TEHRAN, Iran, March 17
Trend:
Iran's Ministry of Industry, Mine and Trade plans to review economic effect of coronavirus on various production and trade sectors in the country and provide supportive packages, said deputy minister.
"The challenges and problems in industry, mine and trade have been reviewed to take necessary measures ad reduce negative effect of coronavirus," said Saeed Zarandi, Trend reports citing IRNA.
"Coronavirus has caused decline in production demand in the industry sectors that led to closure of various guilds, while other businesses have experienced drop of demands from 50 percent to 70 percent," the deputy minister added.
"The supportive package is being drafted by Iran's Ministry of Industry, Mine and Trade, and it shall be provided in three stages for supply, demand and small-sized businesses," Zarandi said.
"Part of these solutions covers to macroeconomic sectors, while others solutions are related to the Ministry of Industry, Mine and Trade," the official said.
"Deadlines for tax and other payments alongside insurance of employers and workers will be delayed until the situation is back to normal. Meanwhile, we also suggest extension of bank loans to reduce losses," he added.