Parliament Representative: No Goods Imported Despite $3.5 Billion Allocated for Imports

The head of the Iranian Parliament's Economic Commission states that in the first ten months of the current year, no goods have been imported in exchange for a quarter of the allocated foreign currency resources for imports, leading to the formation of over four thousand currency violation cases. In an interview on the 21:00 news segment of Iran's state television on Thursday evening, January 17, Mohammad Reza Pourabrahimi mentioned that for $3.5 billion allocated for imports in the first ten months of 2018, no goods have entered the country, which constitutes about a quarter of the total foreign currency resources allocated for imports during this period. He added that 4,200 violation cases have been formed in this regard, but did not comment on the status of these cases or their processing stage. Shariatmadari: $250 billion worth of goods have been ordered for import in the past four months. Since the beginning of this year and following an unprecedented surge in currency prices in Iran, government officials allocated a rate of 4,200 tomans for imports to mitigate the impact of rising currency prices on goods. However, reports have emerged regarding the misuse of the allocated currency by some importers, who have been accused of selling goods imported with government currency at free market rates. Additionally, it has been reported that some companies importing essential goods have either diverted the 4,200 toman currency for other uses or sold it at free market prices. Law enforcement and judicial officials have reported the formation of cases related to currency and imports in recent months. In late June, the head of Iran's General Inspection Organization announced that a car ordering website had been hacked, resulting in the illegal import of about five thousand high-end and expensive cars, of which around four thousand have been cleared and entered the market. The Deputy Chief of the Judiciary also reported in early August the formation of cases against 40 companies and the summoning of the CEO of the Social Security Investment Company regarding 'violations' in the import of mobile phones with government currency. The extent of misuse of government currency reached a point where the Tehran prosecutor warned import companies on August 8 that if they sell their goods at free market prices despite receiving the 4,200 toman currency from the government, they could face prison sentences of five to twenty years or even execution. This judicial official later stated in September that three government officials have been arrested in connection with the currency and goods market. The investigation into violations related to currency, coins, and goods, which is being conducted at the request of the head of the judiciary and with the approval of the Supreme Leader, has so far implicated several senior government officials. While Valiollah Seif, the former head of the Central Bank of Iran, is banned from leaving the country due to investigations in this area, Ahmad Iraqchi, his former currency deputy, is the highest-ranking government official arrested in connection with currency and goods issues.