• About
  • Contact Iran News Wire
Tuesday, March 2, 2021
Iran News Wire
  • Home
  • News
  • Iran Protests
  • Iran Economy
  • Human Rights
  • Articles
  • Infographic
    • Infographics Gallery
  • Videos
    • Videos Gallery
  • Reports
No Result
View All Result
  • Home
  • News
  • Iran Protests
  • Iran Economy
  • Human Rights
  • Articles
  • Infographic
    • Infographics Gallery
  • Videos
    • Videos Gallery
  • Reports
No Result
View All Result
Iran News Wire
No Result
View All Result
Home Iran Economy

Iranian MP: government takes advantage of stock market

Iran News Wire by Iran News Wire
January 17, 2021
in Iran Economy
0
Amir Hossein Ghazizadeh

Iran’s Deputy Speaker of Parliament said yesterday that the government had taken advantage of the country’s stock market which has been mostly in the red for the past few days.

“The government has been inadequate, has had misconducts and has taken advantage of the stock market,” Amir Hossein Ghazizadeh said in comments carried by the state-run Mehr News Agency.

He also said, “necessary inquiries should be carried out”.

Speaking to reporters on Saturday, Ghazizadeh said stock market companies’ assets has had a sharp increase despite the lack of economic activity because of liquidity.

“If you see stocks falling it is because of fear in the market, wrong polices, and because large companies take advantage of the stock market so they can buy stocks at a lower price,” said the Deputy Speaker of Parliament.

He said current conditions were not natural.

“If the government and the Stock Exchange Organization had done their jobs, stocks would have surely grown,” he added.

Ghazizadeh claimed that the stock market would improve with the decrease of the exchange rate, and the decline of other markets such as gold and real estate.

“The difference between the (government) exchange rate, 4,200 tomans to the dollar, and the free exchange rate (23,100 tomans) is the main factor behind economic corruption and abuse,” he said.

“In the case of government fixed exchange rate of 4,200 tomans to the dollar and the money that was taken out of people’s pockets went into the pockets of the financially corrupt and in the end, goods were sold to the people with the free exchange rate,” he added.

Ghazizadeh also added that balancing the exchange rate and controlling inflation requires the establishment of an integrated system.

“We should know if there is a proper method for this, and if not, we cannot change the prices ourselves,” he said.

In October 2020, there was a shortage of insulin in pharmacies across Iran. State-run media reported that the Head of Health Economic Commission of the Tehran’s Chamber of Commerce said that insulin was not the only drug smuggled out of the country.

“All expensive drugs are smuggled,” Mahmoud Najafi Arab said.

He said the reason behind the trafficking of medication was due to fixed government exchange rates which enables the import of drugs at low prices. Traffickers then export the drugs at normal exchange rate prices. 

In November 2020 and January, stock market investors held several protests for consecutive days to demand their lost savings.

Jan. 9- Tehran, #Iran
Stock market investors protested outside the Securities & Exchange Org. to demand their lost savings. The regime misled Iranians to invest in stocks, & used the money to compensate for its budget deficit.
"Down with embezzlers!" #IranProtests pic.twitter.com/1LfmXoTroU

— Iran News Wire (@IranNW) January 9, 2021

In comments carried by the IRGC affiliated Tasnim News Agency on October 20, 2020 Minister of Finance Dejpasand implied that the government used the stock market to compensate for its budget deficit.

“I would like to inform you that fortunately, as a result of the measures devised by the government, in the last six months, we have been able to make up for the shortfall of our resources from the sale of securities and the transfer of shares of state-owned companies.”

In an October 3, 2020 article, the state-run Aftab-Yazd daily also stated that Iran used the stock market to make up for its deficits.

Tags: Iran Economy
ShareTweetPinShare
Previous Post

How the IRGC is gearing up for more control in Iran

Next Post

Former MP tells regime “forgetting people will fuel crisis, protests, unrest”

Related Posts

Poverty in Tehran's District 4
Video

Poverty in Tehran’s District 4 – Video

February 21, 2021
workers can’t afford meat
Iran Economy

Iran Labor Union: workers can’t afford meat, rice and legumes

February 11, 2021
Isa Kalantari
News

Iranian official: Iranians must choose between electricity and pollution

February 8, 2021
Next Post
November 2019 anti-government protests in Iran

Former MP tells regime “forgetting people will fuel crisis, protests, unrest”

Mahmoud Chaharbaqi

Qasem Soleimani's sole mission in Syria: Keep Assad in power

Tags

Ali Khamenei (31) Arbitrary Detention (7) Esmail Bakhshi (10) Finger Amputation (11) Fuel carriers (11) Haft Tapeh Sugarcane Company (7) Human Rights Violations (5) Iran's arbitrary killings (29) Iran's COVID-19 outbreak (86) Iran arrests (11) Iran civil liberties (14) Iran Economy (99) Iran Education (12) Iran executions (34) Iran flogging (24) Iran floods (26) Iran human rights activists (6) Iranian Baha'is (13) Iranian Christians (6) Iran internet ban (7) Iran National Steel Group workers (5) Iran pensioners (6) Iran plane shootdown (6) Iran political prisoners (90) Iran porters (11) Iran poverty (83) Iran prisons (6) Iran Protests (244) Iran protests 2019 (28) Iran regime change (27) Iran religious discrimination (10) Iran sanctions (12) Iran suicides (11) Iran torture (80) Iran truck drivers (6) Iran unemployment (7) Iran workers (16) Islamic Revolutionary Guards Corps (IRGC) (28) JCPOA (5) Killed under torture (6) Kolbar (9) Navid Afkari (10) Qasem Soleimani (12) Religious minorities (20) Sistan and Baluchestan Protests (9)

Don't Miss

Four Arab Ahvazi political prisoners executed in SW Iran

Four Arab Ahvazi political prisoners executed in SW Iran

March 1, 2021
Sistan-Baluchestan protests

Protests in SE Iran are just the tip of the iceberg

March 1, 2021
Sistan and Baluchestan protests

Protesters beaten and detained in volatile SE province

February 28, 2021
Sistan and Baluchestan protests- fuel carriers

A look into Iran’s Sistan and Baluchestan protests and the underlying reasons

February 27, 2021

Recommended

Locals take over IRGC base in SE Iran

Protesters take over IRGC base in SE Iran after Guards kill dozens of Baluch “fuel carriers”

6 days ago
Don’t be fooled by Khamenei’s COVID-19 conspiracy theories

Iranian regime seems confused in Biden’s US

2 weeks ago
public flogging iran

Man and woman accused of adultery sentenced to lashes in Tehran

2 weeks ago

About Us

Iran News Wire is home to real news on Iran. We are dedicated to honest and reliable reporting.
We aim to be the voice of the Iranian people and their protests for freedom and democracy at a time when the Iranian government wants to silence dissent and suppress their voices for democracy.
Our network incorporates sources from inside the country as well as those outside of Iran.
We advocate regime change for a free Iran that will end government corruption, environmental disasters, as well as human rights violations, carried out systematically by the Iranian regime.

Contact us for more information on the latest news on Iran protests, human rights violations, and the state of the economy.

The Latest on Iran

Four Arab Ahvazi political prisoners executed in SW Iran

Four Arab Ahvazi political prisoners executed in SW Iran

March 1, 2021
Sistan-Baluchestan protests

Protests in SE Iran are just the tip of the iceberg

March 1, 2021
Sistan and Baluchestan protests

Protesters beaten and detained in volatile SE province

February 28, 2021
Sistan and Baluchestan protests- fuel carriers

A look into Iran’s Sistan and Baluchestan protests and the underlying reasons

February 27, 2021

Categories

  • Articles
  • Human Rights
  • Infographic
  • Iran Economy
  • Iran Protests
  • News
  • Reports
  • Video

Follow us

Subscribe to our newsletter

    • About
    • Contact Iran News Wire

    © 2021 Iran News Wire

    No Result
    View All Result
    • Home
    • News
    • Iran Protests
    • Iran Economy
    • Human Rights
    • Articles
    • Infographic
      • Infographics Gallery
    • Videos
      • Videos Gallery
    • Reports

    © 2021 Iran News Wire

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms below to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist