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Financial Support For Private Sector Companies Dependent On Kuwaiti Employees Status

MP Mariam Al-Aqeel stressed that the cabinet is sparing no effort to provide job security for Kuwaiti workers, in light of the exceptional circumstances the country is going through, which was caused by the coronavirus, reported Al Rai daily.

Al-Aqeel said in a press statement that it is a continuation of the economic stimulus package to ensure the stability of Kuwaiti employment conditions in the private sector, and the Council’s concern for a balance in the relationship between employers and Kuwaiti workers in the private sector. He  added it was also with the aim to preserve Kuwaiti interests, and ensuring job stability for them, and reducing the burden on owners whose work was affected by the coronavirus.

The Council of Ministers issued its decision on 18th February, which includes the disbursement of financial support to employers registered under Chapter Five of the General Organization for Social Insurance, among them the owners of small and medium enterprises, with a view to help them overcome the effects of the coronavirus crisis and protect them against further repercussions to their businesses.

Al-Aqeel added that the decision also included the disbursement of financial support for Kuwaiti workers in the private sector affected by the current exceptional circumstances, and she noted that the payments will be added to the accounts of business owners for a period of six months from the date of issuance  of the decision on May 18.

She pointed out that the decision aims to support business owners by providing them financial support in the business account, to maintain the national employment gains in the private sector, and to ensure job security for the Kuwaitis, as long as the facility is committed to not ending the services of its Kuwaiti workforce or reducing their salaries for a year that begins From the date of implementation of this decision until the end of June 2021.

She stressed the need for companies to commit to signing an acknowledgment and pledging not to end the services of any Kuwaiti employees or to reduce their salaries and maintain their employment until the end of June 2021.

She explained that the provisions of this decision are those from the

private sector employees registered with the General Organization for Social Insurance before 1 March, and they are still working at the jobs, as well as those who applied for registration with the ‘Insurances’ earlier than the date of the decision issued on May 18.

Al-Aqeel reported that the approved financial support for the private sector reflects the extent of the state’s keenness to care for and support the private sector in every way, especially as it is significant in the development of the country.

SOURCE : THETIMES

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