Failure of Iran’s Housing Minister’s ‘Oil for Housing’ Plan

The Mehr News Agency reported, citing the deputy head of the Tehran Province Bulk Builders Association, about the failure of the ‘Oil for Housing’ plan of Rostam Qasemi, the housing and urban development minister of the thirteenth government.

Iraj Rahbar said on Sunday, the fifth of Tir month, that the issue of foreign companies’ presence in housing construction projects has currently faded.

Iran’s housing and urban development minister announced the plan to attract Chinese and Turkish companies for housing construction in the country about 10 months ago, stating that negotiations were underway for foreign companies to be repaid their capital through oil deliveries.

However, he recently complained on his Twitter page about the “Oil Ministry’s failure to fulfill its promise” for implementing this plan.

Rostam Qasemi promised to build four million residential units over four years at the beginning of Ibrahim Raisi’s government, a promise that Iran’s president also emphasized on Saturday during a televised interview program, but did not clarify how much of the government’s promise has been fulfilled in the 10 months since his government’s activities began.

The deputy head of the Tehran Province Bulk Builders Association said in another part of his statement: If budget shortage in the construction sector becomes serious, domestic companies can use the oil barter mechanism and receive and sell oil in exchange for their investment in construction.

He did not clarify how domestic companies are supposed to use the oil for housing mechanism. Over the past decade, the plan to sell oil through private companies has been accompanied by considerable corruption.

Source: Radio Farda