The use of US advisers to restructure the sector "spinning and weaving"

Economy and stock exchange

Rasha Omar, Undersecretary of the Ministry of Public Business Sector and head of the Central Administration for Asset Management, confirmed that a US consultant has been hired and a study has been prepared to develop and structure textile factories and promote the industry and the sector again.

The Ministry of Public Works said that the study is being carried out by developing looms and utilizing untapped assets to generate the necessary financial resources for development, pointing out that the spinning and weaving sector was achieving losses estimated at 2.2 billion pounds annually.

Dr. Hussain Issa, Chairman of the House Budget and Budget Committee, explained that for many years the public sector followed the Ministry of Industry, followed by investment, and then the Ministry of Public Works was established.

Issa pointed out that there are a similar number of holding companies following ministries other than the Ministry of Public Sector. Some suggested that the holding companies should be included in one ministry, the Ministry of Public Works Sector, or vice versa. And the abolition of the Ministry of Business, saying "different regulatory visions."

"The biggest challenge for the Ministry of Public Works is that big companies such as spinning, weaving, iron and steel are suffering losses from more than 30 years of losses," said Hussein Issa. "The losses of major companies and distressed sectors must be finished for more than 30 years."

This came during the meeting of the Committee of Plan and Budget, which is now held in the House of Representatives to discuss the budget of the Ministry of Public Works Sector and its affiliates for the fiscal year 2019/2020 and budget programs and performance of the ministry for the same year.

Ministry of Business