20557
Lending to Small Manufacturers
Economy, Business And Markets

Lending to Small Manufacturers

Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh has proposed a plan to financially help smaller industries. In a letter to the Money and Credit Council—the body in charge of setting monetary policy, he suggested that the name of small and medium manufacturers who manage to repay part of their liabilities be removed from the list of debtors with overdue claims. Currently banks refuse to give money to entities with liabilities. Approving such a proposal can be of great help to smaller production units to tackle their financial issues, making them eligible to receive funds from lenders. Many of these companies are unable to repay their debt due to recession. Nematzadeh proposes that additional loans can help these companies return to growth and repay the rest of their debt. According to Mehr News Agency, the minister’s letter is in fact a guideline on how to give priority to smaller manufacturers when it comes to debt repayment. Nematzadeh believes due to more limited assets and greater vulnerability, smaller industries are in need of more support. Therefore providing them with financial assistance should be on the government’s agenda.

 

 

Short URL : http://goo.gl/amk3EG

You can also read ...

Asian and European economic support for Iran offers the potential to improve existing alternative international trade links and develop new links.
While American President Donald Trump has withdrawn from the...
Uber Chief Product Officer to Leave
Uber Technologies Chief Product Officer Jeff Holden is leaving...
1st USD Rate Hike After Unification
For the first time after the government decided to unify the...
Tesla Model 3
Elon Musk’s Model 3, once touted as Tesla’s $35,000 car for...
Efforts Underway to Unblock Iranian Accounts in Georgia
Efforts are underway to unblock some bank accounts belonging...
Iranians’ per capita honey consumption is 1 kilogram per year, while it is around 200 grams in other countries.
Iran has made noticeable progress in honey production, as it...
The number of foreign students enrolled in Iranian universities increased by 19% in the last Iranian year (ended March 20, 2018) compared to the year before.
Currently, some 55,000 foreign students are studying in...
Transport MoU With Greece
Iran and Greece have signed a memorandum of understanding to...

Trending

Googleplus