Iran reveals COVID-19 related damages for local industries

Business Materials 29 July 2020 09:17 (UTC +04:00)
Iran reveals COVID-19 related damages for local industries

TEHRAN, Iran, July 29


The representative of the Ministry of Industry, Mine and Trade at Iran's Chamber of Guilds Ebrahim Dorosti has announced a plan to have Guilds get some sort of benefits considering the coronavirus outbrea, Trend reports via ILNA.

“The Iranian National Tax Administration (INTA) is going to provide facilities for guilds affected by the spread of the coronavirus,” Dorosti said.

He added that the issue with the facilities is being discussed with INTA, and the plan is to be finalized in the next few days.

"We firmly believe that many businesses did not have income due to the spread of the coronavirus and some of them even went bankrupt," he said.

“The final months of each Iranian year (begins in March) for many businesses has an income equivalent to six months or the whole year, which unfortunately was not the case this year, because of the coronavirus,” he said.

Referring to the provision of facilities in the form of loans to various guilds, Dorosti said that so far, about 20 percent of all guilds have registered to receive facilities.

"Of those 20 percent, about 12 percent have received facilities in the form of loans of $2800 to $3000 per worker," he said.

He also said that about 60 percent of all the guilds in the country have been affected by the coronavirus.

The outbreak in the Chinese city of Wuhan - which is an international transport hub - began at a fish market in late December 2019.

The World Health Organization (WHO) on March 11 declared COVID-19 a pandemic. Some sources claim the coronavirus outbreak started as early as November 2019.

The Islamic Republic of Iran only announced its first infections and deaths from the coronavirus on Feb. 19.

The pandemic has hit a wide range of businesses in Iran since its outbreak in mid-February. Conditions worsened after the government ordered mass closure of markets as part of its social distancing scheme enforced on March 27. The limitations will be in effect until April 8.

Meanwhile, the CBI has singled out ten businesses unable to meet their financial commitment as a result of the virus outbreak:

- food distributors, such as restaurants, reception halls, coffee shops, buffets and fast food eateries

- businesses active in tourism and hospitality sector, such as hotels, self-catering apartments, lodges and boarding houses

- transporter, including air, road, rail and shipping companies

- apparel manufacturers and distributors

- leather and footwear

- confectionaries and shops selling dried fruits

- gyms and recreational centers

- education and cultural centers

- craftsmen and handicraft shops.