Latest News
- Kuwait Arrested 18 Drug Dealers
- 8 More Mental Health Clinics To Be Open
- Fishermen's Makeshift Houses Ordered To Be Removed By Kuwait
- Kuwait Cracks Down On Bachelors
- Non-oil Exports Of Kuwait Reached 106 Million Dinars In January,...
- Kuwait Joins The Global Celebration Of World Press Freedom Day
- Kuwaitis In UAE Advised To Exercise Caution Amid Unstable Weathe...
- MEW Has No Plans For Power Cuts And Is Ready To Tackle The Summe...
- Allow Employees To Transfer If Their Monthly Dues Are Not Paid
- Appeal Court Upholds Death Ruling In Friend’s Kill
- Pakistani Expat Died In A Tragic Accident
- The Hourly Domestic Workers Service Is A New Scam
Contractors Owed About Kd 4 Billion By Kuwait Government
According to informed sources, the pending payments by the government to contractors and companies contracting with ministries and government agencies is approximately KD 4 billion. The value of these claims is likely to rise to about KD 5 billion at the end of 2021. This constitutes 21.7 percent of the total expenses of the current fiscal year, which is estimated at KD 23.048 billion, reports Al-Rai daily. The sources explained that those affected by the delay in government payments, whose circle expands to include a long list of names of operational entities, some of which won government contracts about two years ago, have prepared a preliminary inventory.
In this, they showed that there are contractual payments they were due to receive from ministries and government agencies from 18 months ago. These outstanding amounts include direct contractual payments, specific facilities, and bidding payments. Banks do not seem far from the risks of delaying the payments to contractors and companies, as they noted their association with approximately KD 1.5 billion, from the partnership arrears. These amounts are not necessarily classified as loans, but entail banking classifications with the implementers in the form of finances, credits, transfers and sureties and other services provided by banks to companies and contractors winning government projects.
Â
Â
SOURCEÂ ARABTIMES
Trending News
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Ministry Announces Separate Time For Amnesty Seeke...
21 April 2024
-
The Ministry Connects With Violators Of Residency...
23 April 2024
-
Work Permits Will Be Issued For One Year Under The...
27 April 2024
-
AstraZeneca Admits Covid Vaccine Can Cause Rare Si...
29 April 2024
-
3 Expats Caught In Salmiya With 213 Bottles Of Loc...
23 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Al-Nuer Festival Celebrates Kuwaiti Agriculture Wi...
22 April 2024
-
Peak-time 'cut-offs' Raise Fears Of An Electricity...
22 April 2024
-
Road Trip From Kuwait To Bahrain Via Saudi: Travel...
22 April 2024
Comments Post Comment