Iran postpones second round of subsidy cuts

Nov 13, 2012, 1:24 PM

TEHRAN, Iran (AP) – An Iranian lawmaker says the country’s parliament has postponed the implementation of a second round of subsidy cuts until 2013 over fears of stoking already rampant inflation.

The head of the parliamentary budgetary and planning committee Gholam Reza Mesbahi Moghaddam told the semiofficial Mehr news agency the second phase of the three-part plan would likely cause a 15-percent jump in the inflation rate, which is officially running at almost 25 percent.

Iran began cutting subsidies on energy and food in 2010. The second phase, which targeted gasoline subsidies, was to take effect in March 2012.

Parliament’s decision Tuesday officially pushed back the second round of cuts to March 2013.

Iran has been under increasing economic sanctions by the West that suspects Iran is pursuing nuclear weapon, a charge Iran denies.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Uncategorized

...
No Author

Broomhead’s Action Alliance

Sign up to make a difference! Join Broomhead's Action Alliance to learn about upcoming volunteer opportunities where you'll work side by side with Mike Broomhead in service to others.
5 days ago
FILE - A sign bearing the company logo is displayed outside a Tesla store in Cherry Creek Mall in D...
Associated Press

US has over 750 complaints of Teslas braking for no reason

DETROIT (AP) — More than 750 Tesla owners have complained to U.S. safety regulators that cars operating on the automaker’s partially automated driving systems have suddenly stopped on roadways for no apparent reason. The National Highway Traffic Safety Administration revealed the number in a detailed information request letter to Tesla that was posted Friday on […]
2 months ago
A destroyed window of a house is seen during a military sweep to search for possible remnants of Ru...
Associated Press

Zelenskyy: Retreating Russians leave many mines behind

KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy warned his people early Saturday that retreating Russian forces were creating “a complete disaster” outside the capital as they leave mines across “the whole territory,” even around homes and corpses. He issued the warning as the humanitarian crisis in the encircled city of Mariupol deepened, with Russian […]
4 months ago
...
Arizona Department of Gaming

While March brings upsets and buzzer-beaters, it also needs to bring caution

In March, basketball fans around the country glue themselves in front of a television for almost 11 hours for four consecutive days.
5 months ago
Follow @KTAR923...
KTAR.com

Some of the greatest Big Game comebacks in NFL history

The Big Game has brought some of the best and worst comebacks for not only the casual fan, but gambling fans.
6 months ago
KTAR.com

Couple residing in Chandler arrested for AHCCCS, pandemic loan fraud

A couple residing in Chandler was arrested on Wednesday for allegedly fraudulently billing the Arizona healthcare system and for fraud in their applications for COVID-19 pandemic-related loans, authorities said.
12 months ago

Sponsored Articles

...
Sanderson Ford

Don’t let rising fuel prices stop you from traveling Arizona this summer

There's no better time to get out on the open road and see what the beautiful state of Arizona has to offer. But if the cost of gas is putting a cloud over your summer vacation plans, let Sanderson Ford help with their wide-range selection of electric vehicles.
(Courtesy Condor)...
Condor Airlines

Condor Airlines shows passion for destinations from Sky Harbor with new-look aircraft

Condor Airlines brings passion to each flight and connects people to their dream destinations throughout the world.
...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
Iran postpones second round of subsidy cuts