The government has announced relief for the reconstruction of industries, businesses and commercial establishments that were vandalized and set on fire during the last demonstration. The Council of Ministers has decided to give a 50 percent discount on customs and excise duties when importing materials during reconstruction.

According to the notification issued by the Ministry of Finance on Tuesday, a 50% discount will be given on the customs duties and excise duties incurred when importing for restoration and operation of the damage to buildings, furniture, devices and equipment due to arson or vandalism in industry, trade, commercial establishments and economic activities based on the details of the items ascertained from the insurance surveyor's report. 

Star hotels that have already availed the customs duty exemption facility once will get the exemption so that no double facility is available. The period for payment of principal and interest by debtors of industrialists and commercial establishments affected by the movement will also be extended.

"In order to restore economic activity and operate, loans will be provided at a concessional rate with a maximum of 0.5 percent premium added to the base rate," the decision says, "If the vehicles and transportation vehicles that are being used commercially are damaged and need to be purchased, the bank loan will have a loan-to-value ratio of at least 80 percent." It has been decided to provide loans by adding a maximum of 0.5% premium to the rate. 2% subsidy will be provided for 6 months from the National Reconstruction Fund for this loan. It has also been decided to pay up to 50% of the estimated damage from the insurance based on the initial report of the damage. It is decided to immediately appoint a surveyor for the payment of claims created in this way. 

"In the event that the insurance company requests money from the reinsurance company to pay the claim to the insured, arrangements will be made to provide up to 50 percent of the amount as advance payment as soon as possible," the decision said.

It has been decided to re-prioritize development projects for reconstruction and maintenance of public structures, operation of public services, management of election expenses, relief, reduction of unproductive expenses and frugality. Under this, it has been decided to continue with the implementation of the projects that are under construction after obtaining resource consent in the past without allowing the budget to decrease.

It has also been decided to withhold small projects/programs of low importance, which are newly entered in the ministry budget information system, have no preparation and have double entry, according to the Financial Procedures and Financial Responsibility Act.

"Despite the budget allocation under various ministries, withholding budget allocations that are beyond the purpose and in less important areas," the decision says, "Keeping a lump sum budget under various or other headings, withholding the budget that is not useful because the project is not identified." 

- 50% discount on import customs and excise duties for damaged industries and businesses