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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