Iran’s parliament dismisses economy minister

By  Trend

Iranian Minister of Economic Affairs and Finance Massoud Karbasian failed to win a vote of confidence in an impeachment session in the parliament on Aug. 26.

Karbasian appeared in the parliament on Sunday, for the impeachment inquiry in the wake of skyrocketing prices in the country and devaluation of the local currency.

In the 290-seat parliament, 260 MPs were present in the voting session for the minister.

Iran’s Tasnim news agency reported that 137 lawmakers voted in favor of Karbasian’s dismissal, while 121 voted against the plan to dismiss the minister. Two lawmakers abstained.

The Iranian MPs have also questioned President Hassan Rouhani’s performance, saying the administration’s mismanagement of the conditions has resulted in price hikes and diminishing purchasing power.

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 the 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.