Page 431 - PERSIAN 8 1931_1940_Neat
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           hands of various Companies which monopolise trade. Exchange Control
           also has come into force under which the official buying rate for sterling
           was fixed at 80 rials to the pound and purchase of foreign currency could
           only be effected by Banks on behalf of the Exchange Control Commission
           in Tehran, while sales were only under Government permits issued by the
           Commission after long delay. This has had a detrimental effect on the
           foreign exchange turnover of Banks and it has seriously affected all import
           business
               Silver coinage has been out of circulation for most of the year. Owing
           to the restrictions on foreign trade, Banks report that current account depo­
           sits have increased considerably. Some of the surplus has been invested
           in trading companies and industrial enterprises.
               No new taxes have been introduced during the year, but a new Customs
           Tariff contained several increases including charges on motor vehicles, im­
           port and working of which has become a Government monopoly. This has
           not reduced the cost of services to the public, while both new and second­
           hand cars have increased in price.
               Piecegoods, sugar and tea continue to be the principal imports. They
           are all handled by monopoly organisations controlled by the Government, in
           which local merchants have little share. Retailers of piccegoods expect
           shortly to be put out of business by the opening of shops by the Cotton
           Piecegoods Monopoly Company.
               Export of opium has been considerably restricted. Carpets were
           shipped freely by merchants until the end of the year when all transactions
           became a monopoly of the Carpet Monopoly Company. Gum tragacanth,
           almonds and dried fruits have also become the objects of monopolies during
           the year given to Central Companies in Tehran. Agricultural products in
           general are now controlled by interests centred in the Capital and most of
           the profits go there.
               The following Companies have been reported to have been formed dur-*
           ing the last two years to handle commodities of interest to the Shiraz
           trader :—
                 Sherket-i-Tijareti (general import and export).
                 Sherket-i-Sheker-wa-Cand (sugar and match import and trade, with
                       a subsidiary organisation to handle tea, which is not yet in
                       working order).
                 Sherket-i-Panbeh (growing and export of cotton).
                 Tasbit-i-G-halleh (wheat growing and purchase)..
                 Sherket-i-Pust Narm (export of skins).
                 Sherkat-i-Qumash (import and trade in cotton piecegoods).
                 Sherket-i-Ketirah (export of gum tragacanth and gum arabic).
                 Sherket-i-Khoshkbar (export of dried fruits, almonds, etc.).
                 Sherket-i-Khollar (wine making and trade).
                 Sherket-i-Khal (carpet trade).
                 Slierket-i-Sad'aret-i-Fars wa Banader (production and sale of native
                       crafts, silver, enamel, mosaic work, and hosiery).
               Most of the principal articles of trade are thus covered by these Com­
           panies. They are not well-managed. Directors and Managers are permit­
           ted to engage in private trade. They are inclined to behave as though they
           were above the Law and injured parties do not dare to take the matter to
           the Courts. Large profits are admitted to be made by buying imported
           goods and holding them off the market. This seems a curious way of spend­
           ing the tax-payers’ money which goes to finance such concerns. The control
           exercised by the Government over these Companies and their policy is loose.
           Meanwhile" all private trade is being throttled, taxes increase, the cost of
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