Iraq has decided to get tough against contractors who fail to complete projects on time as the OPEC member is pushing ahead with a massive post-war rebuilding plan, the official Iraqi daily Alsabah said on Tuesday. 

Contractors found to have executed not more than 35% of the project by its deadline will have their contract terminated, the paper said, quoting Suha Najjar, chairperson of the state National Investment Commission. 

Najjar said a committee formed recently to examine delayed projects would recommend measures against contractors who fail to deliver projects on time. 

“Contracts awarded to contractors will be withdrawn from them in case the project execution rate does not exceed 35 percent by its deadline,” she said. 

“We believe that this decision will help in distinguishing between serious and failing contractors, who take advantage of incentives granted by the government, mainly tax exemptions and reduction in labour visa fees….we want to stop those faltering contractors who have only obstructed the investment drive in Iraq.” 

(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@refinitiv.com)

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