Ambiguity in terms of opening new Rial LC
Head of of Industrial and Mining Association network said that the suggestion about the Rial’s LC which is not awarded to debtor units is opaque and added : the central bank should separate the debtor manufacturers and the manufacturers who have deferred debt.
Bijan Panahizadeh in an interview with Iranian Students News Agency (ISNA), said: regarding the financial problems arose due to embargos and lack of access to financial resources by producers Rial’s LC reopening can solve some producers’ present problems .
He added : in a period that Rial’s LC was interrupted, many manufacturer units were affected and this instrument should not generally limited and
Stopped due to a violation.
He explains about the suggestion of not assigning the Rial’s LC to debtor units and said : we should separate the debtor and deferred debt. We should now that most of the manufacturer units are indebted and this is natural and not assigning Rial’s LC to them can increase their problems.
He also said that not assigning Rial’s LC to manufacturer units who have deferred debt is logical and added : central bank should clarify the new regulations of Rial’s LC inauguration.
Panahizadeh also pointed out that the central bank should not see the reopening of Rial’s LC as a favor for manufacturers. He added : the benefits of Rial’s LC in Iran is more than other countries, and several requirements are put even for this Elsi opening.ommunity networks
Head of industrial and mining association network explain the manufacturers’ repayment of currency loans with exchange rates and said : money and credit council resolution in this case is quite irrational, Why manufacturers need to compensate the reduction of the national currency value. He added : manufacturer units now have some problem due to repayment of currency loans with the rate of 900 tomans, let alone they have to repay these loans with exchange rates.
ISNA reports , by the time of reopening of Rial’s LC , the central bank’s chairman explains the new requirements to open Rial’s LC and announced the followings as some of the requirements of the money and credit council announced new guidelines: checks have not been returned, incurrent debt, including deferred and past due .