Al-Jadaan says all private sector dues were fulfilled by 2017-end

The Ministry of Finance completed all payment orders of the private sector by the end of 2017, Al Yaum newspaper reported, citing Mohammed Al-Jadaan, Minister of Finance.

This is the first time in 15 years that the ministry has fulfilled all payment orders by the end of the year, the report said.

In 2017, the ministry received payment orders until the last day of the year unlike previous years when the orders would stop 45 days before the year-end, Al-Jadaan said at the Makkah Economic Forum on Sunday.

Payment amounts ranging between SAR 20 billion and SAR 30 billion would then be carried over to the next year, he said.

The three main reasons for payment delays in the past were: claims from subcontractors against contractors, disputed claims between the government and the contractors, and claims concerning change orders, the minister said.