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NPC Eyes Revolution in Petchem Units with Credit Supply Strategy

NPC Eyes Revolution in Petchem Units with Credit Supply Strategy
(Monday, February 5, 2024) 16:45

TEHRAN (NIPNA) -- The representative of the First Vice President in launching and operationalizing the economic revitalization movement stated that a revolutionary surge in the prosperity of production units has emerged through the credit supply strategy of the National Petrochemical Company (NPC).

The Deputy for Rural Development and Deprived Areas of the country, and the representative of the First Vice President in the launch and operationalization of the economic revitalization movement, highlighted the challenges of securing raw materials in the country's production units.

He mentioned that due to the shortage of capital in the lower-tier production units, the National Petrochemical Industries Company, by using the credit supply strategy for its products, has initiated a revolution in the path of business prosperity in both active and semi-idle production units.

Referring to the effective support and role of the NPC with a focus on managing the development of downstream industries in reviving production units and semi-idle units, the representative stated, "In the thirteenth government, the National Petrochemical Company, for the first time, pursued two important approaches in the field of developing downstream and complementary industries. The first step was identifying the biggest problem in complementary industries, and the second step was presenting credit sales solutions to boost production units."

He added, "Credit supply for petrochemical products was implemented for the first time in the thirteenth government, leading to an increase in market supply from 100 billion to 7 trillion Tomans."

He continued, "Social responsibility is not only limited to constructing residential homes and schools in deprived areas and environments around petrochemical industries. The revitalization of production units and semi-idle units, creating jobs for thousands of people, is a mission in the direction of significant social responsibility."

The credit supply strategy for petrochemical products began in the last Persian month (February-March) under the management and follow-up of Engineer Shahmirzai, the Deputy Minister of Petroleum and CEO of the National Petrochemical Company, in the commodity exchange market. Currently, 64 petrochemical companies offer their products on credit in the stock market.

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