Members of the Electricity Syndicate have warned the Ministry of Power that recent currency fluctuations will lead to 100 power plant projects shutting down which can lead to outages. Shargh writes, an industry which used to plan 50 years ahead can now only plan for the upcoming summer. Payam Bagheri, Member of the Board of Directors at the Electricity Syndicate said, after the 2011 currency crisis, 250 projects became unfeasible and a number of them have yet to become operational. Since the responsibility for currency fluctuations falls on the contractors, the Syndicate is imploring the Government to adjust the value of the contracts. The method would be much cheaper for the Government than canceling the old contracts and signing new ones.
A week ago, the government set a unified market rate for the US dollar, after decades, which could be seen as a positive development. However, the rate at 42 thousand IRR per USD seems unrealistic […]
Tehran Stock Exchange (TSE) continued rising until Tuesday, then it started to fall. It seems that the creation of a parallel market for exchange rate has been appealing to the exporters. They can sell their […]