News "Finance" will soon receive the transactions of the contracting companies in compensation

The Saudi Entrepreneurs Organization held meetings with the Ministry of Finance to set up a compensation mechanism for construction companies in the coming period.

The head of the Saudi Entrepreneurs' Authority, the engineer Osama Al Afaliq, explained that the Ministry of Finance was soon to receive the transactions of contracting businesses related to royalties and allocate an independent electronic platform to receive the claims for compensation.

He stressed the importance of establishing a mechanism to obtain minimum compensation for the companies affected by the costs, stressing that the costs to the construction companies had become very high due to costs, which had had a negative impact on their financial obligations.

He stressed that the compensation mechanism should take into account some direct and indirect effects, such as the employment of the company, the high prices of raw materials and increase the costs of subcontractors working on projects .