Finance Minister calls on government companies to pay a percentage of their profits to public treasury

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Finance Minister calls on government companies to pay a percentage of their profits to public treasury

November 25, 2020 - 22:49
Written by: RabiaGolden

The Minister of Finance, Faraj Bumatari, has called on the heads and boards of directors of public companies to cooperate with the work teams formed by the ministry to collect profits for the benefit of the public treasury.

Bumatari said that the provisions of Law No. 24 of 2016 stipulate that public companies must pay the equivalent of 40% of their yearly net profits, in order to support the state’s general budget.