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English news

22-Jan-2019

Saudi government says 99% of private sector contractors paid within 60 days

KSA’s Ministry of Finance confirmed the government’s commitment to pay for all the contracts signed with the private sector within a 60-day period. The Ministry added that 99% of the payment orders received by the Ministry were paid within 60 days, with the remaining 1% reserved due to judicial orders according to the Saudi Press Agency. The Ministry acknowledged that there was a small percentage of the amount due that was disputed between the contractor or supplier and the government entity, and, hence, the payment was not made in those cases. 
 
 

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