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350 thousand bond and soft loan: The Government’s financial support to taxi drivers and school transporters

He Government signed this Friday the agreement protocol reached a few days ago with the different unions of paid passenger transport, in which it commits financial aid due to the impact that the sector has suffered as a result of the pandemic.

The measures, which will be sent in a project to Congress, consist of a one-time bonus of 350,000 pesos and an exclusive emergency loan of 320,500 pesos, which can be requested up to three times.

Among those who will be able to access possible contributions are the basic taxis, collective taxis, school transport and urban and rural public transport of regions, grouped in Conttramen, Conatacoch and Confenatach, which negotiated the agreement with the Executive.

“The State is making an effort to directly help a vital sector of our economy and that today it suffers the onslaught of the pandemic, which are the carriers of our country, “said the Minister of Finance, Ignacio Briones.

“With these measures,” he stressed, “we want the country’s transporters, who day by day mobilize Chileans in all corners of the national territory, to be able to face the fall in their income.”

Until now, the Ministry of Transport had allowed expanding the services that used vehicles such as school vans can perform that are not being used, since the face-to-face classes of basic, pre-basic and secondary education are suspended due to the health crisis of the coronavirus, being able to help the transfer of boxes of food and medical supplies, as well as in the transfer of patients to healthcare residences, among other tasks.

ONE-TIME BONUS, BUT SUBJECT TO WITHHOLDING FOR FOOD PENSION

The first instrument is a 350,000 peso bonus, which will be paid only once and that it may be requested for a period of 60 days from the day the law is in force: the contribution will be compatible with all other state benefits that have been approved during the state of catastrophe due to the pandemic.

This aid will not be subject to taxes and may not be subject to administrative withholdings and it will not be attachable either; However, may be withheld for alimony debts decreed by the corresponding Family Court, as is the case with the withdrawal of pension funds and support for the middle class.

In the case of this bond, the General Treasury of the Republic, once notified of the judicial resolution of retention or embargo, will be empowered to withhold up to 50 percent.

SOFT LOAN FOR THREE MONTHS AND WITH A YEAR OF GRACE

On the other hand, there is the loan, which will be “soft” and will have a one-year grace period for repayment -as well as the State Solidarity Loan for the middle class-, and it will also be compatible with other aid that has been approved and delivered during the health crisis.

It is a kind of credit financed by the Treasury, for an amount of 320,500 pesos, which can be requested monthly, for each natural person who is a beneficiary, up to three times: the first two installments can be accessed from September 1 to December 31, 2020, or as soon as the respective law is in force; The third installment, meanwhile, can be requested from March 2021.

The loan will only be readjusted by the Consumer Price Index, so it will have a real interest rate of 0, highlights the Government, and will have a one-year grace period: the first repayment installment will be in September 2021; and the amount must be returned in monthly installments of equal value, in UF, through a coupon that may be electronic and under a payment agreement with the Treasury.

Like the bond, it will not be subject to taxes, it may not be subject to administrative withholdings or attachable, except in the case of withholdings for alimony debts decreed by the corresponding Family Court.

The negotiations with the aforementioned unions were led by Minister Briones, the Undersecretary of Finance, Francisco Moreno, and the heads of Transportation, Gloria Hutt, and of Social Development, Karla Rubilar.

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