Jan 06, 2019 09:51 Asia/Tehran

The Iranian parliament (Majlis) has passed a new legislation requiring all state-owned institutions, government departments and ministries to buy only Iranian manufactured products and services.

Iran Press/Iran news: According to an Iran Press report on Sunday, the new legislation was approved on Sunday morning, with 165 MPs voting in favour, 6 voting against, and 3 abstained from voting. In total, 218 MPs attended the open session of the Majlis on Sunday morning.

The new legislation requires all government-owned institutions,  departments, and ministries to purchase only domestically-produced goods and services, when replenishing their stocks and consumer items. Also they must only purchase Iranian-manufactured equipment and products for any projects they undertake, or for any major purchase of equipment.

An official list of all Iranian-manufactured products, goods and services has been published by the ministry of industry, mines and trade, and the list will be updated regularly.

The new legislation is meant to support Iran's manufacturing sector.

Also Iranian parliament speaker Ali Larijani called in December 17 for using the Economy of Resistance policies outlined by the Supreme Leader Ayatollah Seyyed Ali Khamenei to thwart the US sanctions.

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The next year's budget is 12% more than the budget for the current Iranian year (21 March 2018-2019), and it would envisage a total spending of around 433 quadrillion rials ($103 billion) from various sources including taxes, divesting state-run shares and selling oil.

The developers of the bill had in mind some major points including reducing the pressure posed by US sanctions on Iranians’ lives, supplying basic goods, and paying a specific attention to domestic production and job creation.

US President Donald Trump withdrew in May from a 2015 deal in which his predecessor and five other world powers granted sanctions relief to Iran in return for a freeze on its sensitive nuclear activities. 103/211


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