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At least 80% of Iran’s industrial units closed, semi-closed

At least 80% of Iran’s industrial units closed, semi-closed

Belarus delegation visits Azerbaijan State Oil and Industrial University (30 November 2016 21:46)

Date: 21 December 2015 23:37

Baku, Azerbaijan, Dec. 21

By Fatih Karimov - Trend:

Almost 80 percent of the industrial units in Iran are closed or semi-closed, Mehdi Pourghazi, head of the industrial committee of the Tehran Chamber of Commerce said.

Some 30 percent of the industrial units in the country are closed, Pourghazi said, Iranian semi-official Tasnim news agency reported Dec. 16.

Meanwhile about 50 percent of industrial units work at half-capacity, he said, adding the statistics are alarming.

Appropriate measures should be taken to resolve the industrial units’ problem, Pourghazi said. The government itself has not settled its debts to the industrial units, he added.

The Iranian government unveiled its economic policy package in late October, in a bid to stimulate growth in the stagnant economy through higher investment in production and encouraging consumer spending.

The measures are envisaged for a duration of six months in the run-up to the removal of international sanctions against Iran.

The sanctions are to be lifted in the coming months, following Iran’s landmark agreement on its nuclear program, which was reached in July.

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