Iran Unveils Support Programs for Damaged Industries and Low-Income Households

Iran's Minister of Economic Affairs and Finance, Seyed Ali Madanizadeh, announced new support initiatives during a joint meeting with the Parliament's Social Committee. Addressing economic challenges amid ongoing war conditions, the Minister highlighted that the government has maintained essential services, including early salary payments and uninterrupted customs operations, despite attacks on the banking network. Key measures include the 'Kat' system, offering facilities to small enterprises with fewer than 50 employees that retain staff, with 40,000 firms already registered. A comprehensive policy package for industrial reconstruction was also revealed, featuring low-interest loans, tax exemptions, and grants for large, small, and medium-sized industries. Additionally, the 'Afra' plan was introduced to provide short-term credit to low-income households. The Minister further stated that a 'Reconstruction Fund,' financed through public participation and investments, is being established pending legislative approval. Logistics strategies involve shifting some imports to northern ports and land borders to ensure the supply of basic goods and raw materials, alongside prioritized infrastructure development for road and rail transport.