Iran’s government plans to pay its debts to private firms with proceeds it aims to raise by selling stakes in state-held refining and petrochemical companies, Iranian economic daily Financial Tribune reports , citing a member of the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIM). Iran’s government is currently reviewing a proposal by TCCIM’s energy commission to sell shares in refineries and petrochemical firms in order to settle the huge debts it has accrued with private companies and contractors, Reza Padidar, head of TCCIM’s Energy Commission said, as carried by Financial Tribune. Amid Iran’s economic struggles, largely due to the U.S. sanctions on its oil, shipping, and banking industry, many contractors and private businesses in Iran’s energy industry are not getting paid for the work they have done for government entities. Due to the lack of payments, some of the private firms in Iran operate at around a […]