Committee seeks solution to Saudi Telecom, National Water debt dispute

16/03/2015 Argaam
A higher committee was formed to resolve an ongoing dispute between Saudi Telecom Co. (STC) and National Water Co. (NWC) regarding the operator’s uncollected loans, according to a report published by Saudi Arabian Al-Watan newspaper.
 
The move comes after the royal court and Saudi’s General Auditing Bureau (GAB) reviewed the performance of state-run companies. 
 
The committee will include representatives from the royal court, ministry of finance, the Public Investment Fund (PIF), GAB, and STC. 
 
Directives were given to the ministry of water and electricity and PIF to select a financial adviser to estimate the doubtful loans owed by STC to National Water.

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