Saudi finance ministry 'committed' to paying private sector dues

22/01/2019 Argaam

 

Saudi Arabia’s Ministry of Finance (MoF) is committed to paying private sector dues on time, Saudi Press Agency (SPA) reported on Monday.

 

About 99 percent of submitted payment orders received by MoF have being paid within the 60 days previously announced, of which were paid within 60 days; while 97 percent were paid in 30 days. The remaining 1 percent were not paid due to court orders, SPA report added.

 

“There are a small percentage of disputed amounts claimed by certain vendors and contractors which are subject to an agreed dispute resolution mechanism as per the contracts,” SPA added.

 

These vendors and contractors have the right to resort to  contractual dispute resolution mechanisms to resolve and issues, the report added.

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