Head of Iran’s Planning and Budget Organization (PBO) said the government will submit the budget bill for the next Iranian calendar year (starts on March 20, 2020) to the parliament on December 6 as it is scheduled, IRIB reported on Tuesday.
According to Mohammad-Baqer Nobakht, this year, PBO has decided to send the information about the state-owned companies’ budget to the Majlis (Iranian parliament) a month earlier so that the parliament would have enough time to review it.
The members of the budget preparation committee at PBO are seriously working on the bill and while the views may differ in some areas, the consensus among all members will be the base for the final decision making, Nobakht said.
The Majlis Joint Commission has decided that government employees who earn less than 360 million rials ($2,769) per year will be exempted from paying income tax as of the next Iranian year (starting March 20, 2020)
Head of Iran’s Planning and Budget Organization (PBO) said the oil revenues in budget bill for the next Iranian calendar year (starts on March 20, 2020) are estimated on the expectations of selling one million barrels per day (bpd) of oil at an average price of $50, ISNA reported.
Iranian Vice-President and Head of the Management and Planning Organization (MPO) Mohammad Baqer Nobakht announced that based on the next year's budget, the country will decrease its oil exports from the current 1.5mln bpd to 1mln bpd.
Iranian President Hassan Rouhani said on Sunday that the country's budget bill for the next fiscal year has been set in a way to offset the negative effects of the US sanctions and, hence, includes a significant cut in oil revenues.
Iran’s Planning and Budget Organization (PBO) inked a memorandum of understanding with Imam Khomeini Relief Foundation and the Organization for Mobilization of the Oppressed for construction of 20,000 photovoltaic power stations (known as PV systems) across the country.
Head of the CNG promotion program at National Iranian Oil Product Distribution Company (NIOPDC) says consumption of compressed natural gas (CNG) in the country has increased by 10 percent since the implementation of the gasoline rationing scheme.