “the problem in Iraq is that 90 percent of the wealth of the nation is in the hands of the government. So centralism always dominates the mindset everywhere”. […]

Privatisation is the Way Forward

An Iraqi economic expert said on Thursday that the Iraqi government should embark on a privatization program to improve the state of industry in the country. Fadhel Al-Moussawi told AKnews, "The Iraqi government has not been successful in improving the country's industrial conditions in the past several years due to the reluctance and lack of […]

Iraq Needs Private Cash

“The problem in Iraq is that 90 percent of the wealth of the nation is in the hands of the government. So centralism always dominates the mindset everywhere,” The economy is still largely disconnected from the global financial system and is dominated by oil.