Fuel Delivery Licenses Not Granted To Smes

A project to grant small and medium enterprises the ability to provide fuel delivery and resale services outside of conventional fuel stations has been declined by the National Fund for Small and Medium Enterprise Development.

Reports Al-Rai daily that this decision was based on the specific nature of this licensing endeavor as well as the prerequisite of final approval from relevant authorities.

The SMEs Fund Board of Directors does not currently have plans to reopen financing opportunities for new entrepreneurs, according to sources. The resumption of such procedures hinges on various internal processes within the Fund.

A fund operational strategy, aligned with Kuwait's "New Kuwait 2035" development plan, is expected to be developed. This strategy might involve the involvement of specialized companies.

According to these sources, the Small Projects Board of Directors has sanctioned the fund's budget for the previous two fiscal years, with expenses of approximately 16 million dinars.

In addition, the moratorium on installment payments for initiators has ended as of the end of August, according to the decision of the Council of Ministers. In the absence of a new decision extending the payment hiatus, payments are expected to resume starting September 25.

 

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