Baku, Azerbaijan, Jan. 21
By Fatih Karimov - Trend:
Iran will pay 10 trillion rials (about $290 million) in subsidies to the production sector by the end of the current Iranian calendar year (March 20).
Iran's economy minister Ali Tayebnia said that President Hassan Rouhani has issued a directive for paying 10 trillion rials (about $290 million) in subsidies to the production sector by the end of the current year, Iran's Fars news agency reported on Jan. 21.
The Subsidy Reform Plan had envisaged 100 trillion rials (about $3 billion) to be earmarked for boosting domestic production, improving the public transportation, and implementing energy saving projects.
This is while Iran's Subsidies Organization said in October that the Iranian administration has paid no subsidy to the production sector (industry, mining and agriculture) in the current Iranian calendar year, which began on March 21, 2014.
Ahmad Davoodi, the presidential office's director for infrastructure affairs, said in September 2014 that $1.5 billion has been allocated for the health and medical treatment sector, and $3.2 billion has been allocated for the production sector.
The subsidy reform plan, which was called "the biggest surgery to the economy", was put into operation in September 2010.
According to the plan, the subsidy on food and energy is removed gradually, and the government allocates a portion of the amount saved to people and industry.
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