Cabinet approves 200 bills for development of Khuzestan

Local officials and the province’s representatives in the Majlis also attended the six-hour cabinet session.

Khuzestan was one of the hardest hit provinces during the 1980-1988 Iraqi imposed war against Iran.

Last year, the Majlis approved a bill requiring two percent of oil revenues to go to oil-rich provinces and less developed regions.

In order to encourage private sector investment, the cabinet has exempted Khuzestan Province industrial and production units from taxes for ten years.

On Saturday, President Mahmud Ahmadinejad told reporters, “After Tehran Province, we made the most ratifications for Khuzestan, about 200.”

Ahmadinejad announced that in order to create more job opportunities and promote investment, the cabinet had authorized 23 trillion rials (about 2.47 billion dollars) of low interest loans for the province.

The president had scheduled a visit to the province about a year ago, but the trip was canceled due to bad weather.

“During this time, more detailed studies were conducted on the province’s talents and potential,” Ahmadinejad explained.

The allocations to Khuzestan Province will mostly go to the industrial, agricultural, fishing, telecommunications, and housing sectors.

MS/HG

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MNA