Iraqi cement-makers angry at fuel subsidy cut by AFP Staff Writers Baghdad (AFP) Sept 21, 2021 Iraq's association of cement manufacturers on Tuesday slammed a government decision to reduce subsidises on fuel for the sector, warning the move risks factory closures and cement price increases. The oil ministry earlier this month raised the price of fuel sold to cement manufactures from 150 dinars per litre (around 10 cents) to 250, following on from a previous hike earlier in the year. The measure caused industry outrage in the crisis-hit country, where some regions are still waiting for costly post-war reconstruction. "The cement industry is the only one that has been self-sufficient from 2016 until now and hasn't raised prices," Ammar al-Saadi, deputy director of the cement manufacturers' association, told AFP on Tuesday. He said public and private activity in the sector employed almost 50,000 people directly or indirectly, from factory workers to truck drivers. The association warned of "enormous losses" in the sector, calling on authorities to reverse the decision. Cement manufacturers will have to choose between "closures, which would lead to thousands of lay-offs... or an increase in the sale price of cement to at least $10 a tonne," a statement from the association said. "That would increase the burden for the population and the state, which is embarking upon the reconstruction of the country and wants to develop infrastructure projects." The subsidised fuel price for cement manufacturers was originally approved in exchange for their commitment to cap the price of cement. "The decision will lead to an additional cost of 35 million euros ($41 million) per year, which could lead to heavy losses for the business," said Adham al-Sharkawy, head of Lafarge Iraq. He said the measure could threaten more than a thousand jobs if the firm is unable to pay salaries. Iraq is the number two oil producer in the Organization of the Petroleum Exporting Countries and almost all of its revenues come from the sector. Authorities say they want to diversify the economy to reduce their dependence on the sector. ak/tgg/hj/lg/dwo
Iran oil minister appoints envoy for Iraqi affairs Tehran (AFP) Sept 21, 2021 Iran's oil minister has appointed a special envoy for Iraqi affairs, a first for the Islamic republic which is seeking $5 billion in arrears from its neighbour for gas exports. The ministry's Shana news agency said Oil Minister Javad Owji had tasked Abbas Beheshti with "endeavouring to speed up settling gas export claims". Iraq buys gas and electricity from Iran to supply about a third of its power sector, which has been worn down by years of conflict and poor maintenance. Despite sanctions ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |