Seventy-two percent of bailouts requested by transportation companies (road, air, rail, and sea) hurt by the outbreak of coronavirus have been paid as of early June.
According to Mohsen Sadeqi, an official with the Ministry of Roads and Urban Development, out of 47,500 billion rials ($197.91 million) worth of loans requested by transportation sector, 34,000 billion rials ($141.66 million) i.e.72% of the total requested loans have been paid.
“Loans the government has envisioned for transportation sector is divided into two parts: the first part of this support package have been paid to air and rail transportation sectors, which have been seriously hurt by the pandemic and the second package has been dedicated to over-the-road public transportation sector,” he was quoted as saying by the news portal of the ministry.
The official added, “In total, 203,000 applications have been approved for government-backed loans by transportation companies, of which 155,000 or 76% have reached the payment stage; the documents and collaterals of the rest are under review.
“In the air transportation subsector, 29 applicants requested for 25,530 billion rials ($106.37 million) worth of loans, of which 15 companies received more than 22,000 billion rials ($91.66 million) i.e. 86% of overall requested loans.
“In the rail transportation subsector, 58 applicants requested for 8,900 billion rials ($37.08 million) worth of loans, of which 23 companies received 2,300 billion rials ($9.58 million) i.e. only 26% of requested loans,” he said.
The average goods and services Consumer Price Index of “transportation” in the 12-month period ending April 20, which marks the end of the first Iranian month of fiscal 2021-22, increased by 65.9% compared with the similar period of the year before, the highest among 12 groups of the basket of consumer goods and services purchased by households.
With a coefficient of 9.41%, the CPI of the group stood at 379.7, indicating a 2.5% increase compared with the month before.
The index registered a year-on-year increase of 56.3%.
