Iran offers 50% tax exemption for Golestan flood hit production units

By  Trend

Iran's Minister of Industry, Mine and Trade Reza Rahmani has announced that flood-hit production units in the country's Golestan Province would get a 50-percent tax exemption, Trend reports via Fars News Agency.

Rahmani also noted that many production units were not insured.

Since March 19, many roads in Iran have been affected by heavy rainfall that caused flash flooding. The deadly floods were caused by unusually heavy rainfall.

Some reports claim that over 47,000 people have been hospitalized with flood-related injuries, and an estimated $170 million in damages have been caused by the floods.

Speaking about compensations for damages from the flood, Rahmani said that low rate loans will be provided to production units of up to $10,661 and the government is waiting for complete report on industry sector.

Further speaking, Rahmani said that the Aq Qala Industrial Park in the Golestan Province suffered from the flood, as the water level there went up by 2 meters.

"Fortunately, the water level has since decreased, three production units were launched there and the people managed to return to their work places," he said.

"Bridges, infrastructures, entrance of Aq Qala industrial park, buildings and equipment, raw material and products were damaged," said the official, adding that the loans in this case would be provided in accordance with losses.