Over $4b to back domestic production
Iran has paid some $4.09 billion from the Forex Fund reserves as the revolving capital to support domestic producers.
The facilities have been given to 904 manufacturing units mainly in weaving and leather, electronics, mining, metal and non-metal industries, MOJ news agency reported.
Based on a cabinet''s approval which was ratified in mid-June 2009, $5 billion should be allocated to help expand domestic industries.
The Iranian administration has previously approved the allocation of $3 billion to provide non-governmental producers (including the private and the cooperative sectors) with their required capital to import raw materials and machinery.
According to the Constitution, the economy of Iran consists of three sectors: state, cooperative, and private. The state sector is to include all large-scale industries, foreign trade, major minerals, banking, insurance, radio and television, aviation and transportation.
The cooperative sector includes cooperative companies and enterprises concerned with production and distribution, in urban and rural areas, in accordance with Islamic criteria.
The private sector consists of those activities concerned with construction, agriculture, animal husbandry, industry, trade, and services that supplement the economic activities of the state and cooperative sectors.