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Iranian President: Iran successfully implements subsidy reforms

Business Materials 28 February 2011 12:38 (UTC +04:00)
Iran is about to make great strides following the implementation of the law on subsidy reforms, President Mahmoud Ahmadinejad said while inaugurating a grain depot.
Iranian President: Iran successfully implements subsidy reforms

Iran is about to make great strides following the implementation of the law on subsidy reforms, President Mahmoud Ahmadinejad said while inaugurating a grain depot, Iran Daily reported with reference to IRIB News.

"Our country is close to taking huge leaps...We need to effectively manage consumption," he said.

Over the months the president has regularly called on the people to revise food and energy consumption patterns and avoid waste.

Thirty-seven such depots were inaugurated across the country at the weekend.

"This (strong move forward) demands self-confidence, firm action and unity...all of which exist in our country," Ahmadinejad said.

Iran has the capacity to triple its agricultural production, he noted.

Iran 's annual agricultural production is 100 million tons, the president said. "We can increase this volume to 300 million tons."

"This indicates immense economic and political clout, which can strongly affect international markets," he was quoted as saying.

The targeted subsidy plan launched in December 2010 aims to gradually remove all subsidies over a five-year period and instead give families cash handouts as compensation.

It eliminates subsidies on gasoline, natural gas, electricity and food and is considered to be one of the most important economic undertakings in Iran's modern history.

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