Real Property of the State to be sold through Public Auction: Finance Committee

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The Iraqi Parliamentary Finance Committee has refused the supposed sale of state property to manage the deficit of Iraqi budget 2016.

The committee also received several reports regarding the quality of the state properties for sale because these reports indicated that state property will be sold out at cheaper prices. Some reports also said that a heavy corruption might be expected in the sale of state property. A member of finance committee Majida Al Tamimi said in a press conference that offered real estate property for sale can be sold at lower prices, but it is possible that these real estate properties to be offered for the purpose of investment in order to generate more revenues for the state treasury.

Al Tamimi further added in her press statement that it is not perfect time to sale state properties. She said that these properties can be used for rental purpose; it would attract more international investors in the country. It would also increase the Iraqi dinar investment by opening new doors in the real estate for investment. She added that state property can be sold through public auction. The Chairman of the Committee Nazim Al Saadi said in a press statement that any kind of corruption will not be involved in the sale of real estate because all the measures will be taken according to the law and through public auction transparently. He added that real estate is affiliated to the Finance Ministry and the buildings of  inoperative or expired departments of former regime.

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