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Deputy Industry Minister Commends NPC for Expanding Credit Sales

Deputy Industry Minister Commends NPC for Expanding Credit Sales
(Tuesday, June 11, 2024) 14:25

TEHRAN, June 10 (NIPNA) - Deputy Minister of Industry, Mine and Trade, Alireza Shahmirzaei, praised the National Petrochemical Company (NPC) for its significant efforts in promoting credit-based sales of petrochemical products. Speaking at the inaugural National Conference on Credit Sales of Petrochemical Products on Monday, Shahmirzaei highlighted the positive impact of these initiatives on the downstream industries.

Shahmirzaei noted that the NPC's approach should be extended to other industries, emphasizing its effectiveness. "Last year, the total value of Gharz-al-Hasna bonds was 100 trillion rials ($10 billion), whereas the petrochemical sector alone achieved 800 trillion rials ($80 billion) in credit sales in 2023, which is a remarkable figure," he stated.

The Deputy Minister of Commerce and Services at the Ministry of Industry, Mine and Trade underscored the importance of completing the value chain. He stated, "Chain financing implemented by the 13th government is the best strategy for increasing production."

Shahmirzaei also emphasized the need to enhance purchasing power alongside production growth. "To sustain this growth, we must ensure that the increase in production is matched by an increase in purchasing power," he concluded.

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