The Office of the Supreme Leader

Leader: Oil must be used for IRI's progress

Leader of the Islamic Revolution Ayatollah Sayyed Ali Khamenei said on Monday that oil must be used to prop up progress and economic development.
IR Leader made the remarks during a three-hour visit to research center of Oil Industry.

Ayatollah Khamenei appreciated relentless efforts of the researchers to develop technology in oil and gas sector.

"The valuable and prominent activities in this center created honor for Iranian nation," Ayatollah Khamenei added.

In reference to his visit to South Pars Oil and Gas fields development projects last year, Ayatollah Khameneisaid, "At the end of the year designated as the Year of Economic Jihad, a visit to the research center about oil and gas indicated that the sector has effective impact on the economic progress.

Leader of the Islamic Revolution said that the outlook about the oil revenues must undergo a major shift and that the oil revenues must not account for source of income for the annual spending of the government. "The revenues must be spent for the progress and economic strength of Iran."

Ayatollah Khamenei recommended the officials to go ahead with the new strategy and the outlook to the oil revenues.

"Spending the oil revenues for the routine works of the country is unwise and is a major loss. We must regard the oil revenues as a heritage and treasury and adopt planning to make it a lasting capital. So, the revenues and the oil reserves will help bolster national economy."

IR Leader said that setting up National Fund for Development is a measure according to which 20 percent of the oil revenues must be deposited every year to support the oil industry. "This work has been initiated and must continue."

Ayatollah Khamenei said that under the current situation, the oil revenues turn as weak point to the oil producing countries, because, they sell oil in accord with policymaking of the western oil companies and do not make efforts to acquire advanced technology and indigenous know-how.

"The pockets of the rulers are being filled, but, there is no real interest, because, their oil reserves will finish someday and they will remain an underdeveloped country."

IR Leader said that the decision making on the amount of the oil output and the sale must go along national interest.

"Of course, we have made progress in this respect and God willing Iran will fulfill this policy in future and will set a pattern for the fellow oil producing countries."
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