Iran to replace some of import goods with domestic production
TEHRAN, Iran, March 26
Iran is to replace the mport of some necessary goods with those of domestic production in the new Iranian year (started March 20,2020), said the head of Plan and Budget Organization (PBO) Mohammad Bager Nobakht, Trend reports citing IRNA.
"Iran has assigned some $14 billion to import basic goods last Iranian year (started March,21,2019), so to reduce the costs partially on import needs in the new year , domestic capacities will be used, as well as knowledge based companies," said Nobakht.
"Considering the drop of oil price and fall of global demands, we would insist on reducing import costs by expanding domestic production and capacities," he said.
"There should be policies to support the consumption market and prevent possible oversupply of products," he said.
"The Agriculture Ministry and the Ministry of Industry, Mine and Trade will discuss their plans for production leap year at the next week's meeting," he said.