Labor and Social Development Labor and Social Development ": 364 thousand enterprises benefit from the combined bill initiative to pay the difference of the financial remuneration for 2018
Date Last Update 18 Apr 2019
Beneficiaries Labor Sector .
Sector Establishments . Individuals .

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Labor and Social Development ": 364 thousand enterprises benefit from the combined bill initiative to pay the difference of the financial remuneration for 2018

According to the Ministry of Labor and Social Development, 364,000 enterprises in the private sector will benefit from the consolidated bill initiative, of which 316,000 facilities in the platinum, green, medium and low-waist bands will benefit from immediate support and 48,000 facilities in the yellow and red range, Of the conditional support for the initiative if the rate of settlement was raised and the average range for the previous 52 weeks was increased to green and above during the period of one year from the date of launching the initiative. The consolidated invoice initiative for repayment of the remuneration for 2018, which was approved by the Holy See in collaboration with the Private Sector Stimulus Bureau, states that the institutions committed to the settlement, with an average duration of 52 weeks in platinum, green, green, medium or low green , The collected invoice fees will be refunded to them if they were paid earlier, and if they are not paid, they will be exempted from the full invoice value for 2018. The initiative includes an incentive period for enterprises in the red and yellow ranges to move to higher ranges and to raise average settlement rates within one year to benefit from the initiative's support. The initiative is one of the initiatives of the private sector stimulus plan, which has allocated SR 200 billion. The sum of SR 11.5 billion has been allocated to this initiative as a direct stimulus to private sector enterprises that develop Saudi human resources and play an important role in the vision of the Kingdom 2030.

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