Iran allocates over $9B to production units
Baku, Azerbaijan, Jan. 17
By Elnur Baghishov - Trend:
Loans worth 400 trillion rials (about $9.52 billion) have been allocated to production units in Iran to provide liquidity and working capital, Iranian Industry, Mine and Trade Minister Reza Rahmani said, Trend reports via Shata news agency.
He said that the priority of Iran's government is to maintain the present level of production and employment. Manufacturers face the lack of liquidity and working capital to maintain this level, he noted.
In accordance with the instruction of the Iranian president, the Ministry of Industry, Mine and Trade and the Central Bank of Iran organized a committee, he said. According to the preliminary calculations of this committee, 400 trillion rials will be provided by the bank and allocated to the production units, he added.
“Over the past few months, manufacturers of spare parts of cars have faced problems,” he said. “As a result, car production has decreased. But as a result of the government support and efforts by manufacturers of spare parts of cars, the process has started to progress in this area.”
Due to the sanctions, a decision was made on the import substitution of spare parts of the cars that cannot be imported, he added.