Custodian of the Two Holy Mosques Chairs Cabinet's Virtual Session

Riyadh, April 21, 2020, SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired today a Cabinet's virtual session. At the outset of the session, the Custodian of the Two Holy Mosques thanked and praised Allah Almighty for His blessings bestowed on all Muslims on the advent of the blessed holy month of Ramadan, the month of mercy, forgiveness, and emancipation from Hell, praying to Allah Almighty to help all in fasting, praying, and performing good deeds in this holy month and to eliminate all harms being caused by the outbreak of the novel Coronavirus pandemic from the nation and the world. The Cabinet praised the royal order to support the private sector and individuals and raise the health sector's readiness, including allocating SR 50 billion to expedite the payment of dues of the private sector, providing 30% discount on electricity bills for commercial, industrial and agricultural sectors, and allowing the payment of 50% of their value for industrial and commercial sectors. The royal order also included paying the minimum salaries of individuals working in passenger transport activities and rapid activation of the Cabinet’s decision, which requires that companies in which the State owns more than (51%) of their capital, to take into account the general principles and rules for offering business and purchases and give preference to local content and small and medium enterprises. The Cabinet also commended allocating additional funds to the health sector, where the total amount of support reached SR 47 billion to raise its readiness, securing medicines and additional beds, and providing necessary medical supplies, as this comes as an extension of continuous efforts in dealing with effects and repercussions of the novel Coronavirus pandemic and maintaining the stability of the national economy and enhancing confidence in its strength. Acting Minister of Media Dr. Majid bin Abdullah Al-Qasabi pointed out in a statement to the Saudi Press Agency that after reviewing all reports and latest developments related to the Coronavirus pandemic at local and international levels and registered cases in the Kingdom of Saudi Arabia, the Cabinet was reassured about exerted efforts by relevant authorities to achieve highest levels of safety and early containment and protect the health of citizens and residents in implementation of the directives of the Custodian of the Two Holy Mosques and HRH Crown Prince. The Cabinet was also reassured on following procedures and facilitating the return of citizens abroad and ensuring the safety of their arrival in the Kingdom in accordance with highest standards. The Cabinet expressed appreciation to the Custodian of the Two Holy Mosques and HRH Crown Prince for their support for all sectors, close follow-up and unlimited support to preserve humans, and providing all necessary reasons for welfare. The Cabinet praised the Kingdom’s contribution of US $500 million to support global efforts in combatting the novel COVID-19 pandemic, enhancing emergency and preparedness response, developing and deploying new diagnostic tools, therapeutics and vaccines, fulfilling unmet needs for international surveillance and coordination, and ensuring sufficient supplies of protective equipment for health workers. The Cabinet renewed the Kingdom's call on all countries, non-governmental organizations, charitable foundations, and the private sector to take part in global efforts to close the required financing gap in order to combat the COVID-19 pandemic, which is estimated to be over US $8 billion Dr. Majid bin Abdullah Al-Qasabi pointed out that the Cabinet discussed the Kingdom’s keenness to achieve stability in the oil market, its affirmation with the Russian Federation of a firm commitment to implement agreed targeted cuts over the next two years, their continuing monitoring of oil market situations closely, and being prepared to take further measures jointly with OPEC+ and other producers. The Cabinet reviewed topics on its agenda, including some being co-studied by the Shura Council; and was briefed on the outcomes reached by the Economic and Development Affairs Council, the Political and Security Affairs Council, the General Committee of the Cabinet, and the Cabinet's Bureau of Experts in this regard. --SPA