Another $ 1,000 billion from the National Development Fund / Injection into the stock market became $ 5,000 billion

According to Tejarat News, National Development Fund Has announced the deposit of another 1000 billion to the capital market stabilization fund, which brings the total payment to 5000 billion tomans.

Quoted from ایسناAs Kangarloo, Director of Public Relations and Head of the National Development Fund, told ISNA, the National Development Fund, in order to implement the contract concluded with the Capital Market Stabilization Fund, has a monthly deposit of 650 billion Tomans, in the new phase of another 1000 billion Tomans. Deposit made.

Referring to the total commitment of about 12 thousand billion Tomans of the National Development Fund to inject into the capital market, he said that with 1000 billion Tomans paid on July 7 (yesterday), a total of 5000 billion Tomans have been deposited in the account of the Market Stabilization Fund. The process will continue until the commitments are completed.

Congerloo also pointed out that out of this 12,000 billion, 5,000 billion tomans should be sought from the place National Development Fund Payment from the Tax Administration, which has so far received 2,000 billion of the payments made to the Market Stabilization Fund, and whenever the other 3,000 billion is returned to the Fund by the Tax Administration, it will be deposited in the account of the Market Stabilization Fund.

According to ISNA, the flow of this payment dates back to about two years ago, which due to the turmoil in the capital market and the discussion of investing one percent of the resources of the National Development Fund, according to calculations based on input to the fund, was determined to be equivalent. Rial 510 million dollars to be gradually invested in the stock market, which is about 12 thousand billion tomans at the rate of electronic trading system (ETS).

In this regard, in December 1399, the first payment in the amount of 1000 billion Tomans was made, but due to some ambiguities in this regard, it was stopped until in May of last year, with the approval of the Board of Trustees of the National Development Fund, the interest rate and amount were determined. However, the Central Bank injected about 1,000 billion tomans from the resources of the National Development Fund to the Market Stabilization Fund without coordination, but because it was not coordinated with the Development Fund, no contract was concluded between the parties for this payment.

In January of the previous year, although the previous contract had not yet been signed by the Market Stabilization Fund, National Development Fund He paid another 650 billion tomans and the relevant officials said that they did this to show the fund’s commitment to its obligations, but due to the lack of entry of the market stabilization fund to sign the contract, it is no longer possible to continue paying legally for the fund.

The Market Stabilization Fund, of course, did not consider the agreement bilateral, and despite an agreement between the National Development Fund and the Exchange Organization, criticized it until the disputes were resumed in May of this year. Based on this, two installments of 650 billion Tomans with a total of 1300 billion Tomans were paid to the Market Stabilization Fund together and brought the total to about 4000 billion Tomans.

Now that the payment of the fund has reached 5000 billion Tomans, in order to complete the amount of 12 thousand billion Tomans, another 7000 billion Tomans must be paid by the National Development Fund to the Market Stabilization Fund.