ORDER FOR QUICK RESOLUTION TO DELAYED PAYMENTS OF PRIVATE SECTOR
Saudi Arabia has ordered to make a complete list of all delayed payments to the private sector companies in the Kingdom, reported Saudi Press Agency (SPA) citing a royal decree.
The order also recommended to establish a committee headed by the Minister of trade and investment for gathering data on delay payments to the contractors of private sector.
- The decree will introduce a quick resolution of outstanding payments.
- The committee will look into the reasons for the cause of payment delays and will come up with solutions for speedy repayment for them.