Uzbek President says that businesses may claim compensation for losses during past cold weather

On February 3, Shavkat Mirziyoyev attended an open dialogue in Namangan to discuss the future plans for the socio-economic development of the region. This was reported by the President's press service.

The gathering started with the issues concerning business owners who suffered enormous losses during the recent cold temperatures.  

According to the data, production has dwindled in 3,000 regional industrial companies due to the cold winter this year. Whereas the tax debt has soared.

Therefore, the president said that he signed a special decision to compensate for losses and support businesses. The private sector endured heavy losses and will be given relief in terms of loans, taxes, customs and other payments.

The loan payments of 4.7 trillion soums of 2,000 small and medium-sized entrepreneurs will be extended until June 1, 2023.

29,000 business owners will be given the opportunity to pay their tax debt of 2 trillion soums in instalments by July 1 without interest.

A loan of 8 trillion soums will be allocated to 545 industrial enterprises with reduced capacity to restore production and working capital. Payments for the purchase and lease of state property will also be reduced. A 10 percent property tax discount will be introduced for entrepreneurs for each upper floor of industrial buildings.

"The tangible progress of the Namangan's economy allowed employing 500,000 locals. These plans can be achieved only by relying on entrepreneurs and supporting them,” the head of state said.

For this, preferential loans of 950 billion soums or twice as much will be allocated for the family businesses in the region this year. A special textile zone will be established and 75 billion soums will be allocated for the infrastructure of 15 industrial zones. Also, at least 2 micro-centres will start operating in each district.

The Ministry of Energy was tasked with daily control of the energy supply of entrepreneurs and consistent delivery. The population was told that it is necessary to grow marketable food products on the 9.5 thousand hectares of land distributed for farming. Instructions were given on measures to provide social support to women and youth employment.