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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.
 

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04/26/2018
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