Iran president instructs government to tackle ‘unreasonable’ high prices
By Trend
Iranian President Hassan Rouhani has instructed his
administration to take all the necessary measures to combat
“unreasonable” high prices in the country, the Iranian
administration's spokesman said.
“The government is responsible for meeting the basic needs of
people and it will step in whenever people’s interests are at
stake,” Mohammad Baqer Nobakht said on June 20, according to Tasnim
news agency.
Stressing that the high prices might be a bubble, he said, “The
president held a meeting yesterday during which he called upon
officials and private sector’s activists to step in and stop the
unreasonably high prices in the market”.
Nobakht said that all middlemen and speculators should be aware
that the government will not abandon its policy with respect to
foreign exchange market and that the value of the US dollar will
not go up unreasonably.
Imports of unnecessary goods and those produced inside the country
will be halted and the state’s foreign currency will not be
allocated to them, he said.
On April 9, Iran unified the country’s official and open market
exchange rates after its currency, the rial, plunged to an all-time
low on concerns over a return of crippling sanctions.
The US dollar jumped in a day from 54,700 rials to 60,000 rials in
the open market in Tehran at the time. A dollar was worth 36,000
rials in mid-September.
After an emergency cabinet meeting, Iran’s First Vice President
Eshaq Jahangiri was quoted by the state media as saying that from
April 10 the price of the dollar would be 42,000 rials in both
markets, and for all business activities.
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