Qatari Government Boosts Banking, Local Sectors - Prime Minister Says

Doha, May 31 (QNA) - Qatar has recently issued government and treasury bonds worth QRs 50 billion, in line with its conviction in the need to maintain stability and balance in the national banking system, HE the Prime Minister and Foreign Minister Sheikh Hamad Bin Jassim Bin Jabor al Thani, has said.
Addressing the Fifth Consultative Meeting With Businessmen and Qatar Chamber of Commerce and Industry On Activating the Role of the Private Sector in the Development Process on Tuesday, he also noted that the government had delivered on its pledge to support the country's financial sector, represented in boosting the banking system through buying a 20 percent stake in the capital of national banks over three years, from 2008 to 2010, besides purchasing portfolios and equity in real estate investments at a number of banks worth QRs 15 billion .
The largest ever budget for housing loans, to the tune of QRs 5.2 billion has also been earmarked. Charges on these loans will be reduced to ensure an end to the present waiting lists, he said.
The budget of the current fiscal year 2011/2012 , the largest ever, had been endorsed by HH the Heir Apparent and Deputy Emir, ensuring the strength of the country's national economy, where some QRs 58 billion has been set aside for the major infrastructure projects, showing an increase of 33% as compared with the previous fiscal year.
And as part of the state's continued support for the private sector and securing its needs of raw materials, the government has conducted a study on required materials for its projects such as cement, sand, iron , tar, concrete and sought to make them available in the market to ensure stability of prices.