TEHRAN, Iran, Oct.18
Trend:
The increase of foreign currency rate in Iran would create problems for industry and producers, would lead to corruption in the market, said the head of commission to fight corruption in Tehran Chamber of Commerce Hassan Forozanfard, Trend reports citing ILNA.
"Increase of foreign currency rate would lead to corruption in the market since the chaos would challenge industry and services in various areas," said Forozanfard.
"It's better to prevent the significant devaluation of national currency instead of reforming foreign currency rate, since the devaluation would interrupt Iran's international transactions," he said.
"Producers should now how much they depend on import of basic materials, each unit is different and they have reduced their production due to shortage of basic materials and machinery parts," Forozanfard said.
"Devaluation of national currency would limit producer's access to basic materials that are expensive to import and reduce production volume," he added.
"The livestock sector is for instance is one of the producing industries that has reduced production due to increase of foreign currency rate, and this would soon be reflected on the price of goods, he said.
"Producers have different criteria in terms of costs and production capacity, and the decline of production would interrupt the proportion, so the producers would face more losses," said the official.