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Iran drops plans for cash subsidies

TEHRAN, Dec. 26 (Mehr News Agency) - Majlis Speaker Ali Larijani confirmed on Friday that the plan to provide direct payments of subsides has been cancelled due to the sharp fall in oil prices.

However, he said, "This is not the definitive decision until it has become a law."

The Majlis is awaiting the administration's economic reform plan.

The administration had announced that it planned to pay subsidies in cash to citizens.

On Wednesday, Majlis Economic Committee Chairman Gholamreza Mesbahi-Moqaddam announced the cancellation of cash subsidies because of the sharp decrease in oil prices.

Larijani acknowledged that the decrease in the oil revenues will leave a negative effect on the implementation of the reform plan.

"The price of oil was 120 dollars in the past and now it is 30 dollars. Thus, the economic reform plan should be different from what the administration had in mind."

... Payvand News - 12/27/08 ... --

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