U.S. strives to privatize Iraqi state-owned firms

[NNN0LHI]

http://www.alertnet.org/thenews/newsdesk/N08340607.htm

WASHINGTON, Oct 8 (Reuters) - The U.S. civil administration in Iraq intends early next year to unveil a blueprint for privatizing Iraq's state-owned businesses in a quest to create a thriving capitalist economy, an official said on Wednesday.

Thomas Foley, director of private-sector development for the U.S.-led Coalition Provisional Authority in Iraq, was bullish about getting Iraq's economy back on its feet, but said it was important that corruption be stamped out in Iraqi business.

In a conference call with reporters at the Pentagon, Foley said he hoped to present to the U.S.-appointed Iraqi Governing Council within about five to seven months a proposal on privatizing state-owned businesses. He said he would propose the creation of an Iraqi privatization agency to handle the process of making state-owned companies private.

Foley said his plan would involve about 150 of the 200 state-owned enterprises in Iraq and exclude the oil industry, electricity assets and financial institutions such as state-owned banks and insurance companies.

more

[arcane1]

1. "corruption be stamped out in Iraqi business"

well, selling it all off to BushCo should take care of that :eyes:

[lumpy]

2. Replacing corruption

with more experienced US corruption.

[The Backlash Cometh]

6. Except that, people have a different system of justice in the Middle East.

Somehow I have a feeling that a few of Bushco's cronies will be coming back missing body parts.

[Gloria]

3. Frankly, if this doesn't piss off a lot of the "fence-sitter" Iraqis who

think the US is their deliverance, then I don't know what will...

[Cocoa]

4. Is Tom Foley an Iraqi?

his name sounds Irish to me. Shouldn't this be a decision made by the Iraqis?

[NNN0LHI]

5. Need to get Ralph Reed over there to do some grassroots work on this nt

[ConcernedCanuk]

7. ___"privatize" - is that sorta like "stealing" ??___

Howcome do I think that "privatize" means that the businesses will end up in the USA's hands?

Right - the Iraqis wouldn't know what to do with all that money from their OIL

Better off to let the BFEE handle it -

NO apologies for my sarcasm

VERY Pissed Off Canuk

[teryang]

8. Maybe they'll borrow money from the World Bank too!

And be ordered about by the WTO and GATS.

[TahitiNut]

9. dupe

See http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=156780

I'm locking this thread. Interested DUers are welcome to continue discussing this in the referenced thread.

Thank you for your understanding and cooperation,
TahitiNut - DU moderator