Iran conducts 30,000 daily inspections to control prices

18 November 2019 11:05 (UTC+04:00)

By Trend

Deputy minister of Industry, Mines and Trade announced that 30,000 inspections are conducted daily to control prices and make sure there is no shortage in the market due to hike in petrol price.

As many as 4,000 inspectors from the Consumer and Producer Protection Organization will conduct 30,000 inspections nationwide to control prices, Hossein Modares Khiabani said at a special meeting of the Market Regulatory Council on Nov. 17.

The deputy minister added that the special market regulation offices as well as heads of industry, mining and trade organizations will also conduct raids in the other provinces to monitor the prices.

The official pointed out that there is no shortage of goods in the country and there is no problem in supplying essential goods. Iran chamber of commerce also supports the monitoring project to prevent price hikes.

“We are looking for a solution to the problem of fuel for trucks,” Khiabani said adding that one of the issues is public transportation, which has been coordinated with the Ministry of Oil.

“The petrol quotas must include all public transport vehicles,” he noted

According to decision on Nov.15, vehicles for private use are to be restricted to 60 liters (16 gal) of fuel monthly, while the price of petrol will jump 50 percent to 15,000 Iranian rials (35 cent) a liter. Any fuel purchases in excess of allotted rations will incur an additional charge of 30,000 rials (71 cent) a liter.

The moves prompted fears of households facing further economic pressure in a country whose economy is forecast to shrink by 9.5 percent this year.

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