phone : 031-35557966

Limiting the foreign exchange settlement of bitumen exporters to the Nima system is an obstacle

تاریخ انتشار : 2018/02/05
In the meeting of the foreign exchange committee of the Iranian Chamber of Commerce, the possibility of clearing the foreign exchange obligation of bitumen exporters through all legal methods was emphasized. Currently, the exporters of this product are only allowed to use the Nima system. The members of the Foreign Exchange Committee of the Iran Chamber discussed the problems related to the export of bitumen in the latest meeting. The members of Bitumen Exporters Association believe that they should be allowed to use all legal methods to meet their foreign exchange obligations and not only be allowed to supply in the Nima system. According to them, this emphasis on the NIMA system as the only way to resolve foreign exchange obligations has caused the exporters of this sector to face excess obligations. Of course, this issue has also challenged the activists of the steel chain. Today, the price of Iran’s export bitumen is not competitive in the market because it is high compared to the world price.

Ali Forotan, Deputy Chairman of the Commodity Exchange, also confirmed the situation and requested the central bank to pay attention to this problem. Based on his statements, logically, the domestic price of bitumen should be lower than the export price of this product, and policies are made with this logic. He pointed out: According to the law, the floor price of bitumen supply is determined according to the transactions in the commodity exchange. Considering that the representative of Central Bank was not present at the meeting of the Foreign Exchange Committee of the Chamber of Iran, despite the invitation, it was decided that within the next two days, letters from the Chamber of Iran will be sent to the Central Bank and in it, while explaining the problems, proposed solutions will be presented. After that, it was decided that the issue should be raised and discussed in the main hall of the dialogue council after the expert reviews.

Links

Isfahan Petro Refinery Holding
Bitumen Association of Iran
Iran Oil Company
https://iccima.ir/