Zangeneh Lauds Parliament for shelving Article 53

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TEHRAN, (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh wrote Parliament Speaker Ali Larijani a letter on Saturday expressing satisfaction at the parliament's decision to cancel Article 53 of the budget bill that would allow supply of feedstock to petrochemical plants at a lower price that what the petroleum ministry had proposed.


Zangeneh, through the letter, said cancellation of the article will set the grounds for bolstering and developing the petrochemical industry of the country.
"This move will bolster and create a bright and stable outlook for investments and development of the petrochemical industry," the official wrote.

Article 53 of the national budget bill concerns pricing of feedstocks to petrochemical plants that puts the prices lower than what the Iranian Ministry of Petroleum has envisioned for petrochemical companies.

Last modified on Saturday, 07 January 2017 14:30
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Iranian fuel conservation company (IFCO) a subsidiary of National Iranian Oil Company(NIOC) established in 2000 with the mission to regiment the fuel consumption in different sectors through review and survey of the current trend of consumption and executing conservation measures nationwide.

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