Title: Parliament Strengthens Oversight: 2025 Employment Loan Nears Final Stage
Tehran – In a significant move to bolster national economic resilience and support entrepreneurial initiatives, the Iranian Parliament is intensifying its scrutiny over the allocation of employment-generating loans. The legislative body is pushing for the swift and complete implementation of the 2025 budget’s provisions, aiming to finalize the approval process for these critical financial facilities.
A Pillar of Economic Development
Access to banking resources is a cornerstone of the government and parliament’s joint strategy to foster employment, particularly for underserved communities. Annually, a specific allocation within the national budget is designated for these low-interest employment loans. They are designed not only to empower individuals to launch or expand their own businesses but also to stimulate broader economic growth. By creating value chains and boosting the national GDP, these facilities serve as a vital instrument for national progress.
The loans provide essential capital for purchasing equipment, raw materials, and covering operational costs for nascent enterprises. Furthermore, directing these resources towards less developed regions is a key policy for promoting a more equitable distribution of wealth and reducing regional disparities.
Addressing Implementation Delays
However, the process has faced challenges. The Central Bank’s recent communication of the employment loan quota to agent banks for the current year came after a significant delay, rather than at the year’s start. This six-month backlog has prompted parliamentary calls for the Central Bank and the broader banking network to accelerate the disbursement of these funds to compensate for the lost time.
Parliamentary Scrutiny Intensifies
In an exclusive discussion, Meysam Zohourian, a member of the Parliament’s Economic Commission, addressed the issue. He pointedly criticized the performance of banks in delivering on their mandated duties.
“Unfortunately, providing small-scale loans to the public is not the priority for banks, and they are not fulfilling their obligations in this regard,” Zohourian stated. “They prefer to allocate their resources to other areas that are more profitable for them.”
He clarified that the allocation shares for various government bodies were set based on their previous year’s performance, a method he found acceptable. The emphasis, he noted, should be on the Ministry of Economic Affairs and Finance to act more proactively, assuring that parliament would exercise rigorous oversight to ensure applicants receive their needed facilities promptly.
A Firm Commitment to Follow-Through
Regarding official statistics, Zohourian acknowledged the Central Bank’s claim of having met its legal duties for other types of loans. However, he highlighted a recurring annual problem with the employment loan portfolio, where the amount disbursed consistently falls short of the committed obligations.
“The parliament will pursue this matter with the government to ensure the full payment of the legal commitments for the employment loan as stipulated in the budget,” the MP affirmed, signaling a determined and watchful approach from the legislature to see this critical economic initiative through to completion.