15629
Gov’t to Remove 6m From Cash Subsidy List
Economy, Domestic Economy

Gov’t to Remove 6m From Cash Subsidy List

The government is planning to stop payment of cash subsidies to 6 million high-income Iranians by the end of the current Iranian year (March 19, 2016), deputy minister of cooperatives, labor and social welfare, Abul-Hassan Firouzabadi said on Monday, Tasnim news agency reported.
Earlier on Sunday, Minister of cooperatives, labor and social welfare, Ali Rabiei announced the government's plan to eventually eliminate well-off Iranian households from the list of cash subsidies to compensate for 60 trillion rials ($2.14 billion in official exchange rate) in budget deficit for the current year, adding that 200,000 people have already been eliminated from the list.
As part of the so-called Subsidy Reform Plan, passed by the parliament on January 5, 2010, a sum of 455,000 rials ($13 at official exchange rate) has been paid to almost all Iranians on a monthly basis. The parliament recently lowered the cap for the total amount of cash subsidies in the new Iranian year’s budget bill, compelling the government to exclude high earners from the subsidy list.

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

You can also read ...

CBI, Capital Market Agree to Control  Gold Coin Bull Run
As gold coin prices are skyrocketing, the Central Bank of Iran...
Experts believe the import ban would lead to a further rise in smuggling and market disruption.
The government has banned the import of 1,339 commodities...
$1.5b in Tax Evasion Identified From Bank Accounts
About 63 trillion rials ($1.49 billion) worth of unpaid tax...
Top US Court Restricts Police on Cellphone Location Data
The US Supreme Court on Friday imposed limits on the ability...
Mohammad Javad Zarif (4th L) addressed representatives of Iran Chamber of Commerce, Industries, Mines and Agriculture on June 24. (Photo: Bahareh Taghiabadi )
Foreign Minister Mohammad Javad Zarif assured the business...
Iran Explores Int’l Space Collaborations at UN Meeting
Officials with Iran Space Agency participated in the two-day...
Xiaomi’s Hong Kong IPO
Xiaomi, one of the world’s leading smartphone makers, is...
Steel Exports Rise Over 28%
Iranian steelmakers exported 1.62 million tons of their...

Trending

Googleplus