يكشنبه, 17 نوامبر 2019
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Introducing Government Trading Corporation of Iran (GTC)

Introduction:

Government Trading Corporation of Iran (G.T.C) during its 40 years of activity has always been distinguished as a powerful governmental body , in carrying out sovereign tasks of procuring, supplying, purchasing, storing and distributing essential commodities of the country. GTC is known  as one of the well-known and prestigious Islamic Republic of Iran brands in the global commodity market So many of the challenges and crises associated with the country's shortage of commodities and consumables over the past years have been tackled by the company's international credentials, capabilities .

Continuous and timely presence in the global markets and full knowledge of the laws and regulations of the markets, reputation in fulfilling internal and external obligations, possessing the facilities and mechanisms necessary for the proper execution of missions and fulfilling assigned tasks and duties, full compliance with laws, approvals, by-laws and guidelines, emphasizing the principle of customer-orientation and respecting the rights of shareholders, taking into account national interests , centralizing and moving experts and collective policies and decisions, protecting domestic production, and protecting . The country's financial and economic resources, in a more formal sense, have a great motivation for serving the Islamic nation and maintaining the security and satisfaction of the majority of the society and the beneficiaries of the services are among the components that have justified the company's image in the domestic and international field .

Establishment:

According to Article 7 of the Formation Law of Commercial Ministry, approved on 1353/04/03 (1974/07/21), Commercial Services Development Company (CSDC) was established and the articles of association were approved on 1354/04/12 (1975/07/03). In the final years of the second program and during the third program of economic development of Islamic Republic of Iran 1379-1383 (2000-2004), four mergers and dissolutions were made on the basis of development programs and Supreme Administrative Council’s approvals, aiming complete concentration on governmental trading affairs as follows :

1: Merger of Commercial Services Deputy (affiliated to the Ministry of Commerce) and Commercial Services Development Company, changed to the name of “Commercial Services Development Organization”. Khordad, 1377 (June, 1998)

2: Dissolution of “Sugar company”, and entrusting the tasks and responsibilities to Commercial Services Development Organization. Khordad, 1377 (June, 1998)

3: Through merging of “Commercial Services Development Company” into “Commercial Services Development Organization”, the name changed into “Government Trading Corporation of Iran” according to the Act No. T.13/561 dated 1381/02/28 (2002/05/18) approved by Supreme Administrative Council. Khordad 1381 (June, 2002 ) 

4: Dissolution of “Grain Organization”, and entrusting the tasks and responsibilities to “Government Trading Corporation of Iran”, Through going into effect the item No.2 of the Act No. T.13/561 dated 1381/02/28 (2002/05/18) approved by Supreme Administrative Council. Esfand, 1382 (March, 2004) 

Due to “Government Trading Corporation of Iran” works in the field of market adjustment, purchasing, storage, distribution of essential goods, with the aid of its affiliated companies             ( Regional Grains & Commercial Services Regional Companies) all over the country, and has the responsibility for executing these policies and entrusted policies, it is included amongst the “Holding Companies”. Till 1390 (2011), GTC has been considered as a subsidiary of Ministry of Commerce. On 1390/04/11(2011/07/02), through merging two ministries of “Commerce” and “Mines and Industries”, one Ministry by the name of “Commerce, Mine and Industry Ministry” was established and GTC was considered as its subsidiary.

After approving and executing the Act related to the concentration of tasks and responsibilities of the agriculture sector in Ministry of Agriculture Jihad (on Bahman 24th , 1391(2013/02/12) (approved by Islamic Parliament and Act No. T/181557 dated 1392/12/06 (2014/02/25), approved by the council of Ministers and Circular No. T/77256 dated 1393/07/08 (2014/09/30) from vice president), Government Trading Corporation of Iran (Holding Co.) was separated from the Ministry of Commerce, and simultaneously with the above mentioned Act, GTC has been acting on behalf of Ministry of Agriculture Jihad by performing all the entrusted missions and tasks so far.

Actions and Activities:

The role and position of Iranian state-owned specialized trading company in performing the country's trade missions for  providing strategic and basic goods, including: wheat, rice, crude oil and raw sugar, improving purchasing, stocking and maintenance and distribution of goods and complete supervision of their execution is of the great importance and shows the active presence of the Iranian state trading company in the economic field of the country.

The main activities of the Government Trading Corporation of Iran are centered on government plans to control the commodities domestic market and as follows :

1-               Guaranteed purchasing of basic commodities, such as high-quality wheat and rice, to support farmers and domestic production and meet the country's consumer needs.

 

2- Buying, transporting, importing and distributing the essential commodities of the country including: wheat, rice, crude oil, sugar, poultry and meat  subject to  domestic production deficit , through the decision made in purchasing committee  and by using commercial tools such as cash markets, futures & options markets .

 

3-Supplying and reserve strategic stocks of goods, to support at least equivalent to 3 months consumption of the country .

 

4- Supporting the establishment and construction of storage facilities for staples, by increasing the capacity of the silos, warehouses, fridge  and tanks by the private sector .

 

5-   Urban transportation of goods distribution in cities  and villages  

 

6-   Supporting the domestic market of commodities through the timely supply and sale  in the Iranian Agricultural Commodity Exchange.

 

7-  Accomplishing of general policies for reforming the pattern of production and consumption of wheat, flour and bread, through the various plans and programs, such as  supporting and providing private sector facilities for the construction and expansion of industrial production of bread factories; Bakeries, granting for renovations the bakeries, participating for producing cultural dominating  programs .

 

8-     Organizing and preparing state-owned shares in order to expand the role of the private and cooperative sector and to implement the general policies of Article 44 of the constitution.