Qatar Cabinet announces additional support packages for the sectors affected by the closures resulting from the COVID-19 precautionary measures.
Qatar , Qatar
16 April 2021, 12:00 AM
30 April 2021, 12:00 AM
Qatar Cabinet has announced additional support packages for the sectors affected by the closures due to the precautionary measures to deal with the spread of COVID-19.
The Cabinet took the decision in view of the current conditions in the country as a result of the second wave of the COVID-19 pandemic. This is to provide financial and economic incentives to the private sector and mitigate the economic consequences of the pandemic.
As per the decision, electricity and water fees for the closed sectors have been exempted until the end of September 2021.
The National Guarantees Programme at Qatar Development Bank has been extended until the end of September 2021.
Similarly, the period of the exemption from interest has been extended 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 of 2 percent.
The limits of funding salaries and wages for closed sectors have been raised to QR15 million for a single identity card, while retaining the rest of the relevant terms and conditions.
The Qatar Central Bank will continue to support the liquidity of local banks as needed.