...

Iran's support package to cover majority of population

Business Materials 16 November 2020 09:10 (UTC +04:00)
Iran's support package to cover majority of population

TEHRAN, Iran, Nov.15

Trend:

The Iranian government has paid $7.7 billion as its support package to families since the last Iranian year (started March 21, 2019) as its agenda to cover the costs of increased gasoline price and the damages of Coronavirus spread.

The Plan and Budget Organization announced back in November 2019 that the expected $7.1 billion revenue from increased gasoline price would be divided among 18 million households(equal to 60 million people) as the government's agenda to support low-income families, Trend reports citing IRNA.

The first phase of this plan was completed on November 18 that was separated from the regular monthly subsides, although it was decided that the regular subsidies should also increase based on the number of family members.

Around 70 percent of the country's population has received the government's support package, while families that owned houses, jobs, and vehicles were not qualified as part of the plan.

The spokesman of the Plan and Budget Organization has announced that the government has paid $640 million as a support package during the last four months of the last Iranian year (started March 21, 2019).

The government gasoline rationing policy that was started as a solution to curb gasoline smuggling has increased the rate of subsides gasoline to 15,000 rials (about 35 cents) while the free market rate reached 30,000 rials (about 70 cents) per liters.

Tags:
Latest

Latest