The managing director of Persian Gulf Petrochemical Industries Co. (PGPIC), Adel Nejad Salim, emphasized on the importance of formation of a regulatory system in the petrochemical industry of the country. According to him, “This system can play an important role in using foreign finances and resolving the problem of guarantees provided by petrochemical companies,”.
Earlier, some issues such as price control and feedstock regarding petrochemical industry used to be administered by the government through National Petrochemical Co. (NPC); however, following the implementation of privatization in the country, unbalanced relationship between petrochemical complexes as well as price-setting issues for feedstock and products has caused some problems in petrochemical industry of Iran. The only way to solve these problems is to create an actual regulatory system.” Once a regulatory system is formed, the major and long-term plans of the petrochemical industries could be defined.”
