Production will not be affected by $24b of imported goods: Iranian minister

TEHRAN,May 3(MNA) – Iranian Economy Minister Shamseddin Hosseini said on Tuesday that a cabinet approval to import 24 billion dollars of basic goods this year (which began on March 20) will have “no negative effect” on domestic production. First Vice President Mohammad Reza Rahimi announced on Monday that the cabinet has approved a bill allocating 24 billion dollars for importation of basic goods such as rice, cooking oil, meat, rice, etc. The announcement came as food prices has started rising over the past few weeks. The announcement faced some criticism by some economic experts and officials including Akbar Hashemi Rafsanjani, the Expediency Council chief. “In the past years, to regulate the market, we did such things (as well) and this point that some say this rate is more than the previous years in not correct,” ….told reporters after a cabinet meeting. “This has been done in order to provide basic goods… and regulate the market and we will see its effect on modifying prices in the market in the future,” he added.