Thursday, 06 May 2021 07:42 GMT

Qatar- Cabinet announces additional support for businesses hit by Covid closure

(MENAFN - Gulf Times) * Water, electricity charges exempted until the end of September 2021

* QDB's National Guarantees Programme (NGP) extended until Sept end Interest exemption period for NGP extended from one year to 2 years

* Salary funding limits raised to QR15mn for a single identity card

* Continued QCB support to the liquidity of local banks, as needed

The Cabinet has announced additional support packages for sectors affected by the closures resulting from the Covid-19 precautionary measures enforced in the country, Qatar News Agency (QNA) reports.
This came at the Cabinet's regular meeting chaired by HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani on Wednesday via videoconference.
Following the meeting, HE the Minister of Justice and Acting Minister of State for Cabinet Affairs Dr Issa bin Saad al-Jafali al-Nuaimi issued a statement giving the details of the proceedings.
In view of the current conditions in the country as a result of the second wave of the Covid-19 pandemic, and in implementation of the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to support and provide financial and economic incentives to the private sector and mitigate the economic consequences of the pandemic, the Cabinet adopted additional support packages for sectors affected by the closures resulting from the precautionary measures taken to deal with the spread of Covid-19, QNA said.
These are as follows:
* Exemption from electricity and water fees for the closed sectors until the end of September.
* Extension of the National Guarantees Programme at Qatar Development Bank until the end of September.
* Extension of the period of exemption from interest for an additional year for the National Guarantees Programme, to become two years without interest, in addition to two years of payment with interest that does not exceed the Qatar Central Bank rate + 2%.
* Raising the limits of funding salaries and wages for closed sectors to QR15mn for a single identity card, while retaining the rest of the relevant terms and conditions.
* Continued support by Qatar Central Bank for the liquidity of local banks as needed.


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