Today, Friday, MP Abdul Wahab Al-Issa reviewed a summary of what was discussed in the meeting of the Parliamentary Financial and Economic Affairs Committee with the government regarding improving the citizen’s standard of living.
Al-Issa indicated through his account on the “X” platform that “there was agreement on the government proposal to increase retirees with salaries under 1,000, and this increase will be approved, God willing, in the next session.”
He explained that the government did not object to increasing the rest of the categories of retirees and increasing the Qard Al-Hassan, pointing to the understanding about replacement and increasing the upper limit for retirement, but in order for it to have the ability to achieve this - that is, the government - it stated the necessity of having reforms in our insurance system, including discussion about the possibility of a slight increase. Gradual retirement age begins to be implemented after years so as not to include the largest number of today’s employees, and a slight increase that does not affect citizens in subscription rates to create a state of financial balance in the institution that enhances liquidity to serve retirees.
He said that the government has explicitly confirmed that the increase is coming to employees, indicating that “the government’s initial and not final vision regarding the increase in employees in the public and private sectors will be for segments and not for all. For example, the increase may not include those with high calibers, employees in high-salary bodies, or private sector employees with salaries.” The government did not mention the amount of the increase, as this figure is not ready today. It is expected to be presented to the Finance Committee at the end of the year.
He added: The government requested the Council’s assistance and cooperation in achieving (the increase in employees) by enhancing liquidity with non-oil revenues in the budget, especially since oil revenues are not sufficient to cover the increases, including the tax on harmful goods and the tax on large companies, in addition to its pledge to dry up the sources of waste, pointing out that these requests are not A condition.