Price Hike Blamed on Lack of Monitoring Over Production Units

EghtesadOnline: "The recent increase in commodity prices in Iran has resulted from insufficient monitoring over production units."

News ID: ۷۸۳۳۲۳

18 July 2018

This was declared by the heads of several provincial chambers of commerce on the sidelines of a meeting held on Saturday, IRNA reported.

The Ministry of Industries, Mining and Trade launched the “Intensified Fight Against Hoarding and Stashing Taskforce” on Saturday to maintain market balance by supervising imported commodities or ones produced using imported raw materials that have been purchased using subsidized foreign exchange rates and to prevent disruptive activities in the market, including hoarding and stashing.

“The monitoring will not take the shape of policing or prosecution,” Deputy Industries Minister Hassan Younes Sinaki said, adding that the current state of the country’s economy calls for new studies on monitoring and novel approaches to tackle the issue, which will be chosen as per the suggestion of professionals in the field, Financial Tribune reported.