Economy, Domestic Economy

Special Subsidy Plan

Special  Subsidy PlanSpecial  Subsidy Plan

The government plans to classify the domestic industries for receiving the $450 million subsidy package allocated to the manufacturing sector, Mohammadreza Nematzadeh, minister of industry, mine and trade told FNA on Friday. “There is no certain rationing scheme for allocation of subsidies, however, producers will be classified in order to receive the cash payouts,” he said. The manufacturing sector’s share of the national subsidy program will be allocated considering the priority of financing the working capital for each firm and the banks are expected to earmark some financial resources for this purpose, Nematzadeh added. According to the minister, the government aims to cede mines to the private sector and a large number of mines and mining districts are to be put to tender by the end of the current year (March 21, 2015). Attracting foreign investors to resume the operations at those mines which are only partially active is another concern for the government, he said.