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| Subsidy cuts save Iran $8.4 billion in water, power consumption |
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Iran has saved some 100 trillion rials (around $8.1 billion) in water consumption and some 5 trillion rials (around $400 million) in power consumption since implementing the Subsidy Reform Plan in December 2010, Energy Minister Majid Namjou said.
The administration is planning to reduce the per capita consumption of water to 30 liters from 150 liters, the minister added, Mehr news agency reported.
Iran’s subsidy reforms have saved the government $15 billion since December 2010, state TV reported, citing Deputy Economy Minister Mohammad-Reza Farzin.
The most significant savings were in the energy industry, Farzin told state television on December 28, 2011. Iran began phasing out three-decade-old subsidies system last year under a five-year plan and replacing it with cash payments. About 74 million Iranians receive monthly cash payments, he said.
“The Iranian government plans to eliminate cash payments for the wealthiest 10 percent of the nation,” Farzin said.
President Mahmoud Ahmadinejad said in December 2011 his government will contact “wealthy” Iranians about halting the monthly cash payments, according to Fars news agency.
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