Iranian President Hassan Rouhani listens during a joint press conference with South Korean President Park Geun-hye after their meeting at the Saadabad Palace in Tehran, Iran, Monday, May 2, 2016. (AP Photo/Ebrahim Noroozi)
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Executive pay, a source of controversy at shareholder meetings in the West, has become a political issue in Iran where revelations of high compensation packages at state-owned firms are being used to attack moderate President Hassan Rouhani.In the worst case, the uproar over executive pay could make it harder for Rouhani to open the economy further to foreign investment and push reforms to foster the private sector, both declared goals of his administration.Hosseini said he had voluntarily reformed the NDF's salary system several months previously and paid back to the government a portion of his salary which he had considered excessive.Iranian law states that the top salary in the government should not be more than seven times that of the lowest-paid government employee. Rouhani blamed his predecessor Mahmoud Ahmadinejad for giving the green light to high executive salaries, and criticized the judiciary for turning a blind eye to them.Rouhani and Khamenei, who are believed to lead austere lifestyles and do not have high salaries, have not declared whether they will participate.
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