Qaempanah: Banks Must Not Spend National Capital on Owning Businesses

Tabriz – The executive deputy to the president said the main cause of inflation is banks' imbalance, and banks should not engage in owning businesses or building factories.

Tabriz - The executive vice president said: The main cause of inflation is the dissatisfaction of banks, and banks should not engage in business and factory construction.

According to Mehr reporter, Mohammad Jaafar Ghaem Panah said in a meeting with investors and economic activists of East Azarbaijan province on Wednesday afternoon: Our country is one of the richest countries in the world in terms of resources such as copper and iron mines, but we need capable people to convert these resources into goods. I believe that the work of the government is not production; The government's job is to support the private sector and the government has nothing to do with production.

He added: The private sector should come to the field and help. We have to change this view and belief in ministries such as industry and oil. The only duty of the government is education, security and supervision; Therefore, to change this attitude, we need cultural help and reform of thoughts.

Referring to the value and position of the martyrs, the Executive Vice President stated: If we remember Shahid Bakri and other generals of the sacred defense period, it is because they preserved the territorial integrity of the country. Today, in addition to the fact that America is our enemy, poverty and unemployment are also our enemies, and who but investors and entrepreneurs can destroy these enemies?

Banks should not spend the nation's capital on business

In another part of his speech, referring to the roots of inflation in the country's economy, Qaim Panah said: The cause of inflation is the banks and their discontent. This situation has arisen because 70% of banks invest by themselves. The bank should not build a factory, but should return the nation's capital to the nation. This issue is being followed up, especially regarding private banks, and Hemmati, the Governor General of the Central Bank, is investigating it so that these issues can be corrected before the collision. Because this liquidity is the cause of inflation and part of it is rooted in structural problems and sanctions.

The government's efforts to prevent power outages for industries despite the energy imbalance

The executive vice president also stated about the challenges of the energy field of industries: we cannot subsidize electricity consumption and industries must also come to the aid and use electrical panels and solar panels. Despite all the pressures, we are trying not to cut off the power to industries.

He added: "We have saved more than 3 billion liters of diesel for the country's Mobada Day." We should ask people to save gas and electricity consumption so that the industry does not face a definite challenge.

According to this report, in this meeting, the problems and concerns of economic activists and investors of East Azarbaijan province were discussed in detail.