Iran News ...


9/4/07

Non-oil exports earned Iran $16.3B in 2006

TEHRAN, Sept. 3 (Mehr News Agency) - A Central Bank of Iran (CBI) official announced here on Monday that the non-oil exports fetched Iran $16.3 billion in the first half of last Iranian calendar year (started March 21, 2006).

Attending the Export and Banking Services Conference, the CBI Deputy Governor Mohammad-Ja'far Mojarrad added that the revenue is beyond the figure targeted by the Fourth Five-Year Socioeconomic Plan (2005-2010).

He said that the non-oil exports need to increase to decrease the country's dependence to oil exports.

Non-oil exports will be facilitated when banks and exporters have enough information about their needs, he noted.

Mojarrad added that some $900 million worth of direct facilities was paid to the exporters during 2001-2006, announcing that a $3 billion budget was also earmarked for the Export Development Bank of Iran (EDBI) and Bank of Industry and Mine (BIM) last year.

He obligated the CBI and other banks to reduce bureaucracy and obviate all the limitations in the exports sector in an attempt to encourage exporters.

Mehdi Ghazanfari, the deputy commerce minister, said that the exporters are in desperate need of state support.

Ghazanfari, also the head of Trade Promotion Organization of Iran (TPOI), added that the loans and facilities paid by the government in 2005 were less than the exports volume.

Iran's gas transmission lines to reach 37,000km by 2010

TEHRAN, Sept. 4 (Mehr News Agency) -- Iran's gas transmission lines will span more than 37,000km by the end of Fourth Five-Year Socioeconomic Development Plan, 2010, said the managing director of Iran's Gas Transmission Company here Tuesday.

For the time being there are over 25,000km of transmission lines, Mostafa Kashkuli said, adding every year 2,000km is added to the figure.

Gas pipelines expand in proportion to the country's natural gas consumption and National Iranian Gas Company (NIGC) is to improve production, transmission, and distribution facilities, he said.

Over 2,900km of gas lines was added last year, Kashkuli added.

Iran ceded $2.5b "justice shares" in 2 years

TEHRAN, Sept. 4 (Mehr News Agency) - Iran has delivered 2.5 billion dollars worth of "justice shares" to the underprivileged strata between in 2005 and 2006, first vice president announced here Tuesday.

The value of shares privatized in line with the Article 44 of the Constitution was 3.3 billion dollars in the period, Parviz Davudi added.

The worth of privatization-bound stocks in the 90s amounted to less than one billion dollars, whereas the figure surged to more than 2 billion dollars during 2001-2005, said the official.

Iran's ICCIM calls for banking system revision

TEHRAN, Sept. 3 (Mehr News Agency) - Iran needs to revise its banking system and strategy on relations with overseas rivals, Iran's Chamber of Commerce, Industries, and Mines (ICCIM) head said here Monday.

Addressing the Assembly of Banking Services and Exports, Mohammad Nahavandian added it is impossible to have an unconditional presence in global markets without adopting a proper strategy and holding negotiations.

"We'd better create a monitored rivalry in our backyard, are Iranian banks keen on competing on the international scene," he proposed.

Nahavandian also turned to importance of cooperation between banks and exporters, underlining that banks fail to make great strides toward rendering services to exporters unless they play the role of exporters.

He concluded that Iran is duty-bound to support national institutes to facilitate their presence in international markets.

On the sidelines of the assembly, Mohammad-Ja'far Mojarrad, the Central Bank of Iran (CBI) deputy governor for foreign exchange affairs, announced that Iran's overseas activities are not limited to cooperation with a few foreign banks, adding, "We are merged in the global market."

He added foreign banks will start work in Iran in the near future.

Asked about the reserve of Oil Stabilization Fund (OSF), Mojarrad estimated the fund has about 6.3 billion dollars.

... Payvand News - 9/4/07 ... --



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