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Wednesday, October 28, 2020

Qatar extends incentives for private sectors affected by COVID-19

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The local private sectors has been provided with more financial support by the Qatari government as it struggles to navigate through the pandemic.

Businesses in the private sector could be exempt from electricity and water fees for an additional three months, the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al-Thani said during the cabinet meeting held at the Amiri Diwan on Wednesday.

The sectors that will benefit from the move include hospitality and tourism, small and medium industries as well as retail, authorities confirmed. Commercial complexes that are willing to providing tenants with the same services are also listed among the businesses.

Small and medium enterprises are also absolved from rent for the next three months while automatically renewing their expired licenses and commercial registrations.

Wednesday’s Cabinet meeting also confirmed it would increase the National Guarantee Program’s ceiling by QR 2 billion, raising the overall total to QR 5 billion.

Read also: Small businesses struggle to survive amid COVID-19 pandemic

The programme, managed by the Qatar Development Bank, will also be extended for three additional months.

Food and medical goods have also been excused from customs duties, authorities said, noting this should be reflected in the selling price of said products to consumers.

Qatar has continuously supported businesses to address the hurdles accompanying the coronavirus pandemic.

At the start of the pandemic in March, Amir Tamim bin Hamad Al Thani provided the business sector with an economic boost of at least QR 75 billion to curb the effects of the health crisis on businesses.


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