Iranian parliament (Majlis) allows private sector to import oil products

Iran Materials 2 May 2011 11:27 (UTC +04:00)

Iranian parliament (Majlis) approved a bill allowing the private sector to import and supply oil products to the domestic market-MNA reports.

In the amending process of the current year budget bill, Iranian parliament agreed by importing oil products and selling it based on free market price via private sector. The act stresses that the private sector should observe quality and international standards of importing products.

Heretofore, only the government could import oil products, but by implementing the subsidy reform plan from five months ago, market conditions have changed and era is now ready for private sector to play a new role in Iran market.