Iran Announces Key Reforms to Electronic Subsidy Card System to Stabilize Essential Goods Prices
In a significant move aimed at ensuring economic stability and protecting household purchasing power, key government and parliamentary figures have agreed on major reforms to the electronic subsidy card system. The changes are designed to shield essential goods from market volatility and guarantee consistent prices for recipients.
High-Level Meeting Yields Crucial Decision
The reforms were finalized during a pivotal meeting involving high-ranking officials, including Mr. Pourmohammadi, Head of the Planning and Budget Organization, Mr. Nouri, the Minister of Agriculture-Jahad, and Mr. Meidari, the Minister of Cooperatives, Labour, and Social Welfare. The discussions focused on streamlining the payment process for the electronic subsidy card, a key component of the nation’s social support system.
Fixed Exchange Rate to Anchor Prices
A central decision from the meeting was the establishment of a fixed pricing mechanism for goods supplied through the subsidy card. The goods will be calculated based on an exchange rate of 28,500 tomans, effectively insulating their cost from fluctuations in the free market rate of foreign currency. This measure guarantees that citizens will be able to receive these essential items at the same stable price for at least the next year.
Government and Parliament Align on Economic Stability
Shahbaz Hassanpour, a parliamentary representative, emphasized that this initiative reflects a renewed and robust coordination between the government and the parliament. He recalled a previous agreement from the current administration’s term to provide essential goods at prices from the month of Shahrivar 1400 (August-September 2021), a plan that was not implemented at the time. The current agreement, however, has been firmly established to bring stability to the market through a clear and fixed pricing structure for the subsidy card program.
Parliamentary Support for Market Stabilization
Highlighting the collaborative spirit, Hassanpour stated that the Islamic Parliament of Iran welcomes and is fully prepared to cooperate with any initiative that contributes to market stabilization and alleviates economic pressure on the people. This endorsement underscores the legislative body’s strong support for the government’s plan to supply goods at fixed prices via the electronic subsidy card.