New Interest Waiver for Lease Arrears: What You Need to Know!

The Cabinet has authorized a one-year Waiver of Interest for state lease arrears, which will be effective from September 1, 2024, to August 31, 2025. During this waiver period, lessees are required to settle their rent arrears in full without incurring any additional interest on these outstanding amounts. This marks the fourth Interest Waiver initiative, following similar measures taken in 2014-2016, 2018, and 2020-2021.