Qatar offers 3-month extensions to several private sector incentives

By Backend Office, Desk Reporter
Qatar Landscape
Representational Image

The government of Qatar has offered extensions for several financial incentives it announced earlier to help the country’s private sector battered by the pandemic. 

These extensions were provided as part of the directives of HH Sheikh Tamim bin Hamad al-Thani, Emir of Qatar to extend financial support worth $20.6 billion to the private sector.

The new measures which were issued by Dr. Issa bin Saad al-Jafali al-Nuaimi, Qatar’s Minister of Justice and Acting Minister of State for Cabinet Affairs include: 

  • Exemption of customs duty on food and medical goods to three more months with expectations that the benefit will be transferred to the consumer with a reduction in selling price.
  • Utility charges (electricity and water) will continue to be waivered for three more months in sectors:
    • Hospitality
    • Tourism
    • Retail
    • Small and Medium Scale Industries (SMEs)
    • Commercial facilities in exchange for providing services and exemptions to tenants and
    • Logistics.
  • Entities in the Logistics and SME sector will continue to benefit from three more months of rent exemptions.
  • Qatar Development Bank (QDB) managed the National Guarantee Programme will raise its coverage from $823 million to $1.37 billion with an extension of three more months. Necessary controls and conditions towards the same will be issued by QDB.
  • All expired licenses and commercial registrations will be automatically extended for three more months provided that the accrued fee dues are paid at a later point of time.

Qatar has earlier proposed a two step fourth phase ease of economic restrictions initiated on the 1st of September and then on September 15th.