Ministry of Finance gets daily payment requests worth SR522mn from private sector

Ministry of Finance gets daily payment requests worth SR522mn from private sector
Ministry of Finance gets daily payment requests worth SR522mn from private sector

We show you our most important and recent visitors news details Ministry of Finance gets daily payment requests worth SR522mn from private sector in the following article

Hind Al Soulia - Riyadh - Saudi Gazette report

RIYADH — Deputy Minister of Finance for Financial Affairs and Accounts Hamad Al-Kanhal said that the ministry had received about 95,000 requests for the payment of the financial support to the private sector with a total value of SR47 billion, with average daily requests of SR522 million.

The requests were received during the period since the outbreak of coronavirus pandemic in the middle of March until the middle of June, he said while addressing a virtual forum on the theme of “The challenges of the contracting sector,” organized by the Saudi Contractors Association.

Al-Kanhal said that the ministry intends to launch soon a service that enables the private sector to raise its financial claims directly through a digital platform. He pointed out that the government has worked over the past years to support the private sector to enable it to contribute to promoting economic growth within the framework of achieving the goals of the Kingdom’s Vision 2030.

“During the pandemic crisis, the government has presented several initiatives aimed at mitigating its financial and economic impacts on the private sector.”

Al-Kanhal said the new version of the competition and government procurement law prevents abuse of power and the impact of personal interests in it and contributes to achieving fair competition and equal opportunities, in addition to promoting the principle of transparency.


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