Govt. pledges financial exemptions for Plasco business owners

TEHRAN, Jan. 25 (MNA) – Cabinet’s Wednesday meeting has pledged a number of financial exemptions for business owners doing their business on Plasco building.

Cabinet meeting chaired by President Hassan Rouhani also mandated establishment of a workgroup to address causes of the initial blaze and the following collapse of Plasco 17-storey building, quality of handling the disaster, coordination among different engaged organizations, and measures to prevent similar events in the future and introducing reforms on existing management practices.

Cabinet also made six decisions which will affect the conditions of the businesses acting from Plasco building. Banks are mandated to pay low-interest rate loans and a full year of no payment by the businesses affected; the shares of government and banks in provision of interest of loans will be equal.

The Ministry of Labour is mandated to cover all workers and business owners affected or unemployed as a result of the collapse in terms of providing social security and unemployment benefits; the affected individuals will receive such benefits for 4 months and will receive current month’s payment. All sorts of insurance liabilities of Plasco building business owners will be largely discounted and fines on late payments will be paid over 5 years. They also will receive loans up to $78,000 at an 18 percent interest rate with repayment policy of 3 years to start after a year of no payment.

All employers in Plasco building with 50 per cent loss of property and assets will be exempt from tax debts up to the end of fiscal year ending March 21, 2016; insurance companies are mandated to assess and pay the whole losses accrued upon businesses in Plasco collapse in line with the policy which covered the businesses.


News Code 123028


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