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President Mahmoud Ahmadinejad has said the subsidy reform plan will be implemented in the second half of the Iranian calendar year which started on March 21.

“Subsidy reform plan is the biggest economic plan over the past 50 years and will be carried out in the second half of the year,” Ahmadinejad said during a televised interview in Yasouj on Thursday.

The plan is aimed at saving resources, increasing creativity, and distributing funds fairly, he stated.

The administration is currently compiling information on families’ economic status and opening bank accounts for those eligible to receive cash subsidies.