Iran`s Majlis calls for full implementation of Economic Reform Plan in Iran

TEHRAN, Dec. 29(MNA) – A number of parliamentarians called on Iranian President Mahmoud Ahmadinejad to fully implement the Economic Reform Plan.

According to the Economic Reform Plan, the country’s stock market, banking, tax, customs, social security, subsidy, and public transportation systems should be reformed and the private and production sectors should be strengthened in order to pave the way for a booming national economy.

High-profile subsidy reform plan, touted as the overhaul of the economy, went into effect on December 19, but the administration has not yet implemented the reforms in other economic areas.

The subsidy reform plan calls for the subsidies on fuel, electricity, and certain goods to be cut over the course of five years. The administration has decided to pay cash subsidies for an undetermined period of time to compensate low-income families for the inflationary repercussions of the plan.

Experts believe if the subsidy reform plan is implemented inefficiently it can negatively affect the national economy and people’s standard of living.

They also maintain that economic reforms in various areas should be put into practice simultaneously and harmoniously, otherwise the imbalance may take a heavy toll on the national economy