Iranian government to barter debts of private companies
TEHRAN, Iran, Aug.4
The government would barter its debts to private sector by debts of private companies to administrative bodies, first Vice President of Iran Eshagh Jahangiri said, Trend reports citing IRNA.
The cabinet has approved that it would barter $11-million debt of Parehsar Power Plant Company, a subsidiary of MAPNA group, to Iran Customs Administration with its own debt to the private company.
The government will also barter $1.4-million debt of Fars Gas Power Plant Company, a subsidiary of Thermal Power Plant Holding, to Iran Customs Administration, said the report.
In addition, the debts of Fars Gas Power Plant Company and South Isfahan Power Plant Company in the amount of $95 million to the Iranian National Tax Administration will be bartered with government debt to these companies.
Iran's Plan and Budget Organization has approved the debt bartering plan in last Iranian year (started March 21, 2019). It allows the government to swap its debts to cooperatives and private firms with debts of the private sector to administrative bodies, banks and credit institutions.