The parliament demanded an answer about the reason for the fall of the stock market – Tejaratnews

According to Tejarat News, today the Chairman of the Economic Commission of the Parliament considered the state of the capital market to be unsettled and called for an extraordinary meeting with the presence of the Ministers of Oil, Security and Economy and the Head of the Planning and Budget Organization to deal with it.

It should be mentioned that during the last 50 trading days, the Tehran Stock Exchange has witnessed a daily fall in indices. During this period, due to the increase of mistrust in the market, there was an outflow of real heavy money and the stock market lost 1200 thousand billion Tomans of its value in the last two weeks alone.

This process started on May 17. The path that was determined later was the decision to increase the feed rate of petrochemicals. During this period, methanol producers and urea producers, who accept the most negative impact from this decree, along with the people of the capital market, made a great effort to clarify the consequences of increasing the gas feed rate. Now it seems that these efforts have brought at least a part of the parliament with them.

The partial and insular view of the government; causing the stock market to fall

In the continuation of the efforts to make the government answerable about the food price shock and its irreparable consequences in the economy and including the capital market, Mohammad Reza Pourabrahimi warned in the public session of the parliament, referring to paragraphs 8 and 12 of the third article of the constitution, that the conditions of the capital market as one One of the important economic pillars of the country has suffered a special situation. He reminded that millions of people are beneficiaries in the capital market, and in this context, we can mention 50 million beneficiaries of equity shares and pension funds.

The Chairman of the Economic Commission of the Parliament reminded: Non-strategic and non-expert decisions have caused challenges in the capital market and we have faced a huge amount of people’s criticisms. By raising the issue that some ministries such as Samt and Naft have caused people to suffer in the capital market, he stated: Yesterday (July 26), except for one or two cases, the shares of all companies in the capital market were negative.

The need for economic ministers to be accountable to the parliament

The representative of the people of Kerman in the parliament said: I request the ministers of oil, security and economy and the head of the budget program organization to come to the economic commission and hold an extraordinary meeting to improve the market situation by adjusting the decisions.

However, Abdulreza Masri, the first deputy speaker of the parliament, who presided over the public meeting, did not consider this warning as important and at the same time said: Your statements are kind and good, and in relation to the proposed proposal, it is necessary to solve this issue yourself. Follow up to get a positive result! In this way, this member of the presiding committee of the Majlis publicly and officially shirked from the burden of his responsibility for the situation that happened to the industries and the capital market!

Consecutive reminders to the Minister of Economy about the direction of the stock market

In today’s session of the Majlis, Mohammad Hasan Asefari, the representative of the Arak people, addressed the Minister of Economy and stated that the issue of the stock market is a serious issue. They have brought, but every day this capital is lost.

Seyyed Alborz Hosseini, the representative of Khodabande people, also said in a verbal warning to the Minister of Economy and the economic team of the government: “The stock market fell by 64,000 units yesterday and is not having a good time.” People are worried, and the issuing of circulars and the entry of some agencies into pricing, as well as the establishment of the Ministry of Commerce, have affected the market. In this regard, the officials related to this field are requested to attend the court and report.

Read more reports on the capital market page.