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Cabinet announces additional support packages for COVID-hit sectors

  • Apr 15, 2021
  • Author: QT02
  • Number of views: 3702
  • Top News

QNA

Doha

The Cabinet has announced additional support packages for the sectors affected by the closures resulting from the precautionary measures to deal with the spread of COVID-19.

The Cabinet, chaired by Prime Minister and Minister of Interior HE Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, took the decision in view of the current conditions in the country as a result of the second wave of the COVID-19 pandemic, and in implementation of the sublime directives of His Highness the Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani to support and provide financial and economic incentives to the private sector and mitigate the economic consequences of the pandemic.

As per the decision, electricity and water fees for the closed sectors have been exempted until the end of September 2021.

The National Guarantees Programme at Qatar Development Bank has been extended until the end of September 2021.

Similarly, the period of the exemption from interest has been extended for an additional year for the National Guarantees Programme to become two years without interest, in addition to two years of payment with interest that does not exceed the Qatar Central Bank rate of 2 percent.

The limits of funding salaries and wages for closed sectors have been raised to QR15 million for a single identity card, while retaining the rest of the relevant terms and conditions.

The Qatar Central Bank will continue to support the liquidity of local banks as needed.

The Cabinet then listened to the explanation provided by HE Minister of Public Health on the latest developments to limit the spread of coronavirus.
The Cabinet expressed satisfaction over the progress of the vaccination against the COVID-19 in Qatar, as 1,168,087 doses of the vaccine have been administered since the start of the national vaccination programme, and the percentage of people who received the first dose of vaccination reached 27 percent of the total number of population and the percentage of people who received the two doses is 15 percent of the total population, thus Qatar ranked ninth in the world in the proportion of people who received vaccination.
The Cabinet praised this achievement and the plans and programmes put in place to vaccinate the entire population in the country.

At the outset of the meeting, the Cabinet congratulated His Highness the Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani on the occasion of the blessed month of Ramadan, asking Allah Almighty to return it to His Highness with good health and happiness, and to Qatar and its honourable people and those who live in Qatar with more prosperity and development under the wise leadership of His Highness, and to the Arab and Islamic nations with security, peace and stability.

The Cabinet then took the necessary measures to issue a draft law on mortgaging movable funds, after the Council of Ministers reviewed the recommendation of the Shura Council on the draft law.

The draft law aims to enable companies and individuals to obtain bank loans with the guarantee of mortgaged movables, and contribute to reducing the cost of loans by creating a guarantee for banks to reduce the risk of defaulting payments, thus supporting small and medium enterprises and their contribution to the national economy.

Among the provisions contained in the draft law are the provisions related to the scope of application, the establishment of the electronic register in the Qatar Central Securities Depository and the data to be recorded in the register, the establishment and enforcement of the right of mortgage, and the rights of the mortgagee.

The Cabinet also approved a draft law amending some provisions of Law No (1) of 2019 regulating the investment of non-Qatari capital in economic activity.

The draft law includes the amendment of Article 7 of the law so that non-Qatari investors can own up to 100 percent of the capital of Qatari shareholding companies listed on the Qatar Stock Exchange.

The Cabinet approved draft decision of the Minister of Finance to apply the requirements of substantial activity to the economic activities practiced in Qatar.

In addition, the Cabinet approved a draft protocol amending some provisions of the agreement between the government of Qatar and the government of Bermuda regarding the avoidance of double taxation and the prevention of financial evasion with regard to taxes on income.

The Cabinet took the necessary measures to ratify an agreement between Qatar and the United Nations regarding the establishment of a United Nations office in the State of Qatar affiliated with the Office of Counter-Terrorism (UNOCT), in support of the UNOCT program related to the establishment of "International Hub on Behavioral Insights to Counter Terrorism" as a UNOCT Program Office in Qatar.