Etimad platform ensures quick payment of private sector dues: Al-Jadaan

Saudi Arabia’s Ministry of Finance launched its new digital services platform, Etimad that allows government entities and private sector contractors to benefit from advanced procurement e-services, finance minister Mohammed Al-Jadaan, said on Sunday.

The new scheme ensures quick payment of contractors’ dues, as part of the Kingdom’s plan to settle outstanding bills to private contractors within 60 days of receipt.

It also ensures data accuracy, enhances the ease of doing business, boosts transparency, improves performance efficiency, and minimizes the administrative and procedural delays between the finance ministry and beneficiaries.

Etimad will help the ministry avoid unjustified late payments, to cushion against higher costs, Al-Jadaan added.

The platform was established in co-operation with THIQAH Business Services and Saudi Electronic Info Exchange Company (Tabadul).

Last September, the Kingdom said it had paid SAR 525 billion dues under 345,000 invoices for 450 government-related entities, Argaam reported.