Debts of companies close to the government wiped out overnight: 70 Billion TL

Within the scope of the Draft Law on Amendments to Certain Laws and Decree-Law No. 375, which was discussed in the Grand National Assembly of Turkey (TBMM) during late-night hours, approximately 70 billion liras in debts owed by companies doing business with the public sector were wiped out through a regulation.

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Debts of companies close to the government wiped out overnight: 70 Billion TL

While the regulation was included in the legislative proposal where pension increases were being debated, it was revealed that severance and notice pay that subcontractor companies were required to pay to their employees had previously been covered by the state, but these amounts were not collected back from the companies.

With the article accepted in Parliament, the collection of these receivables has been waived.

It was stated that the wiped-out debts cover not only the principal amount but also billions of liras in interest.

It was emphasized that the source of the payment in question was the Unemployment Insurance Fund.

Thus, it has been finalized by law that payments made from the fund, which consists of workers' premiums, will not be recovered from the relevant companies.

The regulation drew sharp criticism from the public due to its late-night passage at a time when debates over the "lack of resources" for increasing pensions were ongoing.

News Source: 12punto

Debts of companies close to the government wiped out overnight: 70 Billion TL

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