TEHRAN – A senior industry official said a new support package has been approved to increase credit ceilings for major automakers and their supply chains, following coordination between the Ministry of Industry, Mining and Trade and the Central Bank’s High Council to resolve financing bottlenecks.

Farshad Moghimi, deputy minister and head of the Industrial Development and Renovation Organization of Iran (IDRO), said recent pricing rules across the automotive chain had left Iran Khodro and SAIPA facing working-capital shortages and delays in paying suppliers, making targeted credit assistance unavoidable.

EF/MA