Iran's energy sector review

Iran Khodro and Saipa have respectively raised the price of their products by 10 per cent and 18-20 per cent on average. According to the Mehr News Agency, the organisation for supporting consumers and producers has issued permission to increase the prices of Iran Khodro and Saipa products. Based on this permission, Iran Khodro and Saipa are allowed respectively to raise the aforementioned prices. On August 28, the vice chairman of the Majlis industry committee, Aziz Akbarian, told Mehr that the two car manufacturers were laying off their workforce due to heavy debts to hundreds of parts-making companies. According to him, the Money and Credit Council is planning to pay each of the two companies five trillion rials (some 400 million) in loans in order to prevent from sacking two million labourers. The price of products of the two Iranian giant carmakers grew to the extent that the Peugeot 207i, for example, was sold at 380 million rials (around $31,000) in Tehran on Septe

The collapse of Iran's national currency in value has been caused by the Iranian government's mismanagement of the economy, U.S. Secretary Department's Persian language spokesperson Alan Eyre told  Trend  in an interview on Oct.6. The USD rate in Iran suddenly increased from late September by 80 per cent compared to Iran's national currency the rial in the country's open market. This collapse in the rial's value caused the closure of the Forex exchanges, markets and people are protesting in Tehran. Adviser to Iran's supreme leader Ayatollah Ali Khamenei Gholamhossein Haddad Adel referred to the collapse as a 'conspiracy of enemies', saying Iran will defeat it strongly on Friday. After protests and demonstrations against the falling rial value, police clashed them and arrested dozens of currency speculators spoken of as 'market disrupters' on Wednesday. A day before the protests, Iranian President Mahmoud Ahmadinejad said during