Employment plan lags in Iran

Iran Materials 2 December 2011 18:16 (UTC +04:00)

Azerbaijan, Baku, Dec. 2 / Trend M. Moezzi/

About 65,000 jobs were created in Iran's mines and industries in the first half of this year, ISNA cited Iran's Minister of Industry, Mines and Trade Mehdi Ghazanfari as saying.

The Ministry of Industry, Mines and Trade has a task to create 600,000 jobs this year (Iran's solar year ends on March 20). Even if the number of the created jobs is doubled to 130,000 by the end of the year, it will be far below the target that Iran has set.

Taking into account the uncertainty about funding for the National Development Fund, it is possible that the job creation program will not be completed this year.

According to the Article 84 of the fifth five-year Socio Economic Development Plan (2011-2015), the National Development Fund was established to transform oil and gas revenues to productive investments for future generation.

Accordingly, 20 percent of oil income is to be transferred to the National Development Fund, and also at least 20 percent of the NDF's sum should be allocated to promote foreign investment.

A total of 20 percent of the assets of the National Development Fund is planned for assigning to foreign investors, the head of the National Development Fund Rahim Qorbani said earlier. There will be no problem in issuing the funds if the foreign investors decide to act as partners Qorbani said.