Iran has alternatives to oil revenues

TEHRAN (Tasnim) – Iran’s energy minister stressed on Saturday that the country’s revenues are not dependent on petrodollars, pointing to various other industries that could make up for any reduction in oil sales or prices.

“The country’s revenues are not limitted to oil. We have income from electricity exports and have other mechanisms as well for financial support,” Hamid Chitchian told reporters on the sidelines of the 14th International Electricity Exhibition of Iran, held in Tehran on Saturday.

The more oil exports, the better we can deal with the challenges thanks to the increased revenues, the minister said, but at the same time noted that Iran has come up with alternative plans to compensate for any possible reduction in the oil income.

Back in October, Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei called for formulation of necessary plans to cut Iran’s dependence on oil revenues and govern the country on the basis of domestic capabilities instead of natural resources.

“Instead of relying on the oil revenues, Iran should be governed by relying on the domestic forces and the sources above the ground, namely the intelligence and talent of young people and the generation of science and knowledge,” Ayatollah Khamenei stressed.

The Leader warned that devising the country’s economic plans based to the petrodollars will leave the economy prone to the decisions made by the “world’s major policy-makers”.

Making a reference to fluctuation in the oil prices in the international markets, Ayatollah Khamenei cautioned about gloomy future of the dependence on oil incomes.

“In an economy dependent on the underground resources, no need will be felt for the identification, employment and activity of elites, and the country will not either make real progress in practice,” the Supreme Leader had underlined.

By Tasnim News Agency


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