Getting your player ready...
TEHRAN, Iran — Iran’s president on Saturday announced the start of a plan to slash energy and food subsidies, part of government efforts to boost the country’s ailing economy.
In an interview with state television, Mahmoud Ahmadinejad said the deep cuts to the subsidies will start beginning today, and he vowed to fully cut all subsidies by the end of his term in 2013.
After the president announced the cuts, long lines of cars were seen at several gas stations in Tehran as Iranians rushed to fill their tanks at subsidized prices before the new ones took effect at midnight.
