Saudi Arabia extends support for private sector employees for an additional 3 months – economic – world today

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The Governor of the Saudi General Organization for Social Security, Sulaiman bin Abdul Rahman Al-Qweiz, stressed today, Sunday, the keenness of the leadership and government of the Kingdom to mitigate the social and economic impacts of the corona pandemic (COFED-19) on private sector facilities by extending support for an additional period for Saudi workers In private sector enterprises affected by these repercussions.

Al-Quwaiz added that the support was extended for a period of three months starting from August next, and details of the eligibility requirements, the application mechanism, the due activities and the amount of support will be announced during the next ten days, according to the Saudi Press Agency (SPA).

He pointed out that the Foundation contributed through the insurance system against unemployment, “Sand” in mitigating the effects of the Corona crisis on the private sector, as the employer was exempted from the obligation to pay the monthly wage to the beneficiaries, in addition to being exempted from paying insurance contributions for all subscribers benefiting from this Subsidy, which resulted in a decrease in the number of excluded workers in the private sector during the first six months of the year 2020 by more than 10% compared to the number of excluded during the same period last year.

He explained that the support for the coming period will include 70% of Saudi workers in the most affected establishments, and a maximum of 50% of Saudi workers in the least affected establishments, as determined by the relevant committee in this regard that includes both the Ministry of Finance, the Ministry of Economy and Planning, and the Ministry of Human Resources and Social Development , And the General Organization for Social Insurance, which has seen this support continue for an additional period.

Al-Quwaiz indicated that the initiative to support Saudi workers in the private sector through the “Sand” system comes within the governmental initiatives to support individuals, the private sector and investors to mitigate the financial and economic effects of the repercussions of the Corona pandemic,

Over the past three months, more than 90,000 establishments have benefited from the “Sand” initiative, and more than 480,000 subscribers have benefited from them, disbursing more than 3.5 billion riyals.

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