Iran’s Expediency Discernment Council has authorized the government and the state management apparatuses, including the Central Bank, to spend 13.6 billion euros at a preferential exchange rate for the import of basic items such as agricultural products, medicine and its raw materials as well as medical equipment.

The council members took the decision on the import fund allocation while meeting on Wednesday under the chairmanship of Ayatollah Amoli Larijani to discuss and review the budget for the next financial year.

They stressed that the government would offer preferential rates for clearing or exchanging foreign resources resulting from the export of oil, gas, and gas condensates for the import of “only basic agricultural goods and medicine”, the list of which, will be approved by Council of Ministers by the end of April.  

According to the report, the imports will be overseen by a working group consisting of the first vice president, the head of the central bank, the head of country’s planning and budget organization, the minister of economic affairs and finance, the minister of agricultural as well as the minister of mining industry and trade.

The Minister of Health along with other relevant bodies are also required to implement and monitor the allocation, distribution, and use of currency for medicine and equipment.

In addition, the central bank is obliged to prepare monthly reports on the implementation of the Clause 4(A) of the Budget Law.  

DID/IRN