Gov’t Retracts Decision to Raise Feedstock Prices

The government officially adjusted downward the initial revenue projection from feedstock prices sold to industries in the 2022-23 fiscal budget.
In a letter to the Majlis, published by the semi-official Tasnim News Agency, the government said its revenue would fall short 170 trillion rials ($618m) by cutting natural gas feedstock prices sold to petrochemical, refinery, metal and cement companies.
In the initial projections, the Raisi administration had expected to generate 944 trillion rials ($3.5 billion) from feedstock sales to the key industries.