9724
Report Says Tehran Municipality Sinking in Red Ink
Economy, Business And Markets

Report Says Tehran Municipality Sinking in Red Ink

The ministry of economic affairs and finance has recently released an official report clarifying that Tehran Municipality is in debt to the banking system by several trillion rials. The report however refuses to drop a clear number for the amount of debt.
Addressing a recent meeting of the city council, Mohammad Bagher Ghalibaf, the mayor of Tehran, claimed that the Ahmadinejad administration did not meet the  municipality’s budgetary needs, and neither did the Rouhani administration.
The report however rejects Ghalibaf’s remarks, saying that the government did pay the municipality nearly 19 trillion rials ($692 million) from the public budget in the first 10 months of the current fiscal year, ending March 20, 2015.
An additional 17 trillion rials ($619 million) have been entrusted with the municipality in form of loans, according to the news website BINA.
Not only is the municipality in debt to the government and the banking system due to the loans it has received, it has also failed to pay nearly 9.2 trillion rials ($335 million) in tax, the report says.
According to data collected from the Municipalities and Rural Managements Organizations of Iran and State Tax Affairs Organization and data in the Budget Law, the average payments of the Rouhani administration to the municipality hover at 20.9 trillion rials ($732 million) in the 22 months ending November 21, 2014.
Additionally, the report indicates that during the previous fiscal year, Tehran Municipality revenues from traffic violation tickets increased twenty times as much compared to the year before that. Also, an aggregate 298 billion rials ($10.8 million) from traffic violation tickets have been collected during the current fiscal year and shall be paid to the municipality after the required legal procedures are completed.

The ministry of economic affairs and finance has recently released an official report clarifying that Tehran Municipality is in debt to the banking system by several trillion rials. The report however refuses to drop a clear number for the amount of debt.
Addressing a recent meeting of the city council, Mohammad Bagher Ghalibaf, the mayor of Tehran, claimed that the Ahmadinejad administration did not meet the  municipality’s budgetary needs, and neither did the Rouhani administration.
The report however rejects Ghalibaf’s remarks, saying that the government did pay the municipality nearly 19 trillion rials ($692 million) from the public budget in the first 10 months of the current fiscal year, ending March 20, 2015.
An additional 17 trillion rials ($619 million) have been entrusted with the municipality in form of loans, according to the news website BINA.
Not only is the municipality in debt to the government and the banking system due to the loans it has received, it has also failed to pay nearly 9.2 trillion rials ($335 million) in tax, the report says.
According to data collected from the Municipalities and Rural Managements Organizations of Iran and State Tax Affairs Organization and data in the Budget Law, the average payments of the Rouhani administration to the municipality hover at 20.9 trillion rials ($732 million) in the 22 months ending November 21, 2014.
Additionally, the report indicates that during the previous fiscal year, Tehran Municipality revenues from traffic violation tickets increased twenty times as much compared to the year before that. Also, an aggregate 298 billion rials ($10.8 million) from traffic violation tickets have been collected during the current fiscal year and shall be paid to the municipality after the required legal procedures are completed.

 

Short URL : http://goo.gl/XeKVmI

You can also read ...

Europe May Tap Cryptocurrencies to Shield Iran Against US Sanctions
The European Union may opt for digital currencies in its...
Iran’s net hot-rolled coil consumption was 5.6 million tons in 2017, of which 0.8 million tons were imported.
Russia and Kazakhstan are temporarily stepping back on sales...
Secondary Forex Market: Corruption Loopholes Abound
Two goals set have been set for the recent establishment of...
EU foreign policy chief, Federica Mogherini, hailed the imposition of the blocking statute on Monday as a “consistent step forward”.
As it races to save the Iran nuclear deal, the European Union...
Colza Production Exceeds Expectations
The government has purchased more than 300,000 tons of colza...
Plastic Production Plant Launched in Chabahar
A factory producing different kinds of plastic products was...
Hashtgerd Subway Station Construction Underway
Iranian authorities are pushing ahead with construction plans...
Illicit Car Imports Under Judiciary’s Scrutiny
Judiciary Chief Ayatollah Sadeq Amoli Larijani says they have...

Trending

Googleplus