Cabinet’s supportive gesture: SMEs get 6-month installment reprieve

The Council of Ministers convened its weekly meeting on Tuesday at Bayan Palace, led by His Highness Sheikh Dr. Muhammad Sabah Al-Salem Al-Sabah, the Prime Minister.

Following the meeting, Minister of Foreign Affairs and Acting Minister of State for Cabinet Affairs Abdullah Ali Al-Yahya made the following statement:

At the onset of the meeting, the Council of Ministers was briefed on the visits undertaken by His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, may God protect him, and the Supreme Commander of the Armed Forces, on Monday evening.

His visits included stops at the Ministry of Defense and the General Presidency of the National Guard, aimed at extending congratulations to the leadership and all members of these institutions on the occasion of the blessed month of Ramadan.

In his speeches during these visits, His Highness reiterated his pride in our armed forces, emphasizing their role as the steadfast defenders and protectors of our beloved homeland. He also extended his gratitude to the dedicated employees of the Ministry of Defense and the National Guard for their unwavering commitment to safeguarding the homeland.

On the other hand, Minister of Social Affairs, Family, and Child Affairs Sheikh Firas Saud Al-Malik Al-Sabah informed the Council of Ministers about the initiation of an award project named after His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, may God protect him, aimed at promoting creativity among individuals with disabilities. The project aims to foster creativity, develop innovative skills, and encourage the generation of creative ideas among people with disabilities.

The Cabinet then reviewed the Ministerial Economic Affairs Committee’s recommendation regarding the proposals submitted by the Ministry of Finance on strategies to enhance and maximize state revenues by effectively utilizing state lands owned by the Ministry of Finance (state property).

The Cabinet listened to an explanation presented by Daoud Suleiman Marafi, Minister of State for National Assembly Affairs, Minister of State for Youth Affairs, and Minister of State for Communications Affairs, regarding the proposal to defer installments owed by small and medium enterprise owners financed by the National Fund for Small and Medium Enterprise Development. The deferral period is for six months, starting from the due date.

This extension is aimed at ensuring the financial stability of small and medium enterprise owners, enabling them to progress and adapt to changes and challenges, thereby benefiting the national economy and preserving the rights of entrepreneurs. The Council of Ministers approved this proposal.