Pourabrahimi: $3.5 Billion in Currency Resources Has Disappeared

The head of the Economic Commission of the Islamic Consultative Assembly has reported the "disappearance" of approximately $3.5 billion in currency resources, stating that despite this amount being allocated for the import of essential goods, no goods have been delivered so far. Mohammad Reza Pourabrahimi announced "widespread violations" in the area of exports and imports in Iran, indicating that this amount had been allocated for the import of essential goods "in recent months," but "so far the desired goods have not been delivered, which is why legal cases have been filed for 4,200 individuals." He did not provide details about these cases, but introduced the delivery time frame for goods in Iran as "six months," adding that while "some importers may face limitations due to delays," even if "we give these individuals time, nothing will happen." This representative criticized the lack of a unified system for credit assessment and ranking of economic actors in recent years, which would have prevented smuggling of goods and currency, adding that as a result of this negligence, "business cards were issued whose holders' credibility was not verified." According to Pourabrahimi, "a large volume of exports from our country is carried out through disposable business cards, and it is unclear whether the holders of these cards will fulfill their currency obligations after exporting goods." He also praised the approval of a credit assessment system in the cabinet, stating, "We have received news that extensive lobbying has begun to cancel the merchant credit assessment plan," urging the government not to be "influenced by these pressures," given that the lobbyists "are trying to exploit disposable business cards." In another interview, the head of the Economic Commission stated that "about $10.5 billion of the currency account resources allocated to economic actors has not yet been settled." Pourabrahimi, who made these remarks based on a meeting with economic actors attended by the Governor of the Central Bank and the Ministers of Economy and Industry, Mining, and Trade, noted that half of this amount "is related to state-owned companies and half (5.2 billion dollars) is related to the private sector." He criticized the report for not distinguishing between companies that have not brought in any goods or raw materials since receiving currency ten years ago and those that have not committed any violations. This representative stated, "Those who received currency ten years ago and have not brought in any goods or raw materials should naturally be referred to the judiciary, and these individuals are violators and criminals." Following currency fluctuations in the Iranian market, Mohammad Javad Azari Jahromi, the Minister of Communications and Information Technology, took the unprecedented step of publishing a list of recipients of government currency for mobile imports, showing that out of 40 mobile importing companies with government currency, only 30 companies had imported mobile phones, and only with part of their received currency. Shortly after, the Central Bank of Iran published a list of 1,500 companies and individuals who imported goods with the government currency of 4,200 tomans, and Hassan Rouhani, the President of Iran, also criticized what he called the "abuse" of the allocation of 4,200 tomans. The Iranian government announced that some companies, despite being allocated "cheap" currency, either did not import the committed goods or engaged in price gouging. Following this, the judiciary, as the public prosecutor, became involved in the matter, and since then, numerous reports about the arrest of individuals accused in this regard have been published by the official news agency of the judiciary. Reports of receiving large sums as currency for importing essential goods and abusing it come at a time when in December of this year, two members of the Iranian parliament announced that despite allocating about 14 million dollars in government currency for importing essential goods, the prices of these goods have increased by 70 percent compared to last year.