Iran’s government debt to gas company surpasses $300 million
Azerbaijan, Baku, Oct. 17/ Trend A. Gurbanova/
Government's debt to the National Iranian Gas Company has reached $300 million, posing problems for domestic banks, Pananews reported.
The Iranian government has failed to pay $300 million from gas revenues and after ten months of removing subsides the National Iranian Gas Company has yet to receive its share of gas sale to consumers from the government's treasury.
Meantime the National Iranian Gas Company is facing problem in financing new projects and lack of government's payment to domestic banks has slowed down the new gas projects.
The Iranian government is expected to save $54 billion by removing subsides this solar year. Eighty percent of this figure will be transferred to citizens' bank accounts to compensate for subsidy removals, and twenty percent should be assigned to industry and construction sectors.
Meanwhile, the government said it transferred $21 billion only during the first half of year to citizens' bank account.