Azerbaijan, Baku, Nov.9 /Trend G.Mehdi/
Secretary of Iran's Expediency Council, Mohsen Rezaii, has said that cash subsidies should be raised to 1.1 million rials (about $90) for each individual from 450,000 rials (about $37) which is currently being paid, the Fars News Agency reported.
Subsidies should not only not be removed, but also raised considering the decline in people's purchasing abilities, he said.
This is a well-founded plan which is economically feasible, he emphasised.
On October 7, the Iranian parliament (Majlis) approved a single urgency bill to cancel the implementation of the second phase of the subsidy reform plan.
The subsidy reform plan pays out $37 to Iranians while eliminating subsidies for fuels and some commodities.
When the plan started in December 2010, it was expected to cause about $32 billion in liquidity.
However greater demand for the cash subsidies and the government's money borrowed from the central bank to pay for the subsidies led to a $45 billion liquidity.
