Govt to give up share of SEC dividend for 10 years
Published 15 Sep 2009
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E-Media: Makkah – The Custodian of the Two Holy Mosques said that part of God's favors upon this nation is that the national day would also mark the official opening of King Abdullah University for Sciences and Technology in Thoul, a new great civilization achievement not only for the Kingdom but also for the world at large, and an occasion scheduled to be attended by a number of leaders of the Arab and friendly countries. He said the university will reflect the Kingdom's status and role in contribution to human knowledge and will become a bridge of contact among world civilizations. During his briefing on the 79th anniversary of the national day which coincides the 4th of Shawwal this year, the Custodian of the Two Holy Mosques expressed thanks to Allah Almighty for the great blessings being bestowed upon this nation, topped by the country’s abidance by the Quran and Sunna since its establishment by late King Abdulaziz, and by the significant achievements the country has accomplished in the field of development, Saudi Press Agency quoted. The Cabinet approved renaming the fund established under royal order No. X/41362 dated 20/10/1423 to be the "Social Charity Fund" and approved, for a period of ten years as of 30/12/1430H, the extension of the government's concession of its share of profits distributed by the Saudi Electricity Company.
Last Modified Date: 10/02/2013 - 4:34 PM Saudi Arabia Time
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