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Dy. Emphasizes Industry’s Role in Controlling Inflation

Dy. Emphasizes Industry’s Role in Controlling Inflation
(Monday, May 1, 2023) 14:31

TEHRAN (NIPNA) -- Morteza Shahmirzaei, Deputy Minister of Petroleum and CEO of National Petrochemical Industries Company (NPC), highlighted the significant role of the petrochemical industry in controlling inflation in Iran.

In his speech at the 14th Iran Petrochemical Forum (IPF), Shahmirzaei added that the industry's management has implemented measures to prevent price hikes of petrochemical products, which will help in achieving the goal of controlling inflation.

He also emphasized the petrochemical industry's contribution to the country's economy, including the export of goods, equipment, and catalysts to foreign countries.

Shahmirzaei revealed that the industry has achieved a production capacity of 93 million tons despite international sanctions and restrictions, and is set to double its production capacity within the next decade.

Additionally, he highlighted the industry's progress towards self-sufficiency, with over 80% self-sufficiency in the field of goods and equipment, and the intention to achieve complete self-sufficiency within the next six years.

Shahmirzaei also called for support from investors and those interested in the industry, emphasizing the need for the completion of the value chain of the petrochemical industry.

He added that the industry has shone brightly in foreign exchange and is set to reduce the gap between installed capacity and production this year.

The speech concluded with Shahmirzaei expressing his hope for the petrochemical industry to become a source of pride and honor for Iran.

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