NEWS
ECONOMY   Banks  

Over $342b to go to state-run companies in next year’s budget bill

Head of Iran’s Planning and Budget Organization (PBO) said 14.4 quadrillion rials (over $342.85 billion) is going to be allocated for state-run companies in the next year’s budget plan, ILNA reported.

For 382 government-owned corporations 14.4 quadrillion rials has been envisioned. The figure is based on the companies’ performance and the expenses of such public enterprises,” Mohammad Baqer Nobakht said on the sidelines of the 15th meeting of the budget headquarters on Monday.

According to the official, since PBO is going to submit the budget plan for the government-owned companies in the next Iranian calendar year (March 2020-21) to the parliament on November 6, so the final revisions and assessments were the main focus of discussion during the 15th meeting.

According to the next year’s budget plan, state-owned companies are expected to invest more than 2 quadrillion rials (over $47.6 billion) in development projects, Nobakht said.

“About 400 trillion rials (about $9.5 billion) has also been allocated for job creation, so we can say that in the next year’s budget bill more than 3 quadrillion rials (about $71.42 billion) will be allocated for development projects and creating jobs,” he added.

Back in October, Nobakht announced that the government is going to allocate all revenues from oil sales to the development projects following structural reforms in the next Iranian calendar year’s budget bill.

According to the official, the revenues gained from elimination of hidden energy subsidies as well as increased tax incomes will replace oil revenues. 
Back in September, Nobakht had announced that the government was going to submit the budget bill for the next Iranian calendar year to the parliament on December 6 as scheduled.

News No: 7282
Date: 2019/11/04 - 21:44
News Source: Tehran Times

budget bill  Mohammad Baqer Nobakht  state-run companies  PBO 

Comments:

Leave a Comment:

   
   
   
 

Zahedan-Chabahar railway’s 2 sections to be completed by next 10 months

Head of Iran’s Budget and Planning Organization (BPO) announced that two sections of Zahedan-Chabahar railway are going to be completed by the end of the current Iranian calendar year (March 20, 2021).
 

Majlis releases draft of revised budget bill for next year

Iranian parliament’s ad hoc budget review committee has released the revised version of the administration’s budget bill for the next Iranian calendar year (starting March 20), after the Leader of Islamic Revolution Ayatollah Ali Khamenei approved the parliament’s request for taking necessary actions on the matter.
 

VP: Iran's Next Year Budget Bill Planned on 1mln bpd of Crude Export

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.
 

Oil income to account for 7% of Iran’s revenue next year

Iran’s oil sale will account for just seven percent of the country’s income in the next Iranian calendar year (begins on March 20, 2020), according to Head of Iran's Plan and Budget Organization (PBO) Mohammad Bagher Nobakht.
 

85% of Tax Revenues Collected From 3 Percent of Taxpayers

Eighty-five percent of Iran's tax revenues come from only 3% of taxpayers, according to the head of Majlis Economic Commission, Eliyas Hazrati.
 

VP: Less Privileged Classes to Pocket Revenues from Gas Price Rise

Iranian Vice-President and Head of the Management and Planning Organization (MPO) Mohammad Baqer Nobakht said that a total sum of $2.5 to $2.4 billion is estimated to be earned from the gas price hike in the country, adding that the whole amount is planned to be distributed among 18 million families of lower economic status.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners