ECONOMY

Saudi orders inventory of delayed payments to private sector

The decree urged a quick resolution of outstanding payments. (Reuters)

Saudi Arabia has ordered an inventory of all delayed payments to the private sector, state news agency SPA said on Monday, citing a royal decree.

The decree urged a quick resolution of outstanding payments.

It will also establish a committee headed by the trade and investment minister in charge of gathering data on payment delays to private sector contractors.

The committee will look into reasons for the delays and come up with solutions for speedy repayment.

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Last Update: Tuesday, 13 February 2018 KSA 12:34 - GMT 09:34
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