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Independency from oil remains just as slogan: Iran official

Oil&Gas Materials 19 January 2019 10:55 (UTC +04:00)

Tehran, Iran, Jan. 18

Trend:

Iran’s policy is to reduce oil dependency and boost non-oil production and exports to confront the US sanctions.

“Saying that there ‘should be oil independency’ is a right thing, but so far it has remained as a slogan and no specific action has been taken,” said the Chairman of Exports Committee of Iran’s Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Adnan Mousapour in an interview with Trend.

“The most obvious example is the ‘Resistance Economy’ document that states in one of its articles that Iran must move from current oil-based economy towards exports-based economy. But in past two years, there have been more obstacles for exports rather than them being boosted,” he said.

The official noted: “The suggestion to improve non-oil exports is that the government should look at the economic challenges from the viewpoint of private sector.”

“The government should put the private sector on its priority. The government should consult with the private sector before making decisions, and not like the foreign exchange rules that were decided first and then consulted with the private sector.”

The foreign exchange rules oblige the Iranian exporters to return their foreign currency revenues to the NIMA system or sell them to the banks designated by the Central Bank of Iran. The foreign exchange policy aims to control transactions and prevent further devaluation of national currency.

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