RIYADH: Saudi Arabia plans to expedite the disbursal of outstanding payments to private sector contractors and suppliers as the kingdom seeks to settle its dues that have caused mayhem for some companies.
King Salman issued a royal decree to tackle outstanding payments and form a committee comprising a number of government entities, headed by commerce and investment minister Majed Al Qasabi, state-run Saudi Press Agency reported on Moday, quoting the minister.
The committee will categorise delayed payments in order to ascertain the reasons for late disbursal and uncover any practices that do not conform with payment procedures, such as providing the necessary disbursement documents to the finance ministry.
The committee will work with the head of the Council of Saudi Chambers to resolve pending issues. It will also come up with the appropriate solutions to make quick payments.
