Fakhariya: Dues Deferred Amid Financial Challenges
The Saudi Ceramic Pipes Manufacturing Company has announced the suspension of salary payments to Board members and committee members for the fiscal years 2025 and 2026. In addition, the salary of the managing director has been temporarily suspended until their financial situation improves and cash flow becomes available. The company explained that this decision comes as a result of decreased cash inflows due to delayed collection of receivables and postponed projects, which has put pressure on liquidity and the company's ability to meet its financial commitments. The aim of this decision is to preserve liquidity and reduce financial pressures. The company will review the status of salary payments periodically based on developments in its financial situation.
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