Iraq PM caps Grain Trade Company administrative fee at 6% for new marketing season

BAGHDAD, Iraq — Prime Minister Ali Falih al-Ali al-Zeydi has ordered the General Company for Grain Trade to cap its administrative service fees at no more than 6% from the current marketing season onward, according to a statement from the Prime Minister's Secretariat. The directive sets a new ceiling in place of the existing rate. al-Zeydi issued the order during the sixth regular session of the Council of Ministers. The statement said the company should meet its expenses and the objectives set out under its internal regulations and related legislation through its own revenues, rather than relying on the state treasury. Under the directive, the Grain Trade Company is expected to operate as a self-financing entity without support from the general budget. No further details were immediately available on the implementation timeline or the previous fee rate.