Dr. Mehdi Karbasian, has taken charge of
launching Iran’s oil bourse.
Karbasian is among experienced executive
managers of Rafsanjani and Khatami governments. During 1990s, when he was on
the top of the Social Security Organization, he brought about major changes in
that organization and provided the organization with huge financial resources.
He was in charge of Iran Customs Administration in president Khatami’s first
Cabinet where he again proved to be an efficient manager and modernized Iran’s
customs by doing away with traditional methods. Under Tahmasb Mazaheri as
minister of economic affairs and finance, he worked as deputy minister.
Karbasian has been managing organizations and companies affiliated to Ministry
of Petroleum over the past two years. Experts believe that choosing this
experienced technocrat as implementer of oil bourse, shows firm determination
of the Ministry of Petroleum to go on with the plan.
Sadeq Abedin, secretary of High Council
of Iran Free Zones, stated that establishing oil bourse will attract many
economic profits to the country and will prevent unilateralism in Ministry of
Petroleum, giving wider latitude to Ministry of Petroleum for bringing more
transparency to oil transactions.
He added that executive process of oil
bourse had become problematic, saying, "After a meeting between ministers of
oil and economic affairs, the official in charge of oil bourse changed and it
was decided that further changes will be also made to the board of directors
of Iran oil bourse.
Articles of association of oil bourse,
its founding board and executives as well as the method chosen for
transactions and presentation of oil products on oil bourse will be forwarded
to Bourse Council as soon as possible. Obviously, the first step in
establishing oil bourse is proposing its establishment to the Bourse Council,
which has been done for oil bourse during the past 10 months. At that time,
agreement in principle was issued and it was decided that concerned officials
should follow up the plan to establish oil bourse, which includes drawing up
its articles of association and introducing its founding board and executives.
Then they should be approved by the Bourse Council to pave the way for future
steps to be taken.
