Iranians receive $69-$81 as New Year gift
Azerbaijan, Baku, Feb.24 / Trend F.Mehdi/
The Iranian administration has deposited 850,000 rials per person to banking accounts of breadwinners of families as the New Year gift, IRNA reported.
The sums have been paid in order to help families overcome financial problems during the final days of the current Iranian calendar year.
Low-income families, which are under coverage of welfare organization, have received 1,000,000 rials (about $81) per person.
On January 14, MP Abdolkarim Hashemi told the Fars News Agency that the Iranian administration is facing problem in providing money for paying cash subsidies to the public.
In such a situation, the second phase of the subsidy reform plan could not be implemented, he added.
"For the time being, the government is providing necessary money out of sources other than freeing up prices based on the subsidy reform plan," he noted.
The subsidy reform plan pays out $37 to Iranians while eliminating subsidies for fuels and some commodities.
Nearly 74.5 million Iranians receive cash subsidies. The government implemented the first-stage of its targeted subsidies plan towards the end of 2010 in an attempt to wean the country off food and fuel subsidies. At the time, Ahmadinejad called it the "biggest economic plan of the past 50 years".
It allows the government to gradually slash subsidies on fuel, electricity, and certain goods over the course of five years, with low-income families being compensated with direct cash handouts.