Iranian business representatives have urged the Iranian government to adopt supportive measures to protect businesses against financial losses posed by the novel coronavirus.
The heads of Iran Chamber of Commerce, Industries, Mines and Agriculture, Iran Chamber of Guilds, and Iran Chamber of Cooperatives asked the government to provide financial assistance and help prevent recession in the already stuttering economy.
The appeal focuses on extending the maturity dates of loans to late September without penalties, giving low-interest working capital loans to manufactures and extending strict deadlines that employers must meet for paying their monthly share of social and medical insurance premium.
Iran's Supreme Council of Economic Coordination has made decisions to assist the country's small businesses as the outbreak of COVID-19 has partially damaged Iran's economy.
In a meeting held on Tuesday, March 5, the three council members, Iranian President Hassan Rouhani, the judiciary chief Seyed Ebrahim Raisi, and Parliament Speaker Ali Larijani examined the impacts of the novel coronavirus outbreak on the country's economy and discussed plans to provide support for small businesses until the situation returns to normal.
The decisions they have made include a temporary ease on tax payments, customs debts and bank arrears of the micro business sectors.
Iran's economy, particularly its micro economy, has suffered the outbreak of COVID-19 in the country over the past weeks, in addition to the sanction pressure by the United States.