China remains Iran’s biggest trading partner.
China remains Iran’s biggest trading partner.
Thursday, April 26, 2018

Contraband Storage Imposing Heavy Burden on Economy

Thursday, April 26, 2018

Contraband Storage Imposing Heavy Burden on Economy

Some 100 trillion rials (over $2.38 billion) worth of confiscated contraband are being kept in warehouses, the fate of which has not been decided, the head of Majlis Industries and Mining Commission said.
Aziz Akbarian added that there are no plans yet to either destroy these products or to offer them in the market, this is while these goods are costly to store and they are drawing closer every day to their expiry date.
Reza Beheshtizadeh, an official with the Headquarters to Combat Smuggling of Goods and Foreign Exchange, said in March that more than 36.21 trillion rials ($810.38 million) worth of contraband were confiscated in Iran during the 10 months to Jan. 20, 2018, registering a 23.3% increase compared with the similar period of last year.
According to the commission's spokesman, Saeed Bastani, smuggling is now estimated to hover around $13 billion in Iran per year. 
Smuggling has had a downtrend since Hassan Rouhani took office as Iran’s president in August 2013.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/4ZRXxq
  1. https://goo.gl/t5ji2F
  • https://goo.gl/1zMd38
  • https://goo.gl/5JVDnY
  • https://goo.gl/uKiXQq
  • https://goo.gl/2BTScP

You can also read ...

CBI Outlines Top Priorities
The governor of the Central Bank of Iran, who took the reins...
Non-Oil Trade Value With Egypt Tops 80%
Iran traded 298,616 tons of non-oil commodities worth $128.23...
Colza Production Breaks 30-Year Record
Colza production in Iran since the beginning of the current...
Interest Rate Growth Gathers Pace
Two major banks have been allowed by the Central Bank of Iran...
IKCO to Deliver Presold Peugeot 2008 SUVs
Extending apologies for the prolonged delay in the delivery of...
Domestic Shoe Industry Hit by Raw Material Shortage
Domestic shoe production has declined by over 70%, the head of...
Rail Exports From Qom to CIS Grow 29%
More than 3,403 tons of goods were exported via railroads from...
Infrastructure Gets 10% of National Budget
As little as 10% of the national budget, i.e. less than 400...

Add new comment