Central Tenders Committee classifies companies

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KUWAIT CITY, Jan 16: A knowledgeable source disclosed that Central Tenders Committee (CTC) requires the classified companies to update their data as per conditions of the new law, indicating the unit for classifying the companies has held several meetings with CTC to discuss the activities of updated companies, reports Al- Rai daily.

The source added the update process requires classified companies to raise their capital as per the new conditions, indicating the capital of companies classified under category 1 has been raised from KD 500 thousand to KD 10 million while those under category 2 will be KD 5 million.

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