News ID : 3790
Publish Date : 17 October 2019 - 07:04
The project of self-sufficiency in producing parts and internalization is entering the second phase while keeping this track seems impossible due to current condition.
Khodrocar - While much of the 110 trillion IRRs facility earmarked for the automotive industry was to be dedicated to supply chains as well as self-financing projects, the central bank prevented the facility and operating banks from paying for these facilities. These conditions do not apply. While carmakers were planning to spend a large portion of this money on supply chains as well as self-financing projects if planned, but not all plans are currently paying off.

In the current situation that auto industry is facing severe problems like shortage of liquidity, it seems that other organizations should help the industry. 

"Self-sufficiency requires capital and investment in product lines, raw materials and technology and research needs to be done, but in practice this has not happened.” Maziyar Beigloo, secretary of part makers association told khodrocar reporter. 

"It was decided that internalization fund will be supported from the approved 110 trillion IRRs budget but only 40 trillion IRRs has been allocated to this matter.” He added. 

"Each of the makers had predicted that some of the money would go into the self-sufficiency project, but that didn't happen, and now what comes to our mind is the entry into the National Development Fund and the payment of low-interest facilities and high repayment periods.” He continued.

"It is important to note that the investment made is not solely owned by the present, and as has been the case for years, fragments of this investment have been produced for years, so the return of this money that results from currency savings will be higher. Failure to provide the cash needed to internalize the project will not achieve the projected goals.” He said.

"It looks like there is no way to pay 844 million euros because we have lost time and the central bank, on the other hand, has not amended the instructions to the operating banks and in this case the operating banks have no desire to do so they have no endorsement.” He talked. 

"Despite the extension, the terms of payment were not amended so that there were still two problematic conditions in this regard, the first being that the facility was repaid in foreign currency at an undisclosed price and the second being an indebtedness. The operating banks are the central bank throughout the facility repayment period, and it does not matter whether the operating bank obtains its resources from the recipient of the facility, so the underlying banks do not enforce this ordinance.” He said. 

"Claims are difficult to pay because carmakers are mired in cash shortages and have no hope of recovering, but carmakers continue to get sick, but we have repeatedly emphasized this until the car's price is corrected. And automakers and parts makers do not make a profit, they are owed more each year, and the profits of these resources go to the dealers rather than the consumer.” He said finally.

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