19/03/2011
Al-Rashed commending on the new royal decrees
Hundreds of billions for "Humanity" , "social" and "economic" and "Healthy" goals
In response to major televised announcement by Custodian of the Two Holy Mosques King Abdullah unveiled on Friday a SR500 billion social spending package that includes a minimum wage and cost-of-living bonus for government workers, unemployment allowances, a boost in housing loans and an increase in health spending..Chairman of Asharqia Chamber; Abdulrahman bin Rashed Al-Rashed praised the royal orders describing its benefit for several goals and projects that serves the country and would promote the welfare of citizens all over the country.
Referring to the Half of the value of the package — SR250 billion — will be used to construct 500,000 homes to address the country’s growing housing shortage. Saying that it reflects the interest of the King to achieve a "Balanced Development" and achieve "justice" as well in the allocating of gains along with the social effects of pleasant orders of all members of the society, without any difference between one region and another.
And on the monthly unemployment payment of SR2,000 to the unemployed starting from Nov. 26, the start of 1433H;Al-Rashed said that this comes as a continuation of the King giving of financial gains.
Al-Rashed commented on the increase in the home-building lending limit at the Real Estate Development Fund from SR300,000 to SR500,000 per loan saying that it reflects the King interest in supporting the national economy and the performance of the private sector as well the business development.
And on the creation of 60,000 new military jobs under the Interior Ministry, Al-Rashed pointed out that this is the royal decree will contribute significantly in solving the employment problem, and will provide ample opportunities for work, thus contributing to the achievement of an important and substantial boost to the national economy..
Commenting on the announcement of setting up of anti-graft body saying that it represents a major step toward the reduction of corruption in some government agencies.
