Iranian lawmakers agree to allocate $300m for defense, security infrastructure

A file photo of Iran’s Majlis

A file photo of Iran’s Majlis

TEHRAN (ISNA)- Iranian lawmakers agreed to allocate over $300 million of the next year’s budget for boosting defense and security infrastructure of the country.

This is part of the country’s budget for the next Iranian calendar year (which starts on March 21, 2015).

Based on the approval, Iranian Oil Ministry is obliged to pay part of the country’s revenues from smuggled petrochemicals to General Treasury for defense and security infrastructure.