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A Call to the Government to re-launch the financial dialogue on new foundations

2012-06-05

Businessmen and representatives of the private sector in Palestine emphasized that the government should re-launch the financial dialogue on new basses, based on a partnership between all parties, leading to a fair treatment of the financial crisis. That was held during a meeting in Ramallah by the Union Metal for Forming & Engineering Industries, sponsored by PADICO holding ", on the sidelines of a meeting of the general assembly of the Union.

The Executive Chairman of "PADICO holding" Samir Hulileh reported that the financial crisis in 2012 is growing more than he expected, and increasing  without any limitations from the foreign aid funds and everyone should realize his responsibilities."He added: with low growth and rising budget deficit in any State, the natural solution is pumping large quantities of cash in the economy but the debt load is the contrary, what is needed now is to convert this path, if there are extra fees, it must be stopped, it is inconceivable to have a Government that is greater than the economy itself. "He graduated to dramatic growth, and continued in the Gaza Strip as a result of some facilities that were introduced since mid last year on the movement of goods and start implementing some of the projects financed by international institutions, he said "our mission this year is to rescue the economy of the West Bank, and one way to achieve this is to support the local product ".

He said that the new Government faced a difficult period after suffering for a long period of the quarrellings that hampered its services to the private sector. "I think that the presence of the Minister of a national economy will help resolve this crisis without the private sector fully paid the price. Then he said that "PADICO holding is investing in every place in the West Bank and Gaza Strip, including in Jerusalem, but we are still so far looking for genuine partnership in Hebron in critical areas and quality, this was our interest in this special meeting with the Union Metal for Forming & Engineering Industries.From his part Hulileh Demanded the General Director of the Palestinian Banking Corporation Dr. Amin Hadad and the Prime Minister Dr. Salam Fayyad to "re-launching the economic and financial dialogue on a base full of partnership and resilience. He added that this financial dialogue is not over yet, and we didn"t reach for the results, and the private sector reaffirmed that we did not reach to an agreement with the Government and the other partners.

The Chairman of "Massar International" showed a brief about "Siraj Investment Fund", that was launched by the company last year with local partners, Arab and international, its objectives and the investments that entered so far is welcomed by any partnership in the mineral industry and engineering. The size of the Fund amounted of $ 90 million, 20 million from local investors represented of Arab investors, and $20 million from other international investors, in addition to a loan of $30 million by the Overseas Private Investment Corporation OPEC. Al Masri reported that "the difference between the Fund and any other investment is Limited to the duration of the investment between 5 and 7 years, and this is important for the Palestinian companies which is mostly belongs to individuals or families ".

 

 

 

 


 

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