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.
As reported by IRIB, the new draft which is amounted at 20.176 quadrillion rials (about $480.3 billion at the official rate of 42,000 rials), has been referred to the Guardian Council for final approval.
The new bill is nearly 216 trillion rials ($5.14 billion) more than the administration’s bill.
A member of the parliament's presiding board announced on Tuesday that Majlis had received two “state decrees” by Leader of the Islamic Revolution Ayatollah Ali Khamenei concerning the next year's budget and the Agriculture Ministry which is now run by a caretaker minister.
President Hassan Rouhani presented the administration’s draft of the 19.88 quadrillion rials (about $473.3 billion at the official rate of 42,000 rials) budget bill in early December 2019, however, in late February, Majlis rejected general outlines of the national budget bill stating that the bill is not compatible with the country’s current economic conditions.
A parliament ad hoc budget review committee (known as Talfiq committee) was then tasked with reviewing the administration’s bill.
Talfiaq Committee is a body consisting of MPs from different committees which is established each year to study the national budget bill.
The committee’s report which was submitted to the parliament on March 2, was then referred to the regulations deputy for further considerations and assessment.
The parliament has now directly referred the revised budget bill to the Guardian Council for the final assessments and approval.
source: Tehran Times
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
