Minister Işıkhan Announces 51 Billion Lira Employment Support for Manufacturing Industry

Major Resources for the Manufacturing Industry Minister of Labor and Social Security Vedat Işıkhan announced the details of the "Manufacturing Industry Financing and Employment Protection Program," implemented in cooperation with the Ministry of Industry and Technology.
Speaking at a signing ceremony held at KOSGEB, Işıkhan stated that approximately 51 billion liras from the Unemployment Insurance Fund have been made available directly for the manufacturing sector.
The new support package aims to protect a total of 1.1 million jobs.
Cash Support for Labor-Intensive Sectors The first phase of the program focuses on sectors with high employment capacity, such as textiles, ready-to-wear clothing, leather, and furniture.
Employers who maintain their current employment levels will receive a monthly cash support of 3,500 liras per employee.
These supports will be offset against the employers' public debts, serving as a direct financial resource.
Financing Shield for SMEs The second pillar of the program covers SME financing support, affecting approximately 221,000 workplaces in the manufacturing sector.
Businesses will be offered a maximum 6-month grace period for principal payments and maturity options of up to 36 months.
The financing support is provided through the Unemployment Insurance Fund to ease the cash flow of SMEs.
5-Point Incentive to Continue Minister Işıkhan noted that a total of 1.382 trillion liras in incentive payments have been made since 2004.
Recalling that the premium support known as the "5-point incentive" was generally reduced to 2 points, Işıkhan emphasized that the manufacturing sector is exempt from this reduction.
The 5-point incentive application will continue uninterrupted in the sector to protect employment.