Shahram Kalantari, in the meeting "Establishment of a Credit Repayment and Online System in the Drug Supply Chain," referred to some ambiguities from the private sector regarding the executive mechanism of the Gham bonds, emphasizing the need for a clear, sustainable, and legal framework for implementing this plan.
The Necessity of Transparency and Connection Between Processes
He stated regarding the discussions about the electronicization of processes: The principle of using electronic processes and creating order in the financial flow of the chain is not opposed, but the connection between these processes and the Gham bonds and how this mechanism ultimately operates must be clearly defined for stakeholders.
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Stability and Predictability in Maturities
Kalantari pointed out the determination of a 6-month maturity for the Gham bonds, saying: If this tool is to be used in the drug supply chain, its deadlines must be clear and based on a fixed and legal rule; so that all links in the chain know that the Gham bonds will always be issued with what maturity.
He added: The conditions should not be such that today a 6-month maturity is determined and in the future, there is a possibility of increasing it to 8 months or a year; because the private sector needs stability and predictability for its financial planning.
Examining the Financial and Legal Impacts of Gham Bonds
The President of the Iranian Pharmacists Association further emphasized the necessity of examining the financial impacts of this mechanism and said: It should be clarified whether the use of Gham bonds truly solves the structural payment issues or merely postpones today's debts for a few months into the future.
He stressed that the costs of financing and the rates in the capital market should also be considered in the design and implementation of the model for the actors in the drug chain.
Kalantari also emphasized the necessity of having a clear legal backing for new financing tools and said: Any mechanism that is to be used for settling debts and credit circulation must have a clear legal status.
He referred to some plans based on tokenizing receivables and creating trading mechanisms for debts, calling for clarity on the legal basis of such methods and emphasized: Debts of entities should not enter new cycles without a clear legal framework, which could ultimately impose more costs or risks on stakeholders. The tokenization project being pursued by social security lacks a legal basis and effectively creates a parallel structure to the stock market, leading to greater disorder in payments.
The President of the Iranian Pharmacists Association concluded by stating: The principle of organizing, electronicizing, and creating credit circulation in the drug chain can be a positive step, but its success depends on transparency, stability of maturities, legal backing, and preventing the imposition of new costs on the private sector.
Kalantari also pointed to the necessity of quickly settling past and matured debts of insurance organizations and said: Any mechanism considered for insurance payments should not contradict the legal deadlines stated in Article 38 of the Law on the Amendment of Certain Provisions of the Financial Regulations of the Government 2.
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