CHP Deputy Chairman Yalçın Karatepe: It will bring bureaucratic burden, not investment

Minister of Industry and Technology Mehmet Fatih Kacır also announced in a statement the other day that applications for the Investment Commitment Advance Loan will begin to be accepted starting from December 20.

CHP Deputy Chairman responsible for the Ministry of Treasury and Finance, Yalçın Karatepe, said that the Communiqué on the Strategic Priority and Technical Evaluation of Investment Projects would bring a "bureaucratic burden" rather than "investment."

CHP's Karatepe pointed out that an incentive element that could be provided as interest support in the current incentive system is being presented as if a new program has been created solely to make the Ministry appear busy and actively engaged. Karatepe also emphasized that the Communiqué clearly states that the Ministry has no decisive role in the review to be conducted by banks for the YTAK, which is understood to be utilized with an annual limit of 100 billion TL from Central Bank resources, and that the finding of an investment as suitable for the Financing Program by the Ministry has no binding effect on the banks that will provide the loan.

News Source: 12punto