MPs Shelve Bill to Abandon Import of Subsidized Goods

Contrary to expectations, the Iranian Parliament opposed the double-urgency motion bill on the revocation of subsidized foreign currency for importing essential goods, adding it to the parliament’s future schedule. 
This comes as some parliamentarians had talked of unanimity over the termination of the government’s allocation of subsidized forex for importing essential goods and pharmaceuticals, the Persian daily Etemad reported. 
Earlier this month, the chairman of Majlis Economic Commission had said the distribution of cheap forex only leads to corruption and rent-seeking practices, underscoring the importance of making a decision in this regard.
Lawmakers who oppose the cessation of payments of cheap subsidies to importers at the rate of 42,000 rials per US dollar believe that with an inflation rate of above 45% and prices of some pharmaceuticals going through the roof, the move would inflict yet another shock to the economy.