The Iraqi Council of Ministers recently approved a contract with the Mass Holding Company to supply electrical energy to the northern region and the national system for three months. This decision was made in response to the high demand for electricity during the summer peak load and in accordance with financial regulations. The current power outage in Iraq has been a source of frustration for citizens, especially with the extreme heat in some cities and governorates.
In addition, the Council also authorized another contract with Kar Company to supply electrical energy from Turkey at a reduced price for three months. This decision was made to address the increased demand for electricity during the summer months. Furthermore, the Minister of Finance has been authorized to sign a financing loan agreement for the development of electricity production stations in various locations.
The Prime Minister’s media office issued a statement highlighting the importance of accelerating plans for the development of the electricity sector. The Council also approved the inclusion of contracted projects as ongoing projects to facilitate the signing of loan agreements and ensure timely completion. This decision was based on approval borrowing in the Federal General Budget Law for