Minister of Trade: Subsidy Reform Plan is the Best Solution for Dodging Sanctions Reviewed by Momizat on . Rating:
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Minister of Trade: Subsidy Reform Plan is the Best Solution for Dodging Sanctions

Iranian Minister of Industry, Mines and Trade Mehdi Ghazanfari Iran

30 months ago, Iranian government launched the first phase of subsidy reform plan in the country. Economists argue that the plan was an absolute failure for the government of Mahmoud Ahmadinejad, as Iran is experiencing major difficulties due to international sanctions on its fragile economy.

Iran’s Minister of Industry, Mines and Trade Mehdi Ghazanfari says the Islamic Republic will tackle the current economic problems by starting the next phases of subsidy reform plan in near future. “According to studies conducted by Trade Ministry, subsidy reform plan is the best solution for circumventing embargoes.”

Although a number of factories and companies were forced to close down because of fluctuations in markets, Ghazanfari believes that the overall result of the plan was positive for the whole country. “In the first phase, some people faced with hardships and troubles. But this is normal as we operated the biggest surgery to the nation’s economy.”

Iranian government has previously promised to allocate low-interest loans and incentives to local companies by launching the subsidy reform plan. Mohammad Hossein Aghakhani, an Iranian economist, says the government didn’t pursue its promised policies in this regard. “To be honest, subsidy reform plan didn’t have any positive results for the people.” Aghakhani told the Herald Boy.

Members of parliament are currently considering the proposal submitted by Iranian government regarding the second phase of subsidy reform plan, which is expected to be launched by next government under Hassan Rouhani.

Rouhani has announced that he will follow the footstep of Ahmadinejad but with new economic policies. The Iranian targeted subsidy plan was passed by the Iranian Parliament on January 5, 2010.

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