Stimulus package helps companies pay salaries Jun 30, 2020 0 7598 12345 Santhosh ChandranDohaSoft loans being disbursed under a stimulus package to companies struggling with cash flow amid the COVID-19 pandemic have helped thousands of employees get their salaries.In March, shortly after a host of restrictions were imposed on commercial activities to contain the spread of COVID-19, Qatar announced a QR75 billion stimulus package to shield the economy from the virus impact.The government later launched a COVID-19 National Response Guarantee Programme to help private firms meet their immediate payroll and rental fee payment requirements.Under the programme, the government has allocated local banks QR3 billion guarantees to finance staff payroll as per the Wage Protection System (WPS) registry and rental payments on a monthly basis.The soft loans have come as a relief for several companies, especially the small and medium enterprises, which were struggling to meet the critical payments due to the pandemic impact on their consumer and business spending.According to some of the beneficiaries, a clean track record in salary and rental payments would go a long way in securing the loans.Chartered accountant and Managing Partner of Parker Russal Shanavas Bava said the government has taken utmost care in ensuring that the benefit of the wage stimulus reached the employees.“The loan amount will be transferred directly to the employees’ accounts. It can only be used to pay salaries and rents and cannot be diverted for any other purposes,” he said. “This reflects Qatar’s commitment to ensure timely payment of salaries to the employees,” he added. K R Jayaraj, Regional Manager of Techno Steel and the President of Kerala Business Forum (KBF), said, “The government’s vision behind the economic package is commendable. It is supporting companies to meet their basic financial requirements.”Abdulla Theruvath of the Indian Business Professionals Council (IBPC) said the support extended by the government to the business community is highly appreciated.“The support offered by the government is a big relief to a number of financially-disciplined companies in the SME sector,” he added. RELATED ARTICLES FM, Iranian counterpart review ties Jun 30, 2020 0 3625 Katara makes necessary arrangements for beach reopening Jun 30, 2020 0 6509 MME sanitises parks, cleans beaches Jun 30, 2020 0 990 ‘Enough hospital beds, ICUs key to success of our COVID-19 response’ QNA Doha Minister of Public Health HE Dr Hanan Mohamed Al Kuwari has praised the commendable work done by COVID-19 System Wide Incident Command Committee (SWICC) in limiting the spread of the virus. “At the beginning of .. Shura okays amended draft law on press, publications The Shura Council has recommended amending five articles in the draft law for regulating the press, publications, publishing, media activities and the arts and approved it as amended. The Shura Council, chaired by .. Amir congratulates president of Malawi QNA Doha His Highness The Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani on Monday sent a cable of congratulations to President Lazarus Chakwera on the occasion of his swearing-in as President of the Republic of .. 299 more mosques to reopen on July 1 The Ministry of Awqaf and Islamic Affairs will reopen 299 more mosques under second phase of gradual lifting of COVID-19 restrictions from July 1. “Following the procedures of second phase for reopening mosques .. Restaurants to resume operations in some tourist areas from July 1 Tribune News Network Doha Restaurants in some tourist areas will be allowed to resume their operations following certain precautionary measures as part of the Phase II of the gradual lifting of COVID-19 restrictions ..