"The love fund is a realisation of the new government's slogan -- taking oil
money to the tables of the people," state television quoted Vice-President
Farhad Rahbar as saying.
Populist conservative President Mahmoud Ahmadinejad swept to election victory
in June on a pledge to distribute the oil earnings of the world's fourth
biggest crude producer more fairly.
"The government's share in the $1.3 billion for the 'Reza Love Fund' will be
deducted from the oil income of the National Iranian Oil Company," Rahbar said,
without elaborating on how the money would be used to help young couples.
Each province would have a board of trustees to determine how much money needy
couples should get.
Iran's oil earnings above a budgeted level go into the "Oil Stabilisation
Fund", which is only meant to be used in emergencies, should oil prices slump.
Iran's Central Bank, the International Monetary Fund and rating agencies have
all warned against raiding it for other schemes, arguing this could exacerbate
inflation, already running around 15 percent.
The "love fund" bill will be the first piece of legislation submitted to
parliament by Ahmadinejad's government. Parliament is dominated by populist
conservatives who have long advocated raiding the oil fund for social spending.
Reuters
