Pursuant to orders by Amir, Council of Ministers issues directives to prepare economic initiatives to support private sector

Doha: Based on orders bythe Amir of the State of Qatar HH Sheikh Tamim bin Hamad Al Thanito reinforce the private sector through various economic init...

Doha: Based on orders by the Amir of the State of Qatar HH Sheikh Tamim bin Hamad Al Thani to reinforce the private sector through various economic initiatives, the Cabinet issued directives to prepare and implement a series of economic initiatives to support the private sector and increase its contributions to the national economy.

The statement by the Cabinet outlined that these initiatives include loan waive-offs for Qatari companies benefiting from the National Response Guarantee Program (NRGP), which was established to support the private sector during the COVID-19 pandemic.

In addition, the Cabinet proposed initiatives to grant short-term financing for Qatari companies, that previously benefited from the NRGP, for working capital.

The Cabinet emphasised that this Amiri gesture comes as part of efforts to support private sector companies in mitigating the economic repercussions that resulted from the measures implemented to curb the spread of the pandemic.

The gesture also aligns with the Third National Development Strategy 2024-2030, which aims to empower the private sector and drive sustainable economic growth, thereby catalysing the nation's comprehensive development journey.