Gov’t
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Tea Harvest Season Ends, Gov’t Processed Output Rises 11%
EghtesadOnline: This year’s tea harvest season has come to an end and the government purchased a total of 126,753 tons of green tea leaves from local farmers at 3.43 trillion rials ($30.66 million),…
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Gov’t Tweaking Divestiture Rules
EghtesadOnline: The government plans to resume offering its remaining shares in state-owned companies after making some changes governing divestiture of state properties to private firms, the…
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Iran Gov’t to Submit Iran's Next Budget on November 6
EghtesadOnline: The Plan and Budget Organization of Iran will submit the budget plan of state-run companies in the next fiscal year (March 2020-21) to the parliament on Nov. 6 and that of government…
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Gov’t to Sell $3.3b in Bonds to Plug Budget Deficit
EghtesadOnline: The Ministry of Economy will issue Islamic financial securities worth 380 trillion rials ($3.3 billion) to partly compensate the budget deficit for the current fiscal year (March…
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Iran Gov’t Invests $225m in Innovation Fund
EghtesadOnline: The Iranian government has agreed to invest 26 trillion rials ($225 million) in Iran National Innovation Fund to support knowledge-based companies and startups.
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Iran Gov’t Says More Cuts Likely in Cash Subsidy List
EghtesadOnline: The Ministry of Cooperatives, Labor and Social Welfare will initiate the identification of households belonging to the top three high-income deciles as of Sept. 23 to eliminate…
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Iran Gov’t May Use ETFs in Divestment
EghtesadOnline: After several failed attempts to divest its remaining stake in state-affiliated companies to the private sector, the government is rewriting the rules and devising new methods…
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Iran Gov’t Reinforces Supervision Over Distribution of Subsidized Goods
EghtesadOnline: The Central Bank of Iran has obliged importers who use subsidized currency to sell their goods via a transparent distribution network, according to a CBI official.
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Gov’t Plans Not Tied to Nuclear Talks Success
EghtesadOnline: Iran will continue its negotiations with the remaining parties to the 2015 nuclear deal, but is pursuing plans based on the presumption that the talks will not produce the desired…
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Iranian MPs Oppose Gov’t Trading Corporation’s Transfer to Industries Ministry
EghtesadOnline: All market regulatory functions have been restored to the Ministry of Industries, Mining and Trade as per the decision taken by the Supreme Council of Economic Coordination last…
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Iran Gov’t Finalizing Power Tariffs for Crypto Mining
EghtesadOnline: The Economic Commission of the government has agreed to set electricity prices for mining cryptocurrencies based on similar tariffs used for electricity exports.
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Hefty Gov’t Automotive Loan Embroiled in Technicalities
EghtesadOnline: The €844 million loan earmarked for local auto parts makers is yet to materialize, due to disagreements between automakers and state players, a deputy industries minister says.
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Gov’t Will Divest Stake in 3 Companies
EghtesadOnline: The remaining government shares in three companies will be offered on the stock market during the current Persian month to July 22, according to an official with the Iran Privatization…
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Gov’t Reiterates Plan to Privatize IKCO, SAIPA
EghtesadOnline: The Iranian government plans to sell off its share in the two major automotive companies: Iran Khodro (IKCO) and SAIPA.
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Shadow Banks Inflicted $2.8 Billion Loss on Gov’t
EghtesadOnline: The government paid 360 trillion rials ($2.8 billion) to compensate losses incurred by the misconduct of shadow banks and unruly lenders in recent years, said Mohammad Baqer Nobakht,…
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UK Gov’t Settles $1.6 Billion Dispute With Bank Mellat
EghtesadOnline: The British government has settled a 1.25 billion pound ($1.6 billion) damages claim brought by Iran’s largest private bank in an 11th-hour, out-of-court deal following a dispute…
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Iran Parliament Allows Gov’t to Borrow $30b Overseas
EghtesadOnline: While debating the March 2019-20 budget bill on Monday, lawmakers allowed the government to borrow $30 billion in foreign finance in the next fiscal (March 2019-20).