Cooperatives’ Share to Purchase from Tehran Exchange Was halved
Cooperatives’ Share to Purchase from Tehran Exchange Was halved: According to Mohammad Reza Mohtashamipour, director of the Industrial Development Bureau (PDID Office) of the National Petrochemical Company, saying that since the portal of SAYA system for the registration of cooperative companies data was not launched this month, the National Competition Council (NCC) decided to reduce the cooperatives’ purchases quota from the IME 50% from Oct. 24th. The cooperatives were allocated a share of two folds in comparison with the other eligible companies that have the “Behinyab Codes“ which gives them a seating chair in the IME bids. This share announced to be halved by coming next couple of weeks, only if, the UNION of the suppliers and distributors (NCUP) won’t be able to operate and launch the “SAYA” Portal.
“SAYA” is the abbreviation of a phrase standing for a system that is able to register the data of the cooperatives and their members, the amounts of the materials that each cooperative may purchase from the mercantile exchange and their distribution pattern.
Referring to the fact that since the beginning of November, the coefficient of 2 quotas for the purchase of cooperatives on the stock exchange is eliminated, said the quota will buy cooperative petrochemical products from commodity exchanges like other companies.
He added: “Given the fact that the registration of cooperative information in the Saya system would make the transactions of cooperative companies transparent, it was essential for the system to be launched.
He said that the launch of the Saya system could have reduced the problems and eliminated the charges against cooperative companies, but did not launch the system and The incomplete registration of information has led to a reduction in the quota allocated to cooperative companies.
He further emphasized that it was decided to review their quotas whenever cooperative companies recorded their trading information on Saya’s system, and this information was provided transparently.