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Smes Collapse Dangerous – No Backing Down On Decision
Despite the weight of parliamentary and popular pressures that the government found itself facing head-on immediately after the decisions it issued last Wednesday, and the stance taken by the Kuwait Chamber of Commerce and Industry (KCCI) yesterday which did not calm the scene, there is no sign or indication or promise of the government’s retreat from the decision.
According to reliable sources, the government will not retreat from its decisions to close commercial activities, in light of the continuous increase in COVID-19 cases.
The directives issued in this regard require studying ways to mitigate the effects of decisions and their repercussions, especially on young entrepreneurs, instead of canceling or writing-off decisions as others believe. Meanwhile, KCCI has entered the crisis line, warning that “the collapse of small and medium enterprises will have a very dangerous economic, societal and financial cost”. In his speech during a meeting with representatives of SMEs, the KCCI Board Chairman Muhammad Al-Saqer said, “The Chamber’s endeavors did not record any success, neither due to its weakness nor error in its directions, but rather due to the faltering and hesitation of the decision, foiling of necessary legislation, and absence of decisions most of the time as well as delay in issuing them.”
He explained that this statement is not related to supporting SMEs but also applies unfortunately to Kuwait’s management of the economic repercussions of the COVID- 19 pandemic in general. Al-Saqer emphasized that, “For the second time, small and medium enterprises have become victims of insufficient and bold study of closure decisions, fear of naming matters by their names, and addressing the real causes of relapse in health efforts”.
SOURCE ARABTIMESONLINE
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