Tasnim – Iranian Minister of Economic Affairs and Finance Massoud Karbasian appeared in the Parliament on Sunday, for an impeachment inquiry in the wake of skyrocketing prices in the country and devaluation of the local currency.


Karbasian attended an open session of the Parliament on Sunday and took the podium to answer the questions of a number of lawmakers complaining about his ministry’s performance and poor handling of the economic situation.

At the conclusion of the session, the parliamentarians are planned to vote for the motion to dismiss the minister.

Under the Iranian Constitution, lawmakers can impeach ministers when they deem it necessary. An impeachment motion can be submitted when it has at least ten signatures.

The lawmakers have also questioned the president’s performance, saying the administration’s mismanagement of the conditions has resulted in price hikes and diminishing purchasing power.

Iranian President Hassan 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.