Al-Marsad newspaper: The investor in the field of restaurants, Ali Al-Saif, revealed the challenges and obstacles he is facing in the restaurant sector during the current period and prompted him to leave the trade and return to his job.
Al-Saif said, during an intervention on “Sky” on the “Yahla” program, “The decrease in purchasing power due to housing loans, gasoline, taxes, the abolition of the cost of living allowance, and a significant increase in competition and fees.”
He pointed out, “The crisis that the restaurant sector is going through today is greater than the crisis of 2018, and is greater than the crisis of Corona 2020,” noting: “I challenge to ensure that it informs the numbers of defaulters who are now in the market.”
He explained: “I benefited from the guarantee program and took one and a half million riyals and signed a paper that guarantees me 95% of the value of this financing.”
He continued, “Today, I did not pay, and the bail program must guarantee me, because I am damaged, and I have proof of that.”