Did the government withdraw from the approval to increase the feed rate of petrochemicals? – Tejarat News

According to Tejarat News, Economy Minister Ehsan Khandozi announced today that a decision will be made regarding the feed rate of petrochemicals in the emergency meeting that will be held tomorrow. He has announced that the government has decided to determine a formula that will help predict economic variables.

He has emphasized that the government does not agree with determining a fixed number for the feed rate that will be a criterion in the long term, and a formula should be determined that changes according to the global and domestic markets and other variables. Based on this, it is suggested that the feed rate be at least three or five years.

Rumors woke up the stock exchange organization?

Yesterday, there was a rumor in cyberspace that some employees of the Tehran Stock Exchange went on strike in response to the critical situation of the stock exchange. Although Tejaratnews’ follow-up from official sources did not lead to a clear result in this regard, the circulation of such rumors in the market space shows the increase of pressure on the management of the stock exchange organization. Previously, there were rumors about the resignation of Majid Eshghi, the head of the Stock Exchange Organization, and after that, a campaign was launched to remove Eshghi from the headship of the organization.

Now the market is green, the managers of the stock exchange organization are announcing their support, and the Ministry of Economy has claimed in a statement that the government has a long-term view of the market! Meanwhile, 50 trading days have passed since the stock market fell in May; The drop that was later found to have occurred due to the increase in the gas feed rate of petrochemicals and the access of special codes to this information rent. During this period, he received income from Seng Sedah, but not from the Ministry of Economy and the Stock Exchange Organization!

Now, while after two months, the stock market is having a positive day, the same people who had brought down the market with a dangerous decision are standing behind the stands and talking about the government’s support for the market. Although some believe that today’s growth is a mandated growth to reduce the pressure on the government and the management team of the stock exchange organization.

Did the Ministry of Economy withdraw?

The Minister of Economy, who himself was one of the proponents of increasing the feed rate of petrochemicals to compensate for the government’s budget deficit, has announced that the amendment of the feed rate regulation has been presented to the government board and is being discussed in the government’s economic commission, and after it is finalized, it will go to the government’s floor. Does this news mean that the people of the capital market and the activists of the petrochemical industry have been able to listen to the government about the risks of this non-expert decision?

Earlier, when the government’s secret resolution to increase the feed rate of petrochemicals was exposed, Ehsan Khandozi, as the Minister of Economy and government spokesperson, appeared behind the podium to answer for the government’s new mistake; But in the end, he uttered words that did not make any sense and did not yield any results.

This behavior of the government sounded the alarm for industries and shareholders. Petrochemical companies started their brainstorming sessions and warned in a unified response that if the government’s decision is to be implemented, the production lines of these companies will be stopped and methanol and ureas will be removed from the industries. This warning and threat means the loss of about half of the foreign currency income of the country.

On the other hand, yesterday, Mohammad Reza Povabrahimi, the head of the Parliament’s Economic Commission, also warned about the dangerous consequences of increasing the feed rate of petrochemicals and announced that this issue will be investigated in the Parliament.

In the meantime, the pressure on the managers of the stock exchange organization increased, the stock market was falling and falling every day, the little trust of the loyal shareholders was lost and real heavy money was leaving the market every day, so that the stock market during the last two weeks at least It lost 1200 thousand billion tomans of its value.

It seems that these movements and developments have made the government a little aware of the consequences of the feed rate approval. At least this is the hope, but whether the government will eventually reverse its decision or not is a question that will be answered in the coming days. Especially since the government is still facing a serious budget deficit and does not have the resources to cover it.

Repeating the claim of support in the shadow of the government’s intervention in the capital market

Although the Ministry of Economy, in a statement which of course had more of an answer aspect, announced the review of the feed rate increase resolution, it still resorted to the same slogan-like literature and repeating the claim of supporting the market. In this statement, the recent fall of the stock market has been interpreted as a natural fluctuation in the financial markets and it has been emphasized that one cannot expect the growth of this market forever!

The Ministry of Economy, which itself was one of the proponents of this dangerous decree, has promised that during the scandals created regarding the decree on feed rates for petrochemicals and other industries, the government has assured that it will deal with possible violators without appeasement and will not allow these scandals to People’s trust in the capital market will be damaged!

This statement also claims that the government, in addition to trying to support the capital market, has made other efforts to increase transparency in order to return people’s trust in this market and maintain this trust, which is still ongoing, and it cannot be claimed that the government is indifferent to this market. ! Meanwhile, the Ministry of Economy claims to support that the capital market has faced new shocks every time since the beginning of the President’s government. As soon as this government took over the affairs in 1400, it collected money from the stock market by selling bonds and took it to the debt market to finally claim that it did not print money to compensate for the budget deficit and provide employees’ salaries. In this way, the 13th government paid the cost of its budget deficit and apathy from the stock market in the first year.

Even now, in the second year of steering affairs, the 13th government has put its hands in the pockets of foreign exchange industries and demands their profits. A cost that is paid from the shareholder’s pocket in the short term and will affect the entire economy in the long term.

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