Sunday, August 25, 2019 10:42

Customs rule changes to help import of crucial drugs

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Iranian customs authorities have announced that medical drug importers will be allowed to clear their back-up goods through customs if they have bank guarantees for money owing.

The Mehr News Agency reports that according to these authorities, a delegation comprised of Ministry of Health and Central Bank representatives has been set up at customs, and all importers who have not been able to clear their goods due to liquidity problems will be given a chance to do so by providing bank guarantees.

Importers are instructed to go directly to customs, where all the necessary paperwork will be processed.

Recent reports indicated that a large volume of imported medical drugs has been piled up in customs because the Central Bank insists that importers pay the difference between the subsidized exchange rate for foreign currencies, with which they were bought, and the current market exchange rate.

The Central Bank has dropped its policy of providing subsidized exchange rates for medical drug importers.

Reports say 330 tons of drugs have been sitting at customs, with importers unable to raise the cash demanded by the Central Bank.