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Steps must be taken to prevent additional price increase and implementation of second phase of Subsidy Reform Law

Monday, 14 January 2013

President of Iran’s Chamber of Commerce, Industry and Mines, Mohammad Nahavandian ,sharply criticized the price increases in the market, adding that under the current circumstances, we cannot take any step that could lead to an additional surge in prices since inflation itself is sufficiently high. It would be unwise to implement new measures to continue implementation of the Subsidy Reform Law under current conditions. According to Nahavandian, one of the major ramifications and damage the foreign currency market has inflicted on Iran in recent months is the lack of trust in foreign currency transactions. Our important role is to protect the reputation of the economic activists, while allowing factors established by law, i.e. the Council of Money and Credit, to resolve the foreign currency issues. Nahavandian further added that price increases are partially unavoidable, but that prices cannot be raised on our own. The price increase on fuel is a serious problem that will strongly affect price hikes. He added that while no one opposes subsidy reform, an in-depth review of the ramifications of the first phase must be carried out and only then can the next phase be considered. It would be unwise to work to implement the second stage.

 

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  • Published: 2 days ago on Monday, 14 January 2013
  • By: Iran Daily Brief
  • Last Modified: January 14, 2013 @ 4:09 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://www.mehrnews.com/fa/newsdetail.aspx?NewsID=1789477

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