King Salman Issues Royal Order to Register Private Sector Dues

King Salman Issues Royal Order to Register Private Sector Dues

Tuesday, 13 February, 2018 - 10:45
Custodian of the Two Holy Mosques King Salman bin Abdulaziz. (SPA)
Riyadh - Asharq Al-Awsat
Custodian of the Two Holy Mosques King Salman bin Abdulaziz issued on Monday an order to register all late dues of suppliers and contractors within government agencies and to put urgent solutions to end them.

Saudi Minister of Commerce and Investment Dr. Majid bin Abdullah al-Qasabi said that order was based on what was raised by Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Premier and Chairman of the Council of Economic Affairs and Development.

It confirms the Crown Prince's vision of the importance of the role of the private sector as a key partner in achieving economic development in Saudi Arabia.

Qasabi stressed the need to find effective mechanisms to ensure that the payment of contractors' dues.

The minister confirmed facilitation of the governmental procedures for the private sector to enable and motivate it to achieve the Saudi Vision 2030 and address the obstacles and challenges facing the Kingdom to reach a leading commercial and investment position in a fair and stimulating environment.

The order included forming a committee of several government bodies, headed by the minister of commerce and investment, who will take into account all the dues of the suppliers, contractors and the late contractors and their classification in order to know the reasons for the delay in their disbursement.

He will also verify the practices that do not comply with the rules governing the disbursement

The committee will also set up appropriate solutions to pay dues urgently.

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