Tehran, Iran, June 22
Trend:
Iran has allocated official foreign currency rate of 42,000 rial per dollar to private dairy and ice cream company to import basic goods.
"Mihan Dairy and Ice cream company has received official foreign currency rate to import basic goods," said Abolfazl Paydari the company's CEO, Trend reports citing ILNA.
"The company has obtain official foreign currency rate to import butter, and all the rates are based on official prices of Consumers and Producers Protection Organization," he added.
"The current sanctions situation has created difficulty for our long term planning. However, Mihan company continues its work and currently employs 17,000 people. This figure will increase up to 20,000 by the end of current year (started March 21, 2019)," he noted.
Following the re-impose of US sanctions against Iran, the country's Central Bank (CBI) has launched Forex Management Integrated System (NIMA), to manage foreign exchange market by returning exports foreign currency revenues and help importers by allocating official foreign currency rate. However, new regulation has sparked some debates in the country’s private sector and by the traders.