Economy, Domestic Economy

Fabric Smuggling

Fabric SmugglingFabric Smuggling

About 500 million meters of fabrics are annually smuggled into the country, said Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh on Monday, adding that annual domestic demand currently stands at 1.3 billion meters, 800 million meters of which are produced domestically. The minister underscored the provision under which complete tax exemption is granted to manufacturers who invest their total profits in expanding production and said the incentive is aimed at propping up domestic industries, Mehr News Agency reported.