Title: New 500-Million Toman Welfare Card Unveiled as Part of Government’s Comprehensive Economic Support Package
In a significant move to bolster economic resilience and support citizens, the Iranian government has announced the activation of a new welfare card scheme, a key component of a broader strategy focused on sustaining employment and empowering the private sector.
A Dual Approach: Sustaining Livelihoods and Employment
A government spokesperson emphasized that while direct subsistence aid is necessary, its effectiveness is limited without fundamental steps to preserve jobs. Consequently, government policy is squarely focused on backing small and medium-sized workshops and enterprises, which are vital to the nation’s economic fabric.
Engaging Experts and Tackling Energy Challenges
The administration’s approach has been methodical, involving extensive consultations. The President has held numerous meetings with economic specialists, market activists, and university professors to chart a path forward.
Addressing a critical challenge for industries, a special working group, led by the Energy Minister, is actively pursuing solutions to reduce electricity and gas shortages. While the integration of approximately 2,500 megawatts of solar power into the national grid is a positive step, officials acknowledge that more work is needed to fully meet industrial energy demands.
Specialized Taskforces and Private Sector Backing
To address systemic issues, specialized taskforces have been established in key areas such as taxation, liquidity, and foreign currency. These groups are working to ensure producers are not unfairly burdened, particularly during the current economic period. Liquidity and currency issues are being followed up in close cooperation with the Central Bank and other relevant organizations.
The government has reiterated its full awareness of the private sector’s importance and is committed to resolving its challenges through continuous reporting and the actionable plans of these taskforces.
The Flagship Initiative: The 500-Million Toman Welfare Card
A central pillar of this support is the newly activated welfare card, linked to the “Gam” bonds. The credit limit for these cards has been raised from 300 million to 500 million tomans, with a 24-month repayment period. Citizens can obtain these cards at branches of Tejarat, Mellat, and Melli banks.
These cards are connected to reputable retail outlets, enabling the purchase of home appliances and durable goods. This initiative is designed to simultaneously provide direct relief to families and stimulate small and medium-sized businesses, which account for 70% of the country’s employment.
Expanded Financial Facilities for Broader Support
The government has also detailed a wide range of enhanced financial facilities:
- Individual loan ceilings have been increased to 200 million tomans with a 60-month repayment period.
- For specific professions, facilities of up to 350 million tomans with a 60-month term are available.
- Employer facilities have been raised to 5 billion tomans per employed individual.
- Knowledge-based and technology companies can access loans of up to 900 million tomans with a 48-month term.
- For micro-loans, user credit assessment and a guarantor are required, with the ceiling now elevated to 350 million tomans.
The spokesperson also noted that in recent years, a total of $395 million in foreign currency has been allocated to support the country’s industrial development.
A Coordinated Push for Economic Prosperity
In conclusion, the government affirmed that the Ministry of Economy is pursuing extensive measures for economic prosperity. Efforts are concentrated on opening new economic pathways and mitigating the impact of external pressures, with coordinated actions being implemented to support both the public and economic activists.