TEHRAN, Iran, July 19. The Iranian ministries of petroleum and industries are planning to control the soaring price of basic materials in the petrochemical market to solve the production issue in the industry, said the Minister of Industries, Mine and Trade Reza Fatemi Amin, Trend reports citing Mehr News Agency.
"We had negotiated with the Ministry of Petroleum to control the basic material market for petrochemical production as we did for the steel market," he said.
The official has indicated that the two ministries will review the challenge of basic materials in petrochemical production by interacting with big businesses and using a tracking system to control the prices.
Iran plans to boost petrochemical production capacity by 54 percent during President Ebrahim Raisi's administration, from the current 91 million tons to 140 million tons.