Reservations About Future of Currency Subsidy Policy

The government’s plans to end subsidized currency for importing basic goods will expose companies to increasingly higher working capital needs.
Head of the Agriculture Commission of Tehran Chamber of Commerce Industries Mines and Agriculture (TCCIM), Kaveh Zargaran, made the statement in a meeting with the Agriculture Minister Javad Sadati-Nejad on Tuesday.
In the past three years the government gave subsidized currency for importing basic goods. Under the apparently failed scheme the dollar was sold to importers for 42,000 rials -- the rate was almost a seventh of the value in the open market.