Modiran Khodro CEO denies currency and valuation allegations

Bahram Shariat, CEO of Modiran Khodro, has denied recent allegations regarding currency violations, improper part procurement, and inflated CKD (Completely Knocked Down) valuations. Speaking to journalists, Shariat stated that all company purchases are made from foreign manufacturers and that contract amounts align with official Ministry of Industry, Mine and Trade records.

Shariat emphasized that no intermediary companies owned by him or his family were involved in these transactions. He noted that the company's foreign exchange performance over the last 15 years has undergone audits with no issues found. Furthermore, he claimed the company did not seek preferential currency and has instead focused on exporting and bartering, generating approximately one billion dollars in value.

Looking forward, Shariat highlighted the company's goal to transition from simple assembly to a knowledge-based automotive manufacturer, citing a production record of 180,000 units in the previous year and plans for industrial park development.