Iran’s Parliament to Impeach Economy Minister

TEHRAN (Tasnim) – Iranian Minister of Economic Affairs and Finance Massoud Karbasian will appear in the Parliament on Sunday, August 26, for an impeachment inquiry in the wake of skyrocketing prices in the country and devaluation of the local currency.

Karbasian will go to the Parliament to answer the questions of a number of lawmakers complaining about his ministry's performance and poor handling of the economic situation.

Under the Iranian Constitution, lawmakers can impeach ministers when they deem it necessary. An impeachment motion can be submitted when it has at least ten signatures.

The lawmakers have also questioned the president’s performance, saying the administration’s mismanagement of the conditions has resulted in price hikes and diminishing purchasing power.

Also, Iranian President Hassan Rouhani will appear in the Parliament on August 29 to answer a series of questions on his administration’s performance.

The Iranian money, rial, plunged to a record low against the US dollar this month. There has been growing demand for dollars among ordinary Iranians, who fear more plunge in the value of their assets and growing price of goods, even those not imported from abroad.

Foreign currency values began to rise in Iran after the US withdrew from the Iran nuclear deal in May and announced plans for a fresh wave of sanctions against the Islamic Republic.

In comments on August 13, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said the economic problems are not wholly caused by the foreign sanctions, but a series of internal issues and mismanagement are also to blame.

Making a reference to the hike in gold coin prices and devaluation of the Iranian money in recent weeks, the Leader said part of the problems are caused by imprudence and mismanagement, irrespective of sanctions.

Reiterating the need for serious fight against corruption, the Leader said the Islamic Republic takes a tough line against corruption without any reservation.

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