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CBI allocates $1b for car imports
He also added that it is a fixed policy by the CBI to provide foreign exchange to import cars that will continue by the end of the current Iranian year (March 20, 2025) and also next year.
Economy Minister Abdolnaser Hemmati wrote on his X page that the barriers facing car imports have been removed by President Masoud Pezeshkian’s decision which was made in a meeting of the Economic Council on Sunday. All [domestic] industries have to compete with their foreign rivals, according to Hemmati. The Islamic Republic of Iran Customs Administration (IRICA) has recently announced that 20,000 passenger cars (sedans) had been imported since the beginning of the current Iranian year (started March 20, 2024).
IRICA put the value of the passenger cars imported into the country in this period at $390 million. A total of 1,647 passenger cars, valued at $35 million, had been brought into the country from March 21 to September 22, 2023, IRICA added.