Cabinet Reviews Situation in Earthquake-stricken areas

31 May 2004 | 06:30 Code : 3755 Geoscience events
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The president press affairs office reported that initially an envoy who had been dispatched to the quake-hit areas in Mazandaran and
Tehran, May 30, IRNA -- President Mohammad Khatami chaired a cabinet session here Sunday which focused on the situation in the earthquake hit areas. The president press affairs office reported that initially an envoy who had been dispatched to the quake-hit areas in Mazandaran and Qazvin provinces briefed the cabinet on the relief efforts by the various state organs and Iran Red Crescent Society (IRCS). The report highlighted the "considerable financial damages" to the areas and directed the organs to compensate for costs inflicted on the families. The cabinet also expressed condolence on tragic death of Qazvin province governor general and several of his colleagues on the horrific helicopter crash on Saturday. On another issue, the cabinet also directed the central bank to authorize the allocation of the balance of the Foreign Exchange Reserve Fund equally between the state and private sectors. The directive is in effect the continuation of the official policy of previous years. Over dlrs 22 billion have been deposited since the inception of the Foreign Exchange Reserve Fund in 2000 until the the end of last Iranian year (March 19, 2004). A report by the weekly bulletin of the Management and Planning Organization (MPO) said here in April that the government has been authorized by the Majlis to withdraw dlrs 10.7 billion from the account. Dlrs 6.6 billion has been allocated to implementation of the unified exchange rate program and dlrs 4.1 billion was earmarked for development projects, the report said. The Third Five-Year Development Plan (March 2000-March 2005) calls for 50 percent of the credit facilities to be set aside for the private sector, "hence the amount of private sector stood at dlrs 1.49 billion in the same period." Line of Credit (LC) opened by the private sector from the Foreign Exchange Reserve Fund was dlrs 3.1 billion and the value of the projects ratified was 3.1 billion.

tags: QAZVIN


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