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Tuesday, October 19, 2021

Qatar issues support packages for businesses affected by Covid-19


Qatar’s Cabinet has announced additional support for business affected by restrictions due to the second wave of Covid-19.

Additional support packages for businesses hit by closures due to precautionary restrictions have been announced by Qatar’s Cabinet.

As Qatar grapples with its second wave of Covid-19, nationwide restrictions have been implemented to curb the spread of the virus.

These have included bans on all dine-in options at all restaurants, cafes and eateries and malls operating at a decrease capacities, markets closing on the weekends. Restrictions also saw the closure of cinemas, theatres, gyms, sports clubs, barbers and beauty salons, massage and jacuzzi services, saunas, steam rooms and Moroccan and Turkish baths.

Due to the current conditions, authorities on Wednesday implemented directives to mitigate the economic consequences of the pandemic.

Among the moves is exemption from electricity and water fees until the end of September for businesses affected by closures.

Meanwhile, the National Guarantees Programme at Qatar Development Bank will also be extended until the end of September while the interest exemption period will now stand for an additional year.

Limits of funding salaries and wages for affected sectors have also been raised to QR 15 million for a single identity card, while still adhering to the rest of the relevant terms and conditions.

The Central Bank liquidity support for local banks will also remain as per cabinet decisions.

Read also: BREAKING: Qatar ramps up restrictions on country’s deadliest Covid-19 day

Since the the start of the pandemic in March last year, Qatar has jumped in to support businesses to address incoming hurdles and economic burdens.

Last year, Qatar’s Emir Tamim bin Hamad Al Thani provided the business sector with an economic boost of at least QR 75 billion to soften the blow of the health crisis on businesses.

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