Iran's president to sell old car for charity

 

The sale comes at a time when Mr Ahmadinejad's government has cut energy and food subsidies 

Iranian President Mahmoud Ahmadinejad is to sell his 33-year-old car to raise money for a charity that funds housing projects for young people.

Mr Ahmadinejad was often seen in the white Peugeot 504 when he served as Tehran's mayor, but has rarely used it since becoming president in 2005.
It will be auctioned in February in the south-western city of Abadan.
Officials hope it will fetch more than the $2,000 (1,500 euros; £1,300) such cars sell for in Iran.

The head of Abadan's free trade zone, Asghar Parhizkar, told the Irna news agency the auction would take place during a classic car exhibition there.
The money raised would be allocated to the Mehr Housing Fund, he said.
The sale comes at a time when Mr Ahmadinejad's government has cut food and energy subsidies, raising the cost of living substantially.
It had been paying about $100bn in subsidies annually, but Iran's oil-dependent economy has been hit by four rounds of UN sanctions relating to the country's controversial nuclear programme.