Baku, YJC. IME Supervision and operation deputy said: “Base price reform prevents the price jumps and returns the balance to the market.”
According to the report from IME international affairs and
PR, based on the Rouhani government economic plan for a non-inflationary egress
from recession, IME has took its major role in market regulatory, reform of
price system in the first step during last month, this pricing system reform
not only has led to a true price discovery and cut the false demands, but also
has balanced the trade of different listed commodities of the exchange.
Mehrzad Namdari the deputy of IME has uttered that, based on
the current government development plan in order to non-inflationary egress
from recession; it has focused on shift of the regulatory role of governmental
entities and institutions from range price setting to market monitor,
supervise, decision making and determination of policies in competitive
conditions as well as just, true, transparent fair and price discovery through
IME trades.
He added that, by reform of base prices and price limits for
oil and petrochemical, metals and minerals products, practical result did not
cause price jump and for example, during last week, in the oil and
petrochemical trading floor, 62 percent of total volume of traded products
based on the base prices and 11 percent were remained without demand, so even
with the potential price change up to 10 percent, 73 percent of total volume
did not experienced the price growth.
Major Price difference was detected comparing of free market
and exchange price because of some commodities which have high demand comparing
to their related offers and private sector had not offered them in IME yet.
The deputy has said: balancing in the exchange prices and
minimizing the price gap by continuing offerings during upcoming weeks and
continuance of price discovery process based on the government plan for the
non-inflationary egress and private sector strongly highlights the government
role.
Financing the suppliers by offering of SALAM contracts in
IME, magnified and focused to the role of Exchange in achieving of government
goals for the country’s Macroeconomic.