According to Khabaronline news agency, the plan to purchase goods on credit, which is designed to strengthen the purchasing power of subsidized households and use the capacity of lending companies, has finally entered the implementation phase. According to the announcement of the Subsidy Targeting Organization, applicants can register and choose their credit provider company by referring to the official arm of this organization in Messenger Yes. It will be possible to buy goods from November 25.
Hassan Nowrozi – CEO of Subsidies Targeting Organization – announced this news and stated: This plan is designed with the aim of strengthening the purchasing power of households, supporting people’s livelihood, facilitating access to needed goods and using new capacities for credit purchases.
According to him, within the framework of this plan, applicant households can receive purchase credit up to twice the amount of their monthly cash subsidy. The use of this credit is optional and its repayment will be done in two installments according to the executive regulations and from the household subsidy.
Nowrozi also announced the provision of technical and informational infrastructure to connect credit companies to the systems of the Subsidies Targeting Organization and announced that applicants can complete the registration process and select the credit company by referring to the official arm of the organization in Messenger Yes.
From the initial call to the implementation stage
The Organization for Targeting Subsidies has followed its preparations in several stages during the past months. The first executive framework of this program was proposed in April this year in the form of a mechanism to use the cash subsidy capacity with the aim of increasing the purchasing power of households. At that stage, heads of households from the first to third deciles had the possibility to use purchase credit up to twice their monthly subsidy, and shopping through service provider platforms and a network including more than 17,000 stores on the contract side was anticipated. Credit repayment was also defined in installments.
Further, on May 30, the Subsidy Targeting Organization issued a call for the creation of a network for purchasing goods with cash subsidy credit, seeking to develop this mechanism and attract platforms that provide financial services and sell goods. At that stage, the use of credit for face-to-face and face-to-face purchases of goods and services and the participation of active companies in this field were considered.
The next step was taken in September; When the Subsidies Targeting Organization, in line with the implementation of the Cabinet of Ministers’ approval letter, invited eligible companies to announce their readiness to participate in the plan. According to this call, the applicant companies must have a wide network of contracted stores and face-to-face and virtual sales systems, in addition to having financial and technical capabilities, and provide the possibility of providing interest-free credit equivalent to twice the monthly cash subsidy of the household. The deadline for announcing the readiness of the companies was also set until 24 September.
Now, with the announcement of the beginning of household registration and the determination of the time to start purchasing, it seems that the plan has passed the stage of attracting and evaluating credit companies and creating infrastructure and is approaching the stage of operational use by households.
Reimbursement from the subsidy
One of the main features of this plan is the possibility of using more credit than the monthly cash subsidy amount; This means that households can use the purchase credit up to twice their subsidy without receiving conventional banking facilities and repay the amount in two installments from the cash subsidy.
However, the optionality of using credit and the necessity of repaying it are two important points in evaluating the level of acceptance of this program by households. In fact, this plan does not mean an increase in the amount of cash subsidy or the payment of a new grant, but it is a mechanism to advance a part of future subsidies with the aim of providing purchasing power at the present time.
The level of acceptance by households will depend on factors such as the ease of registration, the variety of lending companies, the extent of stores on the contracting party, the list of products that can be purchased, and the terms of repayment. Details such as the final list of eligible products, the names of the credit companies and the store network have not yet been determined.
To register and get more information, applicants can refer to the official arm of the Subsidies Targeting Organization in Yes messenger at https://ble.ir/hadafmandi_yaranehbot.
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