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Government must be prevented from taking over the National Development Fund

Thursday, 31 May 2012

In keeping with the policy established in Fifth Five-Year Plan for National Development, it was decided to establish a National Development Fund to save a share of the income earned by the state and the public. It is not supposed to be the government’s petty cash fund, but the government’s massive presence on its board and its status in the decision-making process cannot be balanced by the other members and representatives from the judiciary and legislature. The goal of the fund is to save approximately 20% of the state’s income from the sale of oil, gas and LPG, removing this amount from the cycle of government expenditure. If that is its goal, then it would be preferable for the status of representatives of the Supreme Leader to have a higher and more permanent status, to prevent a government takeover of this fund. In the last week, five vice presidents were replaced simultaneously and the fund’s CEO dismissed, without his knowledge. The Secretary General for the Subsidy Reform Headquarters was appointed to replace him, without being required to leave his previous position. Media analyses this week reinforced speculation that the government is planning to use some resources from the National Development Fund for subsidy reform.

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  • Published: 502 days ago on Thursday, 31 May 2012
  • By: Iran Daily Brief
  • Last Modified: May 31, 2012 @ 2:22 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://www.farsnews.com/newstext.php?nn=13910310000255

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