Ruling the Kingdom or a country does not mean living a luxurious or a carefree life. It takes a heart and mind to think about each and every citizen living within your jurisdiction.
The whole area falls into the hands of the King or the Ruler, and the ones who think and hit the right decisions at the right times live in the hearts of the people in a good manner forever.
King Salman and Prince Muhammad bin Salman are doing an extraordinary effort in putting the things in the right direction, keeping in mind the past, working in the present and thinking about the future.
The economy of the Kingdom of Saudi Arabia mainly depends on the oil reserves, putting on more taxes on oil products and VAT (Value Added Taxes) on the purchase of many listed items produced and present in the market as well as on sale and purchase of the real estate will generate more revenue making the Vision 2030 Saudi program more feasible.
In addition to the implementation of taxes and hike in fuel and other prices from January 1st, 2018, King Salman bin Abdul Aziz passed a very welcomed Royal Decree the night of Friday.
It was like a giveaway, a consideration along with the fixed salaries and pensions already appointed for the government, military and civil officers. This was announced in coordination with the Crown prince, deputy premier, and ministry of defense
1-He ordered throughout this year, all the Government staff will be paid SR1,000 allowance every month.
2-He also ordered the payment of SR 500 to the military personnel working on the Yemen borderline.
3-Moreover, Allowances for students, retirees, and social security recipients were also increased. King Salman bin Abdul Aziz ordered to pay SR 500 as monthly allowance for the retiree and this will be added to the pension distributed by Public Pension Agency and General Organization for Social Insurance (GOSI).
4-The monthly fees of Saudi students will also boost to 10% this year.
5-The government will bear the VAT on the purchase of the first house price up to SR 850,000. The government will also bear the tax for those who receive private health and private education services.
6-He further said all the salaries to the workers will be paid on 27th of each month and the bills will be issued few days after the salaries will be received.
All the allowance will be paid from January 1, 2018. These are the benefits that will be paid only to Saudi citizens, and expats will continue to receive their current packages.
After these decrees, the people of the Kingdom expressed their joy and they should be because indeed it was a great step taken by the government for the betterment of the people.
Last month, the government introduced a new welfare system to help approximately 3 million low-income Saudi families and 10.6 million beneficiaries. Half of those families received SR 938, while the minimum payment paid to some families was SR300.
The government already paid SR 2 billion in its first installment and is expecting to pay 32 billion Riyals ($8.5 billion) on the citizenship account payment in 2018.
The Kingdom’s recent economic reforms have seen the country ranked 10th in a report on the World Bank’s Minority Protection Index, this was claimed last year by the ministry of commerce and investment.
Report from the World bank group claimed that kingdom is ranking on 2nd number among the top high-income countries and are implementing reforms and improving the business condition.
Source: Arab News