WATCH:Qatar extends financial and economic incentives for private sector

WATCH:Qatar extends financial and economic incentives for private sector

By QLNews

Since the start of the COVID-19 pandemic, Qatar has worked diligently to protect the wellbeing of its citizens and residents.

To tackle the challenges that arose from the crisis, resulting in the closure of several facilities and services, the country set up a number of praiseworthy initiatives.

Earlier in March, the Supreme Committee for Crisis Management in Qatar announced that under His Highness the Amir Sheikh Tamim bin Hamad Al Thani’s directives, a support package of financial and economic incentives worth QR 75 billion had been developed for the private sector.

Yesterday, at a regular Cabinet meeting, chaired by His Excellency the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani at the Amiri Diwan it was announced that these incentives will be extended in line with the directives of HH the Amir to overcome all difficulties and obstacles facing the private sector.

HE the PM directed the following at the Cabinet meeting:

- The exemption of food and medical goods from customs duties will continue for an additional three months. This should be reflected in the selling price to the consumer.

- The exemption from electricity and water fees will continue for an additional three months for the following sectors: the hospitality and tourism sector, the retail sector, the small and medium industries sector, the commercial complexes in exchange for providing services and exemptions to tenants, and the logistic areas.

- The exemption from rents for logistic areas and small and medium industries will continue for a period of three months.

- The ceiling of the National Guarantee Program that is managed by Qatar Development Bank will be increased from QR 3 billion to QR 5 billion, in addition to extending the program for an additional three months. Qatar Development Bank will issue the necessary controls and conditions for this.

- The automatic renewal of expired licenses and commercial registrations will continue for an additional three months, provided that the fees due are paid later.

Qatar entered stage 2 of Phase 4 of the gradual lifting of COVID-19 restrictions on September 15, 2020.

The Government Communications Office (GCO) yesterday urged all to continue adhering to the established precautionary measures. 

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Source: QNA
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