545 idle industrial units revived since late March

September 1, 2020 - 15:25

TEHRAN- An official with Iran’s industry sector announced on Tuesday that 545 idle industrial units have been revived throughout the country since the beginning of the current Iranian calendar year (March 20), IRIB reported.

Asghar Mosaheb, the deputy head of Iran Small Industries and Industrial Parks Organization (ISIPO) for small industries affairs, also said that reviving the mentioned units has created jobs for 9,800 persons.

Saying that out of the 45,000 small and medium industrial units in Iran’s industrial parks, 9,500 units are currently inactive, the official announced that ISIPO plans to revive 1,500 units in the current Iranian year.

As the result of the 545 units coming back to the production cycle, the ISIPO’s plan for reviving the small and medium industries in this year has come true by 36 percent, Mosaheb noted, adding that the organization plans to create 27,000 jobs through reviving such units in the current year, and by reviving the above-mentioned units, its plan in this due has been realized by 36 percent as well.

As previously announced by Mosaheb, ISIPO managed to revive 1,185 idle production units across the country during the past Iranian calendar year.

According to the official, the mentioned units returning to operation created direct jobs for 21,618 persons.

The ISIPO head has recently said that 21 percent of the country’s idle production units have been revived by the Industry, Mining, and Trade Ministry.

Mohsen Salehinia said that providing liquidity is the main issue for many of the country’s production units, so based on the arrangements made, these units can receive part of their needed liquidity through bank facilities.

"Currently, the share of the country's production and industrial units in receiving bank facilities is about 31 percent and it is necessary to allocate a larger share of banking facilities to the country's production and industry," he added.

Given the position of production in the country's economy and employment, and the fact that production units are facing lack of liquidity to supply raw materials and equipment, it is necessary to increase their share of bank facilities up to at least 40 percent, the official stressed.

The ISIPO head further said: "Despite all the limitations, we are currently witnessing an increase in production in some units active in the field of home appliances; also, according to the plans made and by solving the problems in the way of the production and industrial units, we will realize the motto of “Surge in Production” by the end of this year.”

MA/MA

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