Iran Parliament Disapproves Proposed Budget Bill
Iran Parliament Disapproves Proposed Budget Bill

Iran Parliament Disapproves Proposed Budget Bill

Iran Parliament Disapproves Proposed Budget Bill

The Majlis on Sunday disapproved the outlines of the proposed budget for the upcoming fiscal year (March 2018-19). 
A total of 120 lawmakers voted against while 83 were in favor of the figures proposed by the Majlis Joint Commission, while nine MPs abstained, IRNA reported.
Majlis Speaker Ali Larijani said the joint commission has 72 hours to revise the bill and present it to the chamber, the Islamic Consultative Assembly News Agency (ICANA) reported.
The joint commission is a parliamentary body responsible for reviewing the budget bill as well as the five-year economic development plans proposed by the government before its final ratification. President Hassan Rouhani presented the  budget bill to parliament on Dec. 10.
Among key amendments proposed by the commission to the budget bill were keeping gasoline price unchanged, setting average oil prices at $55 a barrel and fixing the official rate of the US dollar at 35,000 rials, freezing salaries of authorities, setting the ceiling for pay increases at 18%, banning any increase in tariffs, duties and costs of services provided by organizations of the executive branch and tax exemption for monthly wages below  23 million rials ($522) for civil servants and 18 million rials ($409) for guilds. 
According to Larijani, the commission has only one opportunity to review the budget bill and the revised bill will be discussed on February 3.


Short URL : https://goo.gl/ftpWGZ
  1. https://goo.gl/oGT5WA
  • https://goo.gl/CpxyWY
  • https://goo.gl/DhxVpf
  • https://goo.gl/NfS2T4
  • https://goo.gl/qiYS2M

You can also read ...

Calls for Changing Forex Policy
As Iran is dealing with the ramifications of the government's...
French Business Chief in Iran Sees Bleak European Prospects
The head of France’s business lobby in Iran said on Friday EU...
Maersk Tankers Ends Iran Shipping
Danish shipping group Maersk Tankers on Thursday said it would...
S. Korea Discusses Contingency Plans on Iran Sanctions
The South Korean government held an inter-agency meeting on...
BMI: US Deal Pullout to Have Limited Impact on Mining Industry
The reimposition of US sanctions on Iran will only have a...
The reduction of the available volumes of semi-finished steel from Iran is expected to influence billet and slab prices  in the global market, pushing them upward.
Iranian steelmakers and customers in major outlet regions such...
Global insurers are reviewing the effects of US pullout from the Iran deal.
Global insurers are taking stock of how the US withdrawal from...
Citroen Presells 2,000 C3s in Iran Debut
Through a joint venture with Iranian carmaker SAIPA, French...

Add new comment

Read our comment policy before posting your viewpoints