Announcing that the need of the productive sector to financing in this year is equal to 50 thousand million dollars, he said, “The resource where $15 thousand million from this figure must be provided is not yet clear for us.”
'Mehdi Ghazanfari' said at the ceremony of National Day of Industry and Mine on Saturday, which was held in the presence of First Vice President at Tehran International Fairground: 20 thousand million dollars from the fixed capital is necessary for the construction and completion of half-built projects, according to Public Relations and International Affairs of Iran International Exhibition Company quoted from IRNA.
According to the report, he also said that the production units need 30 thousand dollars of credits for their working capital in the 1391.Stating that the provision of working capital for production units will prevent from the existing process of workers’ unemployment, Ghazanfari added, “If the amount is injected into the production area, we will have good news on the absorption of workers.”
”Calculations show that $22 billion can be provided from the required resources through the National Development Fund and other sectors predicted, without needing to refer to the banks,” he continued. “The banks have provided $13 million as facilities for the production units last year. If we assume that the same loan amount is paid in this year, $35 billion from the resources required for productive sector will be provided in this year,” he said.
Ghazanfari continued, “but a question arises that what financial resources should be considered to provide supply 15 thousand million dollars from the total 50 thousand dollars? “
“The Central Bank, Exchange Organization, and the Ministry of Economy and Finance can assist the Ministry of Industry, Mining and Trade in this regard, “he said.
“As a solution to the provision of 15 thousand million dollars,” he said: “three thousand dollars are to be funded through new methods, and the remaining 12 thousand dollars is to be funded through 37 percent of the resources that were not allocated in contrast to the promise to give them last year.”
The Minister of Industry, Mining and Trade said: “another way is that we look to find facilities or we think of another choice to resolve the chronic disease in the production area.”
According to him, “if we assume that 15 thousand million dollars of the required credits can be allocated in this year through the banking system or exchange or the methods that the production area considers, certainly the objectives of the Year of National Production would be more fully realized.”
He stated that the debt-based financing system, partnership-based financing system, warranty-based financing system, credit scoring system with reduced efficiency by the non-productive methods are the current issues in the field of financing.
According to Ghazanfari, the National Development Fund is placed in the area of debt-based financing to allocate $10 billion for the productive sector. He said: We pursued the participation-based financing system through signing agreements with the Stock Exchange, and we have signed a contract for a warranty-based funding system with Bank Melli and the Department of Warehouses.
He added: statistics show that this sector has profits in this way that if the goods and assets are kept in stock for six months to one year, the profits resulting from inflation will be twice the income of its owner. However, in current situation the productive sector is concerned on how to continue its activities with a profit of 10 to 12 percent.
He said addressing the production-related entrepreneurs: Article 28 of the Budget Act is related to reschedule the debts for industrial units that have many problems, and the units that can pay their debts, should take this action at the nearest opportunity. Such syndromes should be avoided in the productive sector, because they result in failure to return funds to the banks, the Minister of Industry, Mining and Trade added.
Also announcing that a strategic plan for industrial development will be prepared and then unveiled in Mordad, he said: the plan will be fully and finally presented in Shahrivar of this year.
Referring to sanctions against the country, the Minister of Industry, Mining and Trade said: they are helping us reach a non-oil economy by preventing from the purchase of oil from Iran. He also called on manufacturers, chambers of commerce, organizations, houses of industry, mining and trade in order to determine their exports this year by proposing a joint program.