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Iran Parliament Passes New Law for Regulating Automotive Sector

One of the clauses of the new law requires carmakers to mention production costs, profit margin and the final price of each model and deliver the document to the Competition Council
Iran Parliament Passes New Law for Regulating Automotive SectorIran Parliament Passes New Law for Regulating Automotive Sector

The Iranian Parliament on Sunday passed a law on regulating the country’s automotive sector months after a turmoil spiked car prices to unprecedented heights.
In a talk with Majlis news outlet ICANA, Bahram Parsaei, an MP from Shiraz said, “As per one of the clauses, for each model, carmakers are required to document production costs, profit margin and the vehicle’s final price and deliver the document to the Competition Council.”
If the carmakers fail to comply with this clause, their managers can face a two-year prison sentence.
Of the 227 lawmakers attending the parliamentary session, 149 MPs voted in favor of this clause, 26 voted against and nine abstained.

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