Saudi Arabia’s Human Resources Development Fund has set 3,200 riyals as the minimum wage for Saudi employees eligible for the government support programme, according to local media.
The minimum wage was previously 4,000 riyals, with the move expected to bring about a remarkable increase in the number of Saudi employees who will benefit.
Reducing the minimum wage is one of four modifications introduced by the fund.
Other modifications include calculating an additional 10 per cent support for the affected activities; another 10 per cent support for several other targeted professions, in addition to the inclusion of employees who were hired from July 1, 2019, within the purview of the programme, provided that the support for the beneficiaries began from the date of their registration in the programme.
The programme supports the monthly salaries of Saudi men and women in all jobs and professions in the private sector ranging from 30 per cent to 50 per cent over the course of two years, provided that the employee’s salary is not more than 15,000 riyals.
As part of the programme, private firms also receive an additional 10 per cent support for hiring women and persons of determination, for providing employment opportunities in all cities except Riyadh, Jeddah, Dammam and Al Khobar, and in small, micro and medium enterprises, provided that the maximum support does not exceed 50 per cent of the employee’s monthly pay, or 3,000 riyals, whichever is lower.
The fund seeks to ensure maximum benefit to young Saudis through the employment support program and increasing their participation in the labour market. This program also aims to empower private sector establishments, ensure their stability and develop their performance, and mitigate the economic impacts and repercussions of coronavirus.
The new modifications have been made following a series of workshops held by the fund’s branches with several sectors in the labour market and a number of chambers of commerce and industry in various regions in the kingdom.
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SOURCE : GULF NEWS