Kuwait lawmakers requested government to pay six months’ rent and 80% wages for SMEs, according to Al Qabas reports.
kuwait , Kuwait
26 June 2020, 12:00 AM
10 July 2020, 12:00 AM
Kuwaiti parliamentary panel has proposed the state guarantee to pay rents of six months and 80 per cent of salaries for SME’s as of July 1.
The lawmakers also submitted a motion to the Cabinet to open up the largest number of businesses with firm health controls, offering non-refundable grants of no more than 10,000 dinars ($32,500) for each small and medium enterprise (SME), Kuwaiti media reported.
According to Al Qabas reports, the panel also proposed to facilitate banking procedures and extend payment periods, covering all projects, including non-performing ones, and motivating large companies through certain facilities in exchange for using the services of small and medium companies.
The Parliamentary Committee on business environment improvement has received a preliminary approval from chairman of the Higher Committee for Economic Stimulation Dr. Mohamed Al Hashil of the contents of their working paper to support private sector projects during the COVID-19 crisis.