Introduction of Firm Petchem Regulator Necessary: Ex-CEO

Introduction of Firm Petchem Regulator Necessary: Ex-CEO
(Wednesday, July 11, 2018) 17:07

TEHRAN (NIPNA) -- The former CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said introduction of an established regulatory body for the petrochemical industry was a necessity.

Speaking to NIPNA, Adel Nejad Salim said pursuing national interests, aligning petrochemical plans with the country's macro-plans, ensuring transparency of processes and exploitation of the state-of-the-art technologies in the petrochemical industry are some of the major advantages of establishing a firm regulatory body in the sector.

The official underscored the importance of integration of petrochemical companies across the country, adding: "The government must gradually withdraw from the field and act more as a supervisor. In fact, it must be primarily concerned with formulation of appropriate regulations and monitoring the developments, as formation of a powerful regulator in the sector can strengthen the relations between petrochemical companies."

He also expressed optimism that discussions concerning formation and introduction of a powerful regulator for the petrochemical sector become finalized soon.

Nejad Salim further called on involvement of economic chambers as well as private investors in funding petrochemical projects so that more decision will be made by the private sector which would suit national interests.

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