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NewsKarbasian Calls for Greater Private Sector Cooperation

Karbasian Calls for Greater Private Sector Cooperation

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Managing Director of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has called on the private sector to deal with the issue of sanctions more offensively and more seriously.
He said: “The private sector and economic activists should not remain inactive and wait to see what measures the government would take to encounter the economic sanctions. Rather, they should act based on their obligations in this field.”
Dr. Karbasian said IMIDRO is faced with some $7 billion worth of semi-finished projects while there is no budget for it. The deputy industry, mine and trade minister added: “Our income resources in IMIDRO have virtually been eliminated.”
Elsewhere in his remarks, chairman of IMIDRO Management Board referred to the recent decisions of the 11th government which led to directive and legislation and said one of the serious legislations was on the return to the development areas of financial resources obtained through 70% of privatization.
He added: “Among other cases considered in the amendment of the budget for the year 1392 (started March 21, 2013) is that supportive institutions such as the insurance fund and exploration areas would be assisted out of the government rights over mines.”
Addressing economic activists who were present in the session of industry and mines commission of Tehran Chamber, Karbasian said: “The 11th government has so far shown that it is specially counting on the assistance and cooperation of the private sector and appointment of the chairman of Iran Chamber of Commerce as the presidential chief of staff is a proof to this statement.
“Therefore, statesmen as well as I myself expect activists in the economic field not to limit themselves to the recent approvals of the government and by offering assistance and suggestions to the government and ministries, accompany the 11th government in the difficult path it has ahead of it.”
He referred to liquidity as another problem of the mining sector and said: “In order to remove this important difficulty, all should join hands to put facilities (bank loans) at proper rates, not at 26% and 27%, at the disposal of entrepreneurs.
To this end, both the government and the private sector should put their ideas together and come to some results so that banking facilities would be put at the disposal of those active in the mining sector with proper repayment deadline and minimum advance payment.