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Head of the Management and Planning Organization (MPO), Hamid Reza Baradaran-Shoraka announced that the government has calculated the price of oil at US$19 a barrel for the budget for the fiscal year March 2005-2006 to prevent a possible deficit in the event of a drastic price decrease.

Deputy Minister of Industries and Mines for Production Affairs, Ahmad Doust-Hosseini, said that the petrochemical industry is currently the only sector fully controlled by the state, stressing, however, that petrochemical import tariffs are near zero

Iran's sixth provincial stock market and the eighth nationwide was inaugurated in the central city of Yazd. Economy Minister Seyyed Safdar Hosseini, Secretary General of the Stock Exchanges Hossein Abdeh-Tabrizi, Yazd governor general as well as several top provincial officials attended the inaugural ceremony.

forecasted on 17 August 2004 an EPS of Rls 427 (4.97¢) for the financial year 1383 (ending 20 March 2005).

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