Economy, Domestic Economy

12t Rials Allocated to Industries

12t Rials Allocated to Industries12t Rials Allocated to Industries

The government has allocated 12 trillion rials (above $447 million at official exchange rate) out of its savings from the subsidy reform plan to the manufacturing sector in the current year, ending March 20, 2015, Hossein Aboataie, the deputy minister of industries, mine, and trade, announced on Saturday. The sum will be earmarked in the form of subsidized interest rates on loans provided to the industrial sector, the official added. The ministry of industry is in charge of introducing qualified production units to commercial banks to receive cheap loans.