TEHRAN, Iran, July 27
Trend:
Trading construction material on the stock exchange has caused the increase of cement price, steel, and rebar, said the Minister of Road and Urban Development.
"Personally I'm against trading construction material in stock exchange since they previously had a traditional distribution network and offering construction material at exchange lead to the dealership, said Mohammad Eslami, Trend reports citing IRNA.
"I have expressed my opposition to the government and hopefully the offering of cement at stock exchange would be prevented soon," he noted.
The official has also indicated that 534,000 housing units are under construction while the first series of Parand housing units will be inaugurated in the next three months.
The Money and Credit Council have approved to increase housing loan for construction from 20 percent to 50 percent.
The Central Bank of Iran has obligated banks to provide $85 million advances for the construction of 1.2 million housing units.