New Minister : National Economy Should No More Depend On Oil Revenues

Tehran, Aug 21, IRNA – Minister of Economy and Finance Ali Tayebnia said on Tuesday that dependence of national economy on oil revenues, which has prevented formation of a proper economic system in Iran, should be discarded. Addressing his inauguration ceremony, attended by First Vice-President Eshaq Jahangiri, Tayebnia said the dependence should be shifted towards national products. He put forward three strategies for Iranian economy to be pursued by the government of Wisdom and Hope: 1. coordination in approaches, 2. decision making and 3. implement and said that the trio must be observed by the major economic organs. He said the taxation organization should put on agenda support for the manufacturing sector and the Customs Administration Organization should target better and easier performance, while banks and insurance offices should orient their activities to support national products. Tayebnia referred to Iranian imbalanced economy dating back to before the 1979 Islamic Revolution, and said that sanctions and dependence on petrodollars are two other major maladies. He said that collaboration and solidarity among all the pillars of the Islamic Republic of Iran would help overcome all the prevailing obstacles. He noted that proper actions should be taken in favor of wealth generation, privatization and ceding state-run enterprises, thus making the private sector more powerful. Elsewhere in his remarks, Tayebnia touched on importance of attracting foreign investment and mechanism to augment tax revenues as well as implementation of Comprehensive Taxation System./end