New Scheme offers Iraqis Affordable Building Materials
By John Lee.
Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the new 'Construction Basket' initiative on Wednesday, an innovative programme designed to provide citizens with access to building materials at competitive prices and on convenient instalment terms.
The centre, located at the newly-opened Cooperation Center for Construction , is a joint venture between the Ministry of Commerce's General Company for Trading in Construction Materials and the private sector.
In his remarks, Al-Sudani praised the Ministry's efforts and underlined the significance of promoting locally made products, reaffirming that "Made in Iraq" is a strategic direction to revitalise national industry. He highlighted that Iraq's construction sector is undergoing a major transformation across government, institutional, and investment-driven projects.
Key highlights of the Prime Minister's announcement include: Targeted support for retirees, families on the social protection network, relatives of martyrs, and employees.
A directive to establish a mechanism linking loans and construction permits with access to subsidised construction materials.
An emphasis on using cooperative models to regulate material prices through public-private collaboration-similar to the earlier food-focused Hypermarket initiative.
Availability of building materials that meet Iraqi standard specifications at reduced prices.
Approval of investment permits for around one million residential units, alongside initiatives through the Housing Fund and Real Estate Bank.
Prioritisation of industrial zones and investment facilitation for private sector-led manufacturing projects.
Ongoing coordination with the Union of Industries and the Union of Contractors.
A commitment to expanding the initiative, starting with Nineveh and Basra governorates.
Al-Sudani reaffirmed the government's stance that the private sector is a critical partner in satisfying domestic market demand and creating employment for Iraqi youth.
(Source: Media Office of the Prime Minister) Tags: Basra News, building materials, cg, Construction Basket initiative, Cooperation Center for Construction, Economic Development, featured, General Company for Trading in Construction Materials, Housing, Loans, MSMEs, Nineveh, private sector
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