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Peykareh Group Delighted by
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Superb Market Separation
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The correct management of capital and its appropriate investment will
certainly serve to introduce us into the world capital market. |
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Ali Mirkhan, Managing Director
of Peykareh Group |
When Majlis passed the law for
separating the monetary and capital markets in Iran the news rippled through
Iran’s business community. For the first time many companies were provided
with the opportunity to manage their monetary and capital assets in accordance
with international practices and thus be boosted to an equal footing with
their foreign competitors. One of the companies that had been anticipating and
planning for such a separation for over a decade was Peykareh Plastic
Industries Company. Now that such a division is set to take place, we talked
with the company’s Managing Director, Ali Mirkhan, to see what changes we
should be looking for in the future.
What is the
position of the monetary and capital markets in Iran?
After a quarter of a century, the terms money and capital
are—for the first time in Iran—approaching their real meaning. This means that
they are finding their true positions, under separate supervision. Soon the
Central Bank will assume its true position at helm of the monetary market,
while leaving the capital market to be led by its legitimate leader, the
Ministry of Economic Affairs and Finance. These distinctions have resulted
from the approval of Monetary and Capital Market Bill in Majlis.
Where do experts
and specialist stand in the midst of all this?
The need of the hour is that the economic experts of the
country gather and suggest and discuss the outlooks and roadmaps for the path
we have set foot on. If we do not tread correctly along this path, it will not
take us to the world markets, and we will only come to dead ends. Thus,
investing on the knowledge and experience of experts and specialists is an
undisputable and inevitable prerequisite for success in this regard.
What factors must
be considered in regards to investment?
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Appropriate monetary policies can be generally identified as the main factor
setting investments in motion. |
The correct management of capital and its appropriate
investment will certainly serve to introduce us into the world capital market.
The world capital market has been codified to some extent over the past few
years and its processes have been organized and implemented. It is to this end
that the government must assume its role at the helm of the capital market,
and to the extent that it fulfills this role—in an expert, neutral and
cooperative manner—the country’s capital market will have a brighter future.
What can you tell
us about money and its role in guiding investments?
Appropriate monetary policies can be generally identified as
the main factor setting investments in motion. The banks and as their leader,
the Central Bank of Iran, assume the responsibility in this regard. Over the
past years these structures were not moving in their correct direction and
instead of attending to their real responsibility, which is supporting
investments, they were engaged in trade and activities unrelated to
investment. These institutes must try to turn to their right course as soon as
possible, as it is the only way to enter into the world monetary and capital
market.
Can you cite an
example of a correct policy?
In the recent years, the government of President Khatami
implemented a correct policy in regards to the country’s monetary market,
which was the establishment of Forex Reserve Fund. Even though the structures
for using this fund and the role of banks were not clearly determined, a huge
amount of capital was set in motion and many useful technologies were
transferred to the country and domesticated. So due to this policy, the
capital that could have been misspent on consumer products was turned into
national assets. Now that the country and its companies enjoy these assets,
they are on a stronger foundation for dealing with their foreign counterparts
and entering world markets as a result. Thus, money has a clear role in
determining the fate of a country and implementing correct policies for its
use and circulation is critical in the current conditions of the country and
the world.
What steps has
Peykareh Group taken for entering global markets?
Over the past decade Peykareh has taken various steps to
facilitate its entry to the global markets, such as:
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Utilizing foreign capital
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Benefiting from foreign investors and their experiences
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Utilizing foreign technologies
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Benefiting from domestic expertise, investments and facilities
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Presence in national and international markets
All these activities add up to create a forward-looking
momentum within the company and even despite its disagreements with
governmental organizations, Peykareh managed to continue its path and we can
dare to say we have enjoyed great success at the start of our way and we hope
to continue this into the future.
What has Peykareh
done in the field of new technologies?
We have been working in the downstream petrochemical
industries, and are especially active in the field of material handling and
packaging. We are also researching, studying and implementing projects in
regards to the environment and the recycling industry. Even though these
activities are not going ahead at any remarkable speed, we can claim that
mistakes and errors have been minimized.
What does the
separation of Iran’s monetary and capital markets mean for Peykareh?
The separation of the monetary and capital markets will be very
determining for our company, as we have anticipated and planed for such a
division over the past decade. We are now turning out attention to the capital
we can procure with the support of the country’s monetary market, which will
allow us to realize our visions. This is not only our desire, but also the
desire of the country’s entrepreneur community, and anyone who can take the
money that is going to waste and turn it into lasting national wealth. |
