Tehran Times Economic Desk

@H= Private sector takes over agro irrigation network
TEHRAN – Deputy to Iran’s Ministry of Agricultural Jihad Industries Affairs and Infrastructure Department here on Sunday stated that all interactions related to equipping and maintaining the agricultural irrigation network will be transferred to the private sector.
“This transfer will be in line with implementing article 44 of the Constitution and modifying the country’s irrigation system,” Farid Ejlali explained, Mehr reported.
He made clear a reduction in the government’s tenure over this section, an increase in production, and a decrease in costs were some of the benefits of this project.
--------------Industry and Mine Bank capital increase by $1.5b
TEHRAN – Industry and Mine Bank Managing Director Mohammad-Reza Pishro said here on Sunday that $1.5 billion had been added to this banks capital.
The money was allocated to the Industry and Mine Bank last year (ended March 19, 2008) from foreign exchange reserves bringing in a four fold potential of about $6 billion, he told Mehr.
Pishro also explained that the bank sought absorbing rial based assets this year.
“In the previous year, the bank because of development activities did not do much to absorb rial based assets, but this year we plan to absorb this type of asset just like commercial banks,” he said.
---------------Abadan customs’ general income tops $5.4m
ABADAN – In the first three months of the current Iranian calendar year (start March 20, 2008) the general income of Abadan customs reached over $5.4 million, Abadan Customs Central Office Caretaker Habib Gale-Dari said on Sunday.
“This shows a three percent increase compared to the same period a year before,” he added, IRNA reported.
“In this period 9,489 tons of various products worth $6,791,329 were exported through this office showing a 51 percent increase in weight and a 56 percent fall of value,” he explained.
He also noted that in this three month period 5,853 tons of various products worth $13,444,566 were imported into the country showing a 37 percent decrease in weight and a 45 percent rise of value.
-----------------Russia asks for more Samands
TEHRAN – Iranian carmaker, Iran Khodro Co.’s sales representatives in Russia have asked this company to increase its Samand model exports to Russia.
According to a report released by Iran Khodro Co. public relations office, the Russian ambassador to Iran Alexander Sadonikov has said that this is the first time that a product manufactured by the Islamic Republic of Iran has faced an overwhelming demand.
“All of the sales representatives in Russia are complaining about shortages of this product for sales,” he said.