Petroleum ministry can no longer afford subsidies

TEHRAN Jan 17 (Shana)–A deputy petroleum minister has said that the ministry can no longer afford paying huge subsidies every month.
“The petroleum industry is paying IRR 37.5 trillion (nearly $1.2 billion) to Subsidy Regulation Organization every month,” Mansour Mozzami said.
He said Ministry of Petroleum is overwhelmed, calling on “senior officials to think of a remedy for the subsidies.”   
He said that National Iranian Oil Refining and Distribution Company (NIORDC) is contributing IRR 30 trillion and National Iranian Gas Company (NIGC) is paying IRR 7.5 trillion for subsidies.
“NIGC is grappling with problems for laying out pipelines while it has to provide a huge volume of finance to Subsidy Regulation Organization every month,” said Moazzami.

By SHANA

 

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