TEHRAN, Iran, October 25. The Capital Market Stabilization Fund to receive 11 trillion rials (about $26 million) from the National Development Fund and the revenues from the securities transaction tax, Trend reports citing IRNA.
Securities and Exchange Organization has announced the National Development Fund will deposit 6 trillion rials (about $14 million) in remaining installments to the Capital Market Stabilization Fund.
Iranian President Ebrahim Raisi stressed the payment of the final installment from the National Development Fund to the Capital Market Stabilization Fund in a meeting.
Based on an agreement the National Development Fund plans to inject about $510 million into the fund to support the stock market.
The President has also instructed the Budget and Plan Organization to pay 5 trillion rials (about $11 million) from the securities transaction tax to the Capital Market Stabilization Fund.
Additionally, the government’s economic headquarters suggested reducing the stock sales tax by 80 percent which was approved by the Iranian President.