Industrial Productivity Growth Low Despite Rising Power Consumption

Power consumption of industries has increased by 12% since the beginning of the current fiscal in March compared to a year ago, but the rise has not transformed into decent productivity growth, head of the Mining and Mining Industries Commission of Iran’s Chamber of Commerce, Industries, Mining and Agriculture said.
“More than 50% of manufacturing units in industrial towns are either closed or work at half capacity. As such, rise in power consumption has little, or nothing, to do with their productivity growth. What it does show is that most of the machinery is old and have outlived their usefulness,” Bahram Shakouri was quoted as saying by Barq News.
Industries have used 42 billion kilowatt hours of electricity over the last six months. However, the annual gross domestic product has been declining in the period, he noted.