Roads Ministry’s Debts to Contractors Top $1.9 Billion

EghtesadOnline: The Ministry of Roads and Urban Development’s debts to contractors have amounted to 187 trillion rials ($1.96 billion), a deputy roads minister said.

News ID: ۷۸۳۷۱۷

18 August 2018

“Mechanisms suggested in the budget law for repaying overdue liabilities include issuing treasury bonds [to restructure debts] and swapping their debts to the banking system,” IRNA also quoted Amir Amini as saying.  Noting that the ministry clears between 40 and 60% of its debts to contractors annually, the official said about 40 trillion rials ($421.05 million) have been paid to contractors so far this year, according to Financial Tribune.