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Iran's Parliament approves bill on allocating parts of oil, gas revenues to deprived regions

TEHRAN, Oct. 3 (Mehr News Agency) - Majlis (Iran's parliament) on Tuesday, approved the general outlines of a bill based on which government will be allowed to allocate two percent of Iran's oil and natural gas revenues to the development of the oil- and gas-rich provinces and other economically underprivileged regions of the nation as well.

The same bill also provides for the allocation of up to a ceiling of Rls.6,000,000,000,000 (roughly around 652,000,000) of the same revenues to the same regions of the country during the remaining years of Iran's Fourth Five-Year Socioeconomic Development Plan (2004-2009).

The Management and Planning Organization (MPO) in cooperation with the ministries of oil and interior will prepare the guidelines for implementation of the act.

The bill had been previously rejected in the state legislature on the grounds that it was in conflict with the fundamentals of budget setting.

... Payvand News - 10/3/06 ... --

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