Baghdad: Prime Minister Mohammed Shia al-Sudani confirmed that the “Construction Basket” will provide building materials to citizens at competitive prices and convenient installments.
According to National Iraqi News Agency, a statement from the Prime Minister’s Office revealed that Al-Sudani inaugurated the Construction Cooperation Center, known as the Construction Basket, on Wednesday. This initiative, carried out by the General Company for Construction Materials Trade at the Ministry of Trade, is a partnership with the private sector aimed at revitalizing the local construction industry.
Al-Sudani commended the Ministry of Trade and the project leaders for their substantial efforts in promoting Iraqi products. He emphasized the importance of the “Made in Iraq” initiative as a means to restore the prestige of the national industry. The Prime Minister highlighted the ongoing revolution in the construction sector, which encompasses projects managed by both ministries and state institutions, as well as investment-level endeavors.
The initiative is set to support specific groups, including retirees, individuals covered by the social protection network, martyrs’ families, and employees. These groups will have access to a range of construction materials at competitive prices and through convenient installment plans. Al-Sudani also instructed that a workshop be convened among relevant authorities to devise a strategy that will allow citizens to acquire loans and building permits, ensuring they can procure necessary construction materials.
Al-Sudani outlined the government’s cooperative approach, noting that the public sector’s involvement in price control began with food products through hypermarkets. The initiative now extends to the construction basket, thanks to collaboration between the public and private sectors. The project aims to deliver construction materials at competitive prices that adhere to Iraqi standard specifications, while also facilitating investment in approximately one million housing units.
Moreover, the Prime Minister stressed the provision of sovereign guarantees for the private sector, particularly prioritizing industrial sectors. He mentioned the availability of facilities for private sector investors engaged in constructing various factories. Ongoing coordination with the Federation of Industries and Federation of Contractors underscores the private sector’s role as a key partner in fulfilling local market needs and creating job opportunities.
Al-Sudani concluded by announcing plans to expand this initiative to other governorates, starting with Nineveh and Basra, marking a significant step in enhancing Iraq’s construction landscape.