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Energy prices to be unchanged: Iranian Minister

Oil&Gas Materials 21 July 2011 12:11
Energy prices to be unchanged: Iranian Minister

Azerbaijan, Baku, July 21 /Trend/

Despite the implementation of subsidy cuts, the government does not plan on increasing energy prices in current solar year (started on March 20, 2011), Fars News Agency reported, quoting Iran's Minister of Economic Affairs and Finance Shamsoldin Hosseini as saying.

The Iranian government has removed a part of the commodity subsides and energy product subsidies as of December 2010.

"I say with certainty that today there are no plans to increase future energy prices", he said.

Iranian government expected to economize $62 billion from removing subsides this solar year. Half of this figure will be transferred to citizens' bank accounts to compensate subsidy removal. Thirty percent will be assigned to industry and construction sectors and 20 percent of this figure will be transferred to government bank accounts for common expenses.

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