A Kiss of Life for TCDD, which damaged 16 Billion

The 'bag' law proposal, which includes regulations in the economy, foresees critical changes from mega projects to SEEs, from Iller Bank to municipalities

SÖZCÜ has scrutinized the Law Proposal on Amending Some Laws and Decree Laws submitted by the AKP deputies to the Turkish Grand National Assembly. Here are the highlights from the regulation:

I DON'T DO IT
Contractors are given the right to terminate or transfer depending on the approval of the administration, in order to ensure that major projects and public services are not interrupted and the resulting grievances are eliminated due to unexpected price increases. Contracts which are awarded and continuing as of the date of entry into force of this regulation, will be terminated or transferred within 60 days after the date of entry into force of the contractor depending on the written application of the contractor and the approval of the administration. In this case, the restrictions and sanctions arising from termination and transfer will not be applied except for the condition of seeking the conditions in the first tender. Contractor of the contract terminated or the contract will be returned to the contractor's return.

LIFE KISS TO TCDD, WHICH DAMAGES 16 BILLION
State Railways of the Republic of Turkey, noted for its high-speed train investment (TCDD) a total balance sheet losses with the 2016 loss of 2.5 billion pounds off the past year has reached 16.1 billion pounds. TCDD's investments will be financed by capital transfer from the budget of the Ministry of Treasury and Finance, meeting the funding needs constantly with capital increases made by the Treasury and overseas / guaranteed foreign loans.

TO THE PEOPLE WHO MAKE PROFIT DAMAGES
A striking change is also anticipated for the State Economic Enterprises (SEEs), whose share in production is decreasing due to the wrong policies of the government but the burden on the Treasury is constantly increasing. Accordingly, SEEs will lend money to each other. For example, a profit of TOKI, who hurt poor families assigned to the free distribution of coal could borrow money to Turkey Coal Enterprises.

ILLER BANK'S PROFITS TO AKP'S MUNICIPALITIES
According to the proposal, Iller Bank will use the 51 of its net profit as a grant in support of local government's urban transformation practices, map, zoning plan, infrastructure and superstructure projects and the financing of the construction works of these projects.

JURISDICTION TO THE PRESIDENT OF THE PRESIDENT
In order to realize the investment projects required by the municipalities, the President shall be authorized to provide the benefit to the municipalities upon the request of the municipalities.

Source : www.sozcu.com.tr