Iran needs over $238b for realizing ‘Surge in Production’: fin min

May 12, 2020 - 14:19

TEHRAN – Iranian Finance and Economic Affairs Minister Farhad Dejpasand said the country needs at least 10 quadrillion rials (nearly $238.1 billion) to realize the motto of “Surge in Production”, Tasnim news agency reported on Tuesday.

Speaking in the 94th meeting of the government-private sector dialogue council, Dejpasand underlined the important role of the private sector in developing domestic production and noted that public, private, and cooperative sectors all could play an important role in this regard.

As reported, the problems of the exporters in relation to the Central Bank of Iran (CBI)’s decisions regarding the reinjection of foreign revenues from exports to the domestic Forex Management Integrated System (locally known as NIMA) was one of the major issues discussed at the mentioned meeting.

Emphasizing the need for achieving acceptable economic growth in the current Iranian calendar year (started on March 20), the official expressed appreciation for the determination and efforts of the private sector in joining the capital market and said: "We hope that arrangements will be made so that every week at least one large private company offers its shares on the stock exchange."

Iran is following a comprehensive program for rising capital through attracting public resources into the stock market, so the government has been encouraging bot private sector and state-owned companies to offer their shares in the country’s stock market.

In early March, Dejpasand said offering the shares of state-owned companies, which are planned to be privatized, would be sped up.

The minister further highlighted that Iran’s stock market is reaching its real status, adding, “People are gradually getting acquainted with the capital market’s potential and welcoming it.”

Iranian President Hassan Rouhani has also stressed the need for the expansion of the privatization program.

Speaking in a meeting of the government economic coordination headquarters, on April 21, Rouhani called for more government-owned companies and big enterprises to be listed on the stock market.


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