Judiciary’s support for the sale of cars in the commodity exchange – Tejaratnews

According to Tejarat News, Mohammad Reza Pourabrahimi, the chairman of the Economic Commission of the Parliament, in a letter addressed to the judiciary today, requested support for the supply of cars in the commodity exchange.

The text of the letter of Mohammadreza Pourabrahimi, Chairman of the Economic Commission of the Majlis, to Hojat al-Islam and Muslimin Mohseni Ajeei, the head of the Judiciary, is as follows:

Hazrat Hojjat al-Islam and the Muslims, Mr. Mohseni Ajei

Honorable Head of the Judiciary

As you know, following the critical situation of accumulated losses of automobile companies due to mandatory pricing, as well as widespread public protests against the way of selling cars in a lottery style due to rents and related corruption, it is necessary to find a new solution based on the principles of resistance economy and the general policies of principle 44 of the law. A consensus emerged among the elite that could both bring public satisfaction and revive this industry.

The most effective alternative solution to solve the two problems of producers and consumers was to supply the product in the commodity exchange. Despite the initial refusal of the stock exchange due to the presence of many sensitivities in the car market, after coordinating with the honorable Minister of Industry, Mining and Trade, finally, in the meeting dated 21 July 1401, the Supreme Council of Stock Exchange and Securities reached a consensus that the car should be offered on the Iran Commodity Exchange.

The important advantage of this method is benefiting from the legal system and the executive mechanisms of the market consisting of the commodity exchange, which creates transparency in the market and, in addition to shortening the hands of intermediaries, reveals to everyone the amount of information supplied by the car manufacturer and how to find out the price in each transaction. With the continuation of supplies and the understanding of market participants and economic entities on how to conduct transactions in the stock market, fulfilling the commitment of car manufacturers to deliver cars on time, contrary to the past experience, and establishing a system for handling complaints in the dignity of customers, the efficiency of this process has also improved over time in such a way that With the decrease in the relative price of cars offered in the stock market compared to other cars, the superiority of this method over other tools became apparent to everyone. It seems that this important action will eliminate the interests of intermediaries who profit by suppressing factory prices with the pricing method. They see orders and price increases in the free market; Rent, which, in addition to causing losses to economic entities and especially equity holders, creates extra-budgetary debt of the government in line with the implementation of Article 90 of the Law on the Implementation of General Policies of Article 44 of the Constitution, extensive borrowing by car manufacturers from the banking network and non-financial borrowing. Directly from the central bank and adjustment of employees of the automotive industry chain.

What is certain is that the continuation of the wrong approaches of the past, such as the unprofessional approvals of the Competition Council in the mandated car pricing, will not only lead to the removal of the monopoly, but will also stop the efficiency and economic growth. Considering the importance of the judicial system in preventing deviation and corruption and the strong presence of representatives of the judiciary in the decision-making councils, it is requested to grant the mission to the inspection organization in order to deal with corruption and also the need to support the approach of offering cars in the stock market, according to the discretion of the appropriate order. In order to monitor the cooperation of the executive bodies in order to implement the decision of the Supreme Council of the Stock Exchange, it should be put on the agenda.

Source: Senate