Petchem Industry Key in FOREX Stability: MP

(Monday, December 10, 2018) 16:20

TEHRAN (NIPNA) -- A member of the Iranian parliament said the current stability in the FOREX market was made possible by the help of petrochemical companies.

Speaking to Shana, Shahbaz Hassanpour Biglari, who is also a member of the planning and budget committee of the parliament, said development and growth in all the industries, including the petrochemical sector, must be even and balanced, adding, “the petrochemical industry is an integral part of the petroleum industry and a piece of this huge chain; therefore, the development process and petrochemical development projects cannot be considered independently of other sectors of the industry, especially the upstream sectors.”

 The MP added that petrochemical companies contributed greatly to non-oil exports in Iran, adding the sector played a major role in generation of jobs and weaning the country off petrodollars.

 The industry, which has been helping the country's economic and currency conditions with its full potential and has injected its revenues into the economic cycle of the country, is the petrochemical industry and, given the measures taken, it has offered relative stability to the foreign exchange market, Mr. Biglari added.

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National Petrochemical Company