TEHRAN – Iran’s cabinet has approved a document on improving the productivity of the industrial sector in a meeting held on June 30, IRNA reported.

As reported, the mentioned document was proposed jointly by the ministries of oil and industry, mining and trade as well as the State Administrative and Recruitment Organization based on Article 138 of the constitution.

Accordingly, the ministries of industry, mining, and trade and oil (the National Iranian Oil Company) are required to prepare a progress report on the actions and programs contained in this document in six-month intervals and submit it to the National Productivity Organization.

Also, the State Administrative and Recruitment Organization and the National Productivity Organization are obliged to send a comprehensive report on the measures taken based on this document to the cabinet on an annual basis.

The industry sector plays a significant role in the Iranian economy as the government has been taking new measures for distancing the country’s economy from oil.

In this regard, since the re-imposition of the U.S. sanctions, the Iranian Industry, Mining, and Trade Ministry was tasked to pursue a program for indigenizing the knowledge for the production of major industrial equipment.

According to Deputy Industry, Mining, and Trade Minister Mehdi Sadeqi Niaraki, relying on domestic production in the industry sector saved Iran $3.5 billion during the previous Iranian calendar year (ended on March 20).

Last year the indigenization of the knowledge for the production of $3.2 billion worth of such equipment in various provinces was on the agenda, which increased to more than $3.5 billion, Niaraki said in late April.

He mentioned investment in industrial sectors and the increasing trend of production of important industrial products as measures taken by the Industry, Mining and Trade Ministry in the previous year which was named the year of “Surge in Production” by the Leader of the Islamic Revolution Seyed Ali Khamenei.

EF/MA