Monday, December 08, 2003

War profits

Fares Mohamad feels like a guest in his own country. There are so many places that he is now not allowed to go to.

“I can't go to Rasheed Hotel but the [Halliburton subsidiary] KBR (Kellogg Brown Root) people can just walk in. I can't go to the presidential palace but again the KBR people can simply walk in.

“Do they own the country now?” he asked.

Fares' resentment is typical of Iraqis who are keeping a close watch on the US company which seems to have its hands in everything in the so-called rebuilding of Iraq.

The feeling here is that KBR is making tons of money off Iraq.

So he is more than angry that the contract to renovate the schools [damaged or destroyed by in the war] has been given to KBR.

“KBR is charging Iraq US$180,000 (RM684,000) for each school they renovate. They then give the project to Iraqi sub-contractors and pay them just US$20,000 (RM76,000) to do the job.

“So KBR netts US$160,000 (RM608,000) just like that. KBR is getting everything. You know, of course, they are connected to the higher-ups in Washington. So what do you want me to think?” he said.

... The old Iraqi constitution under Saddam Hussein outlaws key state assets from being privatised and foreigners from owning Iraqi firms.

But with Order 39, some 200 state companies will now be privatised.

Foreign companies can now have full ownership of Iraqi banks, factories, mines and other assets and move 100% of their profits out of Iraq.

A number of international law experts have questioned whether Order 39 is legal.


  article

....but hey, do what you want....you will anyway.

No comments:

Post a Comment

Comments are moderated. There may be some delay before your comment is published. It all depends on how much time M has in the day. But please comment!