The impact of Joint Comprehensive Plan of Action JCPOA on Stock Exchange takes time/ the production of paper from limestone

According to Tasnim News Agency, in an interview with the reporters, Ahmad Reza Isfahani referred to the leader's motto for this year as the Resistance Economy and Action Year and said, "Based on the motto, we should try to change the condition of indebted companies making loss into the ones making profit by relying on production and domestic strength." 

Atieh Saba Investing Company's CEO added, "Based on this, we attempted to keep Melli Shoe CO, as one of the old Iranian companies away from losses and guide it to profitability."

Pointing that Melli Shoe Company established and launched in 1973 with around 11000 personnel, he added, "I am afraid the number of personnel in this company reduced to 600 people due to different problems including vast import of Chinese shoes and the weakness of management, but we have taken numerous actions to revive this company." 

Nikkar Isfahani added, "Since last year, we have tried to revive the quality and the variety of models by taking advantage of Italian designers. The company's products will soon be launched on the market with national design and sign."

Stating that the Melli Shoe company with 260 sales outlets and an investment of around 2000 billion Tomans does not have profit for the country, he said, "The old dominant thoughts in the company in previous years has caused these incidents to happen there."

This economic activist continued, "In coordination with resistance economy, important steps can be taken in the domestic economy" and said, " Paper industry, after cereal, is the most consumable industry in the country so that 1 million and 300 thousand tons of paper is annually consumed in the country out of which is unfortunately imported to the country with a value of 2 billion USD. Regarding the existing limitation of cutting trees, we have intended to produce paper from limestone to solve the requirements of paper, and the first paper making from limestone company will be inaugurated in Hamedan during Fajr ten-day ceremony (From Jan. 31st to Feb 10th). After this company, we are planning to put the similar companies in the Qom and Lorestan provinces, too."

In response to the question of Tasnim News Agency on the impact of JCPOA on the economy and the investment market, he replied, "Unfortunately, our country faced different sanctions and limitations especially in economic sector for ten years; therefore the removal of sanctions and their impacts on economy takes time which can be felt in medium term."

He added, "On the other hand, JCPOA and the removal of sanctions has and will affect the investment market by like the other sectors of economy, so we think that it will have a good prospect in future months and years."