JEDDAH — The government of Saudi Arabia has taken quick initiatives to settle all the outstanding dues owed to the private sector over the past years. The Chambers of Commerce and Industry in various regions of the Kingdom have recently received a request from the Governmental Committee for the Payment of Private Sector Dues, urging them to calculate the outstanding debts owed by government agencies to the private sector and submit them. This is a move expected to be followed by the announcement of the payment of dues soon, Asharq Al-Awsat newspaper reported. Subsequently, private sector companies and establishments are in the process of calculating the dues owed to them by the government agencies. The government move is aimed to further mitigate the impact of coronavirus pandemic on the national economy, especially on the private sector. The government has announced dozens of initiatives and programs aimed to revitalize the economic sectors and commercial activities, as well as to support small and medium enterprises with enhancing liquidity of the businesses. Last week, Minister of Finance Muhammad Al-Jadaan announced the allocation of SR50 billion ($ 13.3 billion) to accelerate the payment of dues owed to the private sector. This move was in addition to an initiative to deduct 30 percent of electricity bills for the commercial, industrial and agricultural sectors, while supporting individuals working in passenger transport activities by paying the minimum amount of salaries for them.
