TEHRAN- At the 134th meeting of the Government-Private Sector Dialogue Council, while elaborating on some details regarding the implementation of the launch of the negotiated foreign currency exchange market and moving toward a single exchange rate, discussions were also held concerning the poor performance of active systems in the business environment. It was decided that, with the follow-up of the Ministry of Economy, the reorganization of these systems would be implemented with the aim of facilitating affairs.

At the beginning, Samad Hassanzadeh, the head of the Iran Chamber of commerce, Industries, Mines, and Agriculture (ICCIMA) and the secretary of the Government-Private Sector Dialogue Council, spoke about economic developments, concerns, and ambiguities that have arisen for the private sector, and emphasized: “The private sector expects special support from the government. On the other hand, explanations must be provided regarding the government's decisions to address the problems and protests we have witnessed in order to clear up the ambiguities.”

He continued: “People's livelihoods have become difficult, and the people need calm, trust, and hope. On the other hand, we must note that we are in the middle of Dey month (around early January) and are close to the end of the year, and economic enterprises must pay and settle their obligations. This issue has caused serious concerns. Some of these units are facing problems in paying their obligations, employee salaries, and other costs.”

Hassanzadeh called for achieving peace of mind in society through timely measures in the economic arena by the government and responsible bodies.

Unification of first and second forex markets and creation of a negotiated market

Meanwhile, Ali Madanizadeh, the Minister of Economy and Head of the Government-Private Sector Dialogue Council, first apologized for not being able to attend the two previous meetings and their cancellation. Regarding the state of foreign currency revenues, the necessity of moving towards a single exchange rate, and how to make a decision to move towards creating a negotiated foreign currency exchange market, he said: “Implementing this policy in practice means that the first and second forex markets will merge and the negotiated foreign currency exchange market will be formed. The claims of enterprises from the government will also be precisely calculated and paid by the Auditing Organization of the Ministry of Economy. Of course, a schedule for the payment of claims will also be announced.”

He continued: “A 17-item program has been formulated to implement the policy of a single forex rate and will be implemented with priority given to supplying essential goods, working capital for units, and currency allocation. Additionally, increasing the capital of Bank Keshavarzi to provide working capital will be implemented in the coming days.”

Madanizadeh added: “Based on calculations and based on the livelihood basket of middle deciles, we have determined the amount of subsidy that should be paid to cover the difference resulting from the single exchange rate. Therefore, we will cover the difference arising from the liberalization of the exchange rate by paying subsidies and preserve purchasing power.

The Minister of Economy continued: Decisions related to this area are reviewed and made in the operations room.”

MA