Following the launch of a subsidy reform initiative in Iran, a lawmaker says anti-Iran sanctions cannot impede the implementation of the plan.

“Threats and sanctions will not only fail to hinder the implementation of the targeted subsidy
[reform] plan, but can be seen as an opportunity to foster our country's economy,” IRNA quoted Mahmoud Ahmadi Biqash as saying on Sunday.
“With the support of the Iranian nation, this
[subsidy] law will be enforced well,” said Biqash, who is a member of the Iranian Parliament's National Security and Foreign Policy Commission.
Iranian President Mahmoud Ahmadinejad announced on Saturday the launch of his economic reform plan that is aimed at overhauling the country's economy by phasing out energy and food subsidies.
Under the plan which went into effect at midnight Saturday, all subsidies are to be gradually removed during a five-year period.
The subsidy cuts plan -- encompassing key consumer goods such as gasoline, natural gas, and food -- is said to be one of the most important undertakings in Iran's recent economic history.
Before the official announcement of the plan, every family member received a sum of 810,000 rials (USD 80) in cash subsidies for a two-month period.
Ahmadinejad has also vowed that the Iranian government would tackle economic problems such as housing, unemployment and improve the banking system through the reform plan.
According to the president, the initiative will lead to a better distribution of wealth among the public.
Officials say energy subsidies have cost the Iranian government around 100 billion dollars a year.
Some analysts have criticized the plan, saying it could trigger a hike in prices and stoke inflation in the country.
Others, however, argue that the plan is in line with recommendations from global financial organizations who advise Iran get rid of a heavily subsidized economy if it wants to solve its economic problems.
Iran's Interior Minister Mostafa Mohammad-Najjar has also announced that the plan will have no economic repercussions.
Contrary to some speculations, he gave assurances the plan will increase the purchasing power of the nation.
(Source:IRNA)