Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

CBI’s dollar sales higher on Sunday

Demand for the dollar rose in the Central Bank of Iraq’s (CBI) auction on Sunday, reaching $164.815 compared to $129.156 million in the previous session.

“The demand hit $31.900 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $132.915 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 14 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=114951

Inflation rate down by 1.2 % in May- COSIT

Iraq’s inflation rate fell by 1.2 percent in May 2009 compared to the previous month, according to the Central Organization for Statistics and Information Technology (COSIT).

“The results showed a 1.2 percent decrease in the inflation rate for May 2009, which it linked to a reduction in the consumer price index (CPI),” according to a statement received by Aswat al-Iraq news agency.

Prices of foodstuffs, furniture, fuel and lighting, transport services, which form 73.3 percent of household expenditure, have decreased by 3.5, 1.0, 0.7, and 3.2 percent respectively, the report indicated.

Meanwhile, prices of tobacco and beverages; apparel, cloth and footwear; medicines and medical services; and other services, which form only 15.2 percent of household expenditure, have increased by 1.1, 1.6, 0.5 and 0.2 percent respectively, the report explained.

The report also showed a 5.6 percent drop in the annual inflation rate in the period May 2008- May 2009.

The COSIT, affiliated with the Iraqi Ministry of Planning and Development Cooperation, produces a monthly report on inflation in Iraq, which is based on field data of retail prices for products and services in Iraqi markets.

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U.S. company to conduct oil well project in Amara

A $224.4 million oil well drilling project in Amara city has been referred to a U.S. company, the director general of Missan Oil Company said on Saturday.

"The Iraqi cabinet has agreed to refer a project to drill 20 oil wells in al-Bazrakan field (75 km east of Amara) to Weatherford," Ali Maarij told Aswat al-Iraq news agency.

The estimated completion period of the project is 24 months, Maarji explained.

"A contract will soon be signed with the U.S. company as part of a new plan by the Oil Ministry to increase the productivity of the newly established Missan Oil Company," he added.

The production capacity of the province's oilfields is ranging between 100,000 and 110,000 barrels per day (bpd). The city's geographical location boasts six producing oilfields: al-Bazrakan, Abu Gharb, al-Fakka, al-Halfaya and al-Amara, in addition to the Majnoon field, shared with the South Oil Company.

The city also has five explored non-producing fields: al-Huwayza, al-Rafie, Rafidain al-Sharqi, al-Dujaila and Kemit.

http://www.zawya.com/Story.cfm/sidZA...t%20in%20Amara

Likely to postpone the referendum on the security agreement between Baghdad and Washington

An Iraqi parliamentary sources said a referendum on the popular security agreement concluded between Baghdad and Washington to be the end of next month for reasons of «delayed the adoption of legislation on the referendum and to reduce the expenses of the State»,

With warned «Accordance Front» against the postponement of the referendum and has accused the Electoral Commission of succumbing to political pressure to block the referendum.

The Electoral Commission called for parliament to speed up the legislation for a referendum on the security agreement between Iraq and the United States, which was approved by parliament in November (November) last year, and it needs to be confirmed 60 days after the law was approved to complete the preparations for the referendum process.

But a member of the Legal Committee of Parliament on «the Supreme Islamic Council» Iman al-Asadi told «life» that «the Presidency of the parliament rejected the referendum bill prepared by the Committee at its last meeting which included representatives of parliamentary blocs last week,» she said «preferred to wait for the Presidency of law proposed by the Council of Ministers and ratified by the State Consultative Council, which means wasting more time that in addition to the violation of the Rules of Procedure which states that the preparation of draft laws is a prerogative of the Legal Committee ».

Asadi said that «the Electoral Commission has through its legal committee with the fear of delayed approval of the necessary legislation for the referendum, said it needs 60 days, at least to undertake the technical preparations in the light of the law Headquarters».

Likely Asadi «a popular referendum on the security agreement in conjunction with the forthcoming parliamentary elections, as requested by the government in an attempt to cut expenditure and effort».

The Iraqi government announced the allocation of 100 million dollars for a referendum, but they expressed their desire to postpone the scheduled next month to the date for legislative elections in January (January) next year to save time and money, but the parliamentary blocs expressed strong opposition to the postponement of the referendum.

He drew from the Attorney «Accordance Front,» Ahmed al-Alwani in contact with the «life» to «there is political pressure to disrupt the referendum on the security agreement, for reasons related to the interests of some parties» and expressed the belief that «the Electoral Commission does not need 60 days after the adoption of the law» and said that «All this time is very exaggerated, registers voters, and the necessary funds in place, and the adoption of the Code will be in parliament soon, but doubts remain approximately techniques is the work of UNHCR, which we believe it is incorrect and will be questioned on this basis, the Office».

He said al-Alwani, «we have agreed to the security agreement provided for a referendum around, which means that the masses that voted on the agreement had been deceived» He added that «the United States fears a referendum at the present time because it knows full well that it did not help Iraq failed to emerge from Chapter VII so far and believes that the Iraqis would reject the agreement ».

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Basra will be one of the leading cities of the oil production

West Qurna in the area of that region, which was close to the time of Balbrdi coated and sugar cane and warm water will set the new point to a considerable evolution of the era of Iraq's oil industry, where the company launched the first tower of the big dig deep, drawn-fold, which was completed deep drilling operations in the past and the new tower, which launched its activities a few days ago, told a group of specialists and visitors present were the eyes of tears by the de guerre, Tears of joy for nowhere else have made their own experiences of Iraq and its efforts this remarkable achievement and gives great hope to expand to become the Iraqi Drilling Company, one of the most prominent companies in the region in the area of excavation and research in the reservoir in search of land being abundant.

The company has developed the model in these operations, and succeeded in addressing the challenges of strong companies in this area and entered the field of competition, especially with the company of interest to the oil sector and the government to develop their potential and make a match and surpass those in the region.

Director-General of the Iraqi Drilling Company Yasiri Mohsen Al Idriss said in an interview for the morning: that the company has made important achievements today are able to reclaim (561) oil wells, most of which were unprepared for the production of which now give the equivalent of (750) thousand barrels per day and most important is that that enabled the reclamation of the oil sector will continue to produce and that the financial allocations earmarked by the government of the company and the amount of (700) million dollars to become all the new rigs and sophisticated work of the company jumped to very advanced level of the company were not only has four drilling towers, but today only to have the (35 ) of the drilling tower, which is not owned by major companies in the region has managed the company during the past two years to expand its work thanks to the efforts and perseverance of the specialized technical cadre.

Yasiri, he added that the new towers that we have the completion of the first tower of which is one of the towers of global technology that changed the course of work in an integrated way and the tower of one of them is equivalent to 6 towers old and we have now modern towers (23) tower of a newly developed possibilities of where our company will be after all these developments may make the quality of recorded jumps of the most important national companies in the Middle East and in the training of specialized cadres, said the Director-General: We have an ongoing program of training and contracting with companies send their experts to Iraq to train Iraqi cadres and operation of the monument and we are involved in the recruitment and training process to absorb the first unemployment and develop the potential of working in various areas.

* Are there any agreements with international companies in the area of drilling?

* We have an agreement with a British company to provide (12) new towers over the next two years and that is what contributes to the process of drilling, where drilling continues to mean that the sustainability of production and the escalation of oil and Tairh and increased amount.

On the same level, said Fred Eng Khaled al-Associate Director of the drilling operations of the South Branch of the new tower, which recently opened a smaller-scale towers and productive in a series of towers which are currently carried out by the company with modern technology and are the latest drilling techniques that focus globally Valabrasz within the new project is different competencies and sophisticated range costs between 15 to 18 million dollars and will be completed (20) towers over this year to be one of Basra, the main oil-producing cities in the coming years, especially that the company also continues to sustain the rehabilitation of the towers of the escalation of production and new Valabrasz produce the equivalent of (16) a barrel Beer of the day instead of one (2000) barrels a day earlier and towers equipped with the new company (Drlmik) Italian specialized in this area.

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Oil Ministry .. The pursuit of the great shame if

Still all the reports so far indicate that the oil ministry is going ahead with plans to open the first session of the contract in the oil extraction sector, which will include producing fields, mainly after the investment was more than eight billion dollars in Iraqi funds from the investment to increase production of these fields, most of which is classified as a giant fields.

These include the round of eight fields of oil and gas fields are Rumaila North and South, Kirkuk, Zubair, West Qurna, Fakkah, Abu Ghraib, Bazargan, Bai Hassan, a crutch, and Mansourieh is expected to announce the names of the foreign companies winning contracts to develop these fields, on 29-30 of June. But what is striking is the insistence of the Ministry of Oil to continue in this path even though the majority of Iraqis and foreign experts on the illegality of such contracts, in addition to the damage it will inflict grave economic interests of Iraq.

With regard to the legal aspect, we refer only to the opinion of a group of Iraqi legal experts, who confirmed in a report published in the Al-Sabah newspaper on 6-20-2009 that such a giant foreign investment must be linked to the text of the new Iraqi constitution, a federal law with the legislation of the oil and gas as a general rule, or if the basis of previous laws that are still valid, it is necessary to seek a special law in all new contracts through the approval of the Iraqi Council of Representatives for each contract, which refuses to play by the Ministry of oil so far, claiming that the approval of the Minister sufficient to be considered the legality of these contracts are legal, and this is clearly a blatant violation of the constitution the Council of Ministers because the Ka is known, on the ****utive authorities in the new Iraq, and the House of Representatives is the sole legislative powers, which has a law or amend legislation, including the the Constitution itself.

The Iraqi legal experts also said the oil ministry could not Stumping on the basis of previous laws, even if the legal force of such laws as the same condition originally a special law for each case of a contract or agreement (together with the decisions of the dissolved Revolutionary Command Council) in order to approve such an as the final contract, and that the current Iraqi Council of Representatives has been entrusted by the Constitution under the new law all the powers of legislation, we must secure the permission of the House of Representatives approval of any new contract and the Oil Ministry intends to sign with foreign oil companies.

As for the suitability of these contracts for Iraq's economic interests is sufficient to say that more than 90% of the experts and advisers, and technicians of the Ministry of the oil itself as well as to the Commission on oil and gas in the parliament and former minister of oil in Iraq, all opposed to the ministry in this regard to see a real waste of the wealth of the Iraqi people which so far has not seen the best of this fine, despite the promises of wealth and dumped in the communications media optimism issued by the Ministry of Oil.

An example is the opposition of senior officials in the Ministry of Oil to the current destructive trend of the ministry's leadership on the issue of a sensitive and serious interests of the Iraqis hit the heart, just below what the new Director-General of the Southern Oil Company, Mr. Fayyad said that the blessing of good in a letter in the June 10 to the Minister of Oil (That "the normative terms of the contract, which was adopted mainly to contract with foreign companies is not in accordance with the laws and legislation in force and the law of preservation of hydrocarbon wealth No. 84 for the year 1985, in addition to non-approval of the majority opinion in the Oil Ministry on these contracts," Mr. Fayyad also opposed the granting of such grace), giant producing fields to foreign companies after the investment of eight thousand million dollars from the Iraqi treasury to the development of these fields the same, which means the loss of the money in the event of these fields to give foreign companies to develop, which is the same object by a large number of House members who will be the Minister of oil to the questioning of an official of the Council next Tuesday, the twenty-third of this month.

Mr. Fayyad said that the blessing of these contracts will develop a series of restrictions and all the joints on the Iraqi economy and independence of the risk of exposure during the period of twenty years to come.

As for Mr. Jabbar Laibi the former Director-General of the Southern Oil Company has provided the same detailed report to the Minister of Oil in the early becoming oil minister warned of the consequences of which continue in the current approach and the proposal for a package of measures to prevent the occurrence of the clutches of Iraq in the current financial crisis. Mr Laibi Alstratejp criticized the absence of vision of the Ministry of Oil that "It's like driving a car without the mandate of meters or indicators in Aldashbol, and if this continued mismanagement of Iraq may be forced to import crude oil from abroad!!"

The struggle of Mr. Kamel Numan, former Director-General of the Southern Oil Company has been expressed in a letter to the Minister of Oil, on February 22, 2009 similar reservations on the mechanism used to develop Iraqi oil fields, especially with regard to the legality of contracts and the standard elements are certainly not in the interest of Iraq because of "a reluctance to work dimensional wire in the financial and administrative aspects of trade and even with regard to human resources."

In an interview with a former Iraqi oil minister Ibrahim Bahr al-Uloum on the same subjects quoted in number of international life in the 6-16-2009 as saying that "the conditions of the contract to be signed by the higher interest of the harmful, and is working on dismantling and fragmentation of the Iraqi oil companies, rather than support the other hand, "said Uloum that the" conditions of the contract with the winning companies represent a dangerous precedent, as it will give these companies a rate of 75 percent of the administration, operation, and Iraq 25 percent, the country loses control over the management of work and investment." He warned that the first round of licensing the results of which will be announced at the end of this month "in Iraq will enter the complexities of economic, political, administrative and social," saying that "the granting of the fields are mainly produced to foreign companies through long-term service contracts lacked the vision and strategy emphasizes the existence of an imbalance in the oil policy and wasted more time and effort and money. "

He asked Mr. Uloum said: "Is it possible to put the oil ministry in a few months, the licensing round to include approximately 80 billion barrels of proven reserves, Iraq in the international market of the 112 billion barrels ... Confirms the absence of investment philosophy, which depends competitiveness and transparency in order to maximize the benefits "

Before all of this form of the Prime Minister himself a high-level commission to study the reasons for the deterioration of the oil industry in Iraq, and presented its report to the President of the Council of Ministers on 1-31-2009 and took up the responsibility of the Ministry of Oil production fell by 400 thousand barrels per day, explaining that because of "lack of role ministry in the field follow up and implement plans and programs with the production companies of extraction, "and the absence of" clear vision of the leadership of the ministry to adopt a specific policy and reluctance to take the appropriate decision."

It is clear that the opinions and objections of the Iraqi oil experts and legal objections in addition to the members of the House of Representatives and former oil ministers, and senior officials present at the Oil Ministry itself, are all in the picture the tragic situation of Iraq's affairs because of failure of the Ministry of Oil in revolutionizing the first national capacities , and the use of foreign expertise to the Court under contractual agreements to ensure the interests of Iraq over the long term and fill some gaps in the technical and managerial capacity of existing national Iraqi.

The question we must ask of any sane person, not to mention the official, who hold public office leader, why does not try for the leadership of the Ministry of Oil present to listen to the views of experts and professionals who have devastated most of the Iraqis in the age of the industry on the strategic dimensions of the serious interests of the country and its future?

Then why this obstinacy Altcabr and without providing reasonable alternatives that can be rallied around all Iraqis Is it permissible in our democratic system that singles out the new one the most serious decisions that concern the vital interests of the people for generations to come?

We call on the Prime Minister to take the initiative and be patient in this matter until it is reasonable to agree on a mechanism that can be rallied around all Iraqis to safeguard the interests of the people who do not think it Siimana waiting for some extra time, rather than mortgage their future for a period of twenty years to come, particularly as it waited for for a period of six years ago did not receive from the Ministry of Oil but promises and delays, festivals of media and public relations.

As for the oil ministry, we say we understand the unquenchable desire to prove they can raise oil output, but it should not be the measure Trqieia at the expense of the interests of our strategic long-term.

The brothers say in the Ministry of Oil, not even the great move towards own guilty. God and Iraq and kept its people.

* Iraqi academic researcher

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Economics: The Director of the Center for Energy Iraq: we report on the consultative legal agreements and contracts of oil and natural gas to the Ministry of

Iraq said the director of the Center for Energy Eng Louay Khatib, the center completed a consultancy study which was submitted to the Commission on oil and natural gas, and on the legal agreements and contracts of oil and gas by the oil ministry, signing the former intends to sign with the future of global corporations.

Khatib expounded that the study was supervised by three experts in constitutional law and international companies. The expert pointed out that the advisory opinion concluded that the legal situation is to invest in Iraq's petroleum resources for the local private sector and foreign, and to participate with others associated with the condition of the permanent constitution with a federal law legislation oil and gas as a general rule, or to invoke the laws in force and the former force, as an exception, provided a special law for each case of a contract.

Khatib said that the statement of the advisory opinion on the text:

According to Iraqi law, which was established under the Iraqi National Oil Company, particularly Acts No. 97 and 123 for the year 1967 which granted the company exclusive (the rights to exploit all the land allotted for its work in accordance with the law) and in the absence of federal law for oil and gas, which should have been made under the Iraqi constitution Permanent may legally contract with the local private sector or foreign bodies and companies, or partnership with others to invest in the oil resources of Iraq, but under a special law issued in each case a contract or agreement passes through the stages of the legislative requirements through any of the House of Representatives of Iraq in particular.

Reinforced by a series of laws on the subject, beginning of Act No. 80 of 1961 and the end of the completion of the nationalized oil company concessions Iraq in 1975, which restricted the private sector domestic and foreign oil and to participate with others to invest in the oil resources of Iraq, but the passing of the law authorizing any contract or agreement in each case separately.

Let the reference to the integration of the Iraqi National Oil Company, Ministry of Oil in the year 1987 under the law 101 of 1975, who organized the work of the Ministry of Oil and Act No. 84 of 1985 (relating to the maintenance of oil wealth) did not change the legal status of any investment for the modification or abolition of laws relating to the limitations contained the right of both the domestic and foreign private investment in the petroleum resources of Iraq and therefore the situation remains as it is has not changed a thing and said that the permanent constitution Pmadte 129, 130 on the existing legislation into force until repealed or amended.

In addition, no no amend or cancel the requirement of this law in cases of contracts with public referred to in the constitutional texts of the interim 1970 1990.

Confirmed by the corpus of the period prior to the year 2003, which remained in force in accordance with Article 61 of the Code of the Coalition Provisional Authority, according to the Iraqi investment law, the Federal 2006 and on the basis as stipulated in the Permanent Constitution of the Republic of Iraq, articles 129 and 130 of the approval for the entry into force of such laws and may not be canceled, but and issued in accordance with the legislation and published in the Official Gazette.

Although the articles 111 and 112 of the Iraqi Constitution in 2005 to provide a constitutional cover to abolish the laws of the pre-2003 era, but those laws are not repealed those laws remained in force and effect and in accordance with the provisions of articles 129 and 130 of the Iraqi Constitution to repeal legislation, but may, in accordance with the laws to be issued later and published in the Official Gazette.

The conclusion which we have listed the legislative texts in force to achieve the following results:

1. Does not allow the Federal Oil Ministry contracts or enter into any agreements to allow the local private sector or foreign investment in oil resources of Iraq, but under federal law for oil and gas in accordance with the permanent constitution of 2005 as a general rule.

2. Aisaf to the Oil Ministry to resort to the former bill of law as a legitimate force, because those other laws are required by law in each case a special contract or agreement (together with the decisions of the dissolved Revolutionary Command Council) for approval, and the mandate of the contracts signed with Lukoil official Lucy. That. me. Norenko CNN and the Chinese. LG. Petrovinam Indian and CNN, and Pertamina of Indonesia.

3. The pursuit of the Oil Ministry to sign the contracts without the cover of constitutional ratification in Parliament is taking the law in each case makes a special ministry in the case of an explicit exit on the Shariah in addition to the constitutional invalidity of such actions from a legal standpoint to lack of legal cover.

4. The Ministry of Oil as part of the E.xecutive branch and on the jurisdiction in this matter suggests that it can not contract in advance.

In summary, this advisory opinion is the legal status of the investment in Iraq's oil resources by domestic and foreign private sectors and to participate with others associated with the Constitution's requirements, including the permanent legislation for a federal oil and gas as a general rule, or to invoke force the previous laws in force, provided an exception in each case the law of particular contracts. In conclusion, it is necessary to initiate the House of Representatives to correct the matter, but is has the full responsibility.

The province of Kurdistan issued a law for the local regional oil and gas in the year 2007.

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Update.......

Central cut interest rates from 9% to 7%, starting from tomorrow

adviser said the Central Bank of Iraq, on Saturday, said the bank decided to reduce the interest rate on loans granted to banks from 9% to 7% starting on Monday.

The appearance of Mohammed Saleh, told Voices of Iraq (VOI) that the central bank "has decided to reduce the interest rate on loans granted by 9% to 7% starting from tomorrow," adding that such a rate "determined by the lending and borrowing of the Central Bank and private banks."

The interest rates offered by the Central Bank amounted to 20% in the year 2007 in order to achieve its monetary policy to tackle inflation, through the withdrawal of liquidity, which triggered widespread criticism of the private sector, who was accused of obstructing the central investment of the high lending rates and the tendency of banks to the deposit of the civil money when in order to obtain high interest rates.

On the non-private banks to reduce interest rates on lending despite successive reductions of interest rates, said a central benefit of the "interest rate, which was granted by the central banks of the civil exceeded 20% last year, and we have begun the reduction in sequential order until we have arrived at a ratio of 7%," adding that "prices did not reduce the usefulness of the same lending rates by banks civil "and noting that the Central Bank" operates in accordance with the freedom of interest rates for private banks to persuade them he is working on reducing the usefulness of dialogue in support of development "and" held meetings to find out the reasons and problems of them not to cut ".

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Iraqi oil industry opposition to auction grows
An Iraqi oil industry revolt against Baghdad's upcoming auction of contracts to develop its prized oil fields widened on Saturday as the head of the country's main oil producing unit proposed an alternative plan.

A petition against the auction by engineers at the state-run South Oil Co., which produces the bulk of Iraqi crude, has ganered 200 signatures, and other workers at the company said they were starting their own petition.

"After finishing both campaigns we will submit the petitions to the prime minister (Nuri al-Maliki) asking him for a chance to develop the oil fields ourselves because we have the experience to develop these fields," said senior South Oil Co. engineer Safaa Zaboun.

South Oil Co. boss Fayad al-Nema upset the Iraqi oil industry last Sunday when he rejected the Oil Ministry's auction of major oil field service deals, which is due to be held over two days at the end of June. This would be the first such auction since the 2003 fall of Saddam Hussein.

The auction is one of two bidding rounds, the first being for contracts to develop Iraq's six largest oil producing fields and two undeveloped gas fields. The second is for non-producing oil and gas fields, to which Nema has no objections.

One of Nema and Zaboun's main objections to the first bidding round is that it involves already producing fields, in which they say Iraq has invested billions of dollars and where Iraqi engineers already have expertise.

Nema told Reuters on Friday that the bidding round should be scrapped. Foreign firms should instead be invited to work on less developed fields using short term technical support; and engineering, procurement and construction (EPC) contracts.

The contracts currently on offer in the first bidding round last 20 years and are more comprehensive.

He suggested only Iraq's super giant Majnoon, Nahr bin Omar and East Baghdad fields be offered, as well as the smaller but also giant al Gharraf, al Nassiriya, Qayara and Balad fields.

"Foreign firms could develop these fields. They could take on all the investment costs and the Iraqi treasury wouldn't have to pay a dollar," Nema said. "There are countries thirsty for Iraqi oil and are ready to shoulder all the investment costs, without Iraq paying a thing."

Deals to develop Iraq's vast oil reserves, the world's third largest, are a huge prize, but the South Oil Co.'s objections have heaped risk on an already shaky venture.

Iraq's hydrocarbon laws, which outline who has the right to exploit its oil and gas, have for years been held up in parliament due to disputes with Iraq's semi-autonomous Kurdish region, one of the country's two main oil producing areas.

On Thursday the northern region's natural resources minister reconfirmed his rejection of the Oil Ministry's contracts, which he said the Kurds had not been consulted on, even though they involve fields in areas disputed by Kurds, Arabs and Turkmen.

He warned that oil firms would be hamstrung if they attempted to work in those fields without Kurdish approval.

The South Oil Co.'s objections mean foreign firms also face the prospect of uncooperative partners in the Iraq's south, home to the bulk of Iraqi reserves.

http://www.arabianbusiness.com/55941...auction-widens

"Industry" has achieved a rate of 22% invested and 29% of capacity in 2009

A source at the Ministry of Information Industry and Minerals, on Sunday, the companies of the ministry was able to invest 29% of the rate of energy and development and has a total of 22% during the first quarter of 2009 compared with this same period of last year.

The source told Voices of Iraq (VOI) to the Under-Secretary for Corporate Affairs Mohamed Abdullah al-Ani, "presided over a meeting to discuss the productivity and financial indicators of the Ministry during the first quarter of this year compared to last year," he said, noting that the meeting which was attended by managers of the industrial sectors in the ministry, "the review of the report prepared by the Economic Department in the Ministry's investigations on the production and availability of energy at the level of 75 sectors of production and service companies as well as the rates of development and decline, and many other things."

The companies that the ministry had made "according to the report is the economic rate of 47% of the planned production rates and 50% in real terms," stating that it "was able to invest 29% of the capacity available, while the percentage of the overall development of the Ministry of 22% during the first quarter of the year being compared with the same period last year."

The industrial services sector, "characterized by its evolution at a rate 383% have been investigated by the General Company for Industrial Design and Consulting best achievement", he said, "as crafted by the textile sector has accounted for 63% of chemical industry sector to achieve the proportion of 32% and then the engineering and construction sectors."

The sector in the food and pharmaceutical industries have been "made public the company for the manufacture of medicines and medical supplies in Samarra was the evolution of the proportion of 50% and achieved a public company for the dairy industry, the proportion of 20%."

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