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Guarantee for a decent life for all

18 Aug 2020 By SHADDAD AL MUSALMY

After His Majesty Sultan Haitham bin Tarik on August 17 issued a Royal Decree approving the Job Security Fund, towards which he had donated RO10mn earlier, many citizens welcomed the move saying it will bring job stability in the country.

The long-awaited scheme, which will be implemented in phases from November, will support Omani citizens who have lost their jobs. “The Job Security Fund is supervised by the Public Authority for Social Insurance (PASI), the Ministry of Manpower, and the National Employment Centre (NEC),” said the Government Communication Centre (GCC).

“NEC will help in finding jobs for those laid off, while financial aids will be distributed to the terminated workers until they join new work. However, the period does not exceed six months and the beneficiaries will be given 60 per cent of the monthly salary that the person used to receive,” a GCC statement said.

The second phase of the scheme will be implemented after three years and will benefit job seekers. “The scheme will be funded by both, the government and private sector, as every employee will have to contribute RO1 out of every RO100 of his or her monthly salary,” the statement added.

Many citizens, who showed appreciation for the system and welcomed the idea, said, the move is for the benefit of all. “I welcome the decision from the government. Never before we had such an initiative. This will safeguard the interests of all of us. It is a very small percentage to pay and we won’t feel the pinch while the benefits are higher for the entire population of Oman,” Abdullah al Khaldi, a private sector employee working in an oil field, said.

Another private sector employee, Salim al Tauqi, based in Muscat, said, “This scheme will make sure to give us security in case of emergencies, including job loss. The pandemic showcased how things, including livelihood and business, can be effected in a single moment and how employed people are at risk. This one per cent contribution a month will save us from future disasters.”

The first phase of the programme will be implemented starting November to support those employees who have been laid off. The second phase, which will be implemented after three years, will see funds paid into the programme used as a support fund for job seekers. Fund collection will kick off from January 2021.

Contributors

Government and private Omani employees: 1 per cent of income

Beneficiaries

Any citizen who has been laid off

Job seeker (Later stage)

Basic idea

Securing a decent life for the citizen in the event he or she is dismissed from his job or is looking for work.

Summary of the fund

A national solidarity fund that guarantees stability and a decent life for all.

Established on the orders of His Majesty who contributed RO10mn to it.

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