Iranian lawmakers passed a motion that will see the years-long ban on import of cars lifted conditionally.
The decision was made at the open session of the parliament on Wednesday following the advice of the Guardian Council – an oversight body that ensures laws are in line with the Constitution and Sharia, IRNA reported.
As per the decision, imports of electric, hybrid, gasoline and compressed natural gas (CNG)-powered automobiles of certain emission and safety standards are allowed henceforth provided that domestically-made vehicles or related parts are exported in return so that no foreign currency is spent on the purchases.
Years of sanctions prompted the Iranian government to ban or restrict imports in a bid to economize on its foreign currency reserves. As import of basic goods have intensified over the years, entry of goods that have local counterparts in the market and those deemed “non-essential” have been kept in check. Cars were among the first of merchandise to face ban on import.
The MPs also decided that import of used cars are permitted provided that they are no older than three years (as of date of production).
The so-called Competition Council is to determine the ceiling for the number of imports every six months based on data about the gap between demand and supply over the past year.
