Projects with high physical progress prioritized for receiving facilities

Industry, Mining and Trade Minister Reza Rahmani said that for allocation of facilities his ministry attaches priority to the projects that have high physical progress, IRNA reported.

Speaking in a meeting with the board members of the committees of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) on Tuesday, the minister said that providing liquidity for industrial units is the main demand of these units from this ministry and it is also a top agenda for the ministry.

“In this due, the projects with high physical progress and also the active units which have proper status regarding sales market are attached priority for receiving bank loans”, Rahmani stressed.

As previously announced by Deputy Industry Minister Mohsen Salehinia, during the current Iranian calendar year (ends on March 19, 2020) the government plans to provide facilities under the framework of subsidies for projects with more than 60 percent of physical development, to supply working capital of firms, to renovate production units and etc.

He said that 360 trillion rials (about $857.1 million) of facilities will be granted to the industrial units in this year in the framework of production flourishing plan.

The current Iranian calendar year of 1398 is named as the year of "Pickup in Production" by Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei.

The realization of this motto toward Iran’s self-reliance is in fact the only way to tackle the U.S. cruel sanctions on Iran’s economy.

To this end, Iranian government has put supporting domestic producers a top agenda in the current year.

Providing the required working capital for the production units and offering them facilities is one of the major measures being pursued by the government to support these units.

source: Tehran Times