Guilds Chief Censures Market Conditions

EghtesadOnline: Withholding products from the market is a punishable offense and it is the duty of supervisory bodies to monitor producers and distributors, and prevent violations, ISNA quoted the president of the Chamber of Guilds, Ali Fazeli, as saying.

News ID: ۷۸۳۱۹۳

08 July 2018

Fazeli said the term ‘hoarding’ is not appropriate for describing the current withholding of products by some companies. He attributed the ongoing reluctance to sell – different from hoarding in that the latter means refusing to sell a product in order for it to become more expensive – to the uncertainty in the market and fear of inability to replace the sold goods.

The domestic market is going through a rough patch due largely to the severe beating of the rial, the US decision to abandon the nuclear agreement between Iran and six world powers and to reimpose sanctions on Iran’s economy.

The chamber chief held the view that in order curb the rapid  and destabilizing fluctuations in the market, reasons behind actions like concealment should be analyzed and thoroughly dealt with, according to Financial Tribune.