Insurance premium postponement in the earthquake zone ends at the end of the month. Representatives of the business world state that it is very difficult to fulfill the collateral conditions required for interest-free restructuring with 24-month installments.
More than 2 thousand industrialists in Kahramanmaras are stuck with the collateral requirement to benefit from the 24-month interest-free restructuring. Industrialists who cannot mortgage their factories, workshops and houses to banks because their factories, workshops and houses are damaged will not be able to benefit from the support because they cannot find collateral.
Speaking to EKONOMİ daily, Kahramanmaras Chamber of Industry and Trade (KMTSO) President Mustafa Buluntu said that more than 2,000 industrialist and 30,000 shopkeepers are not making payments thanks to the current practice, but after November 20, hard times await them.
“Those who cannot benefit from interest-free payment because they cannot obtain collateral may face the cancellation of the Social Security Institution incentive they use if they cannot make the payment” Buluntu said. Stating that they conveyed the issue to the economy management, Buluntu states that the law of obligations needs to be amended. Buluntu continued as follows: “There is no way to provide collateral at a time when access to finance is difficult. The places to be mortgaged for collateral are also not accepted because they are damaged. Urgently, an article in the omnibus law should be issued and the law should be regulated due to force majeure.”
The current application covering Adıyaman, Hatay, Kahramanmaras, Malatya, Malatya, İslahiye and Nurdagi districts of Gaziantep is expected to be completed at the end of the month and collateral is required to benefit from the restructuring with 24 monthly installments.
