COVID-19: Saudi Arabia disburses N910bn to private sector workers, stops tax

Saudi Arabia’s King Salman has ordered the disbursement of 9 billion riyals (N910billion) to private-sector workers amid the COVID-19 outbreak even as it has postponed some government fees and taxes.

The government said this was to deter companies from laying off staff.

The emergency stimulus package was announced in March to boost the economy.

“Instead of terminating the employment of a Saudi citizen, the employer has the right to ask social insurance to disburse as compensation 60 per cent of his salary over a period of three months.

“With a maximum limit of 9,000 riyals (per employee) and with a total value of up to 9 billion riyals (2 billion pounds),” Saudi Press Agency on Friday quoted the order.

Finance Minister, Mohammed al-Jadaan explained that the package was part of 70 billion riyals set aside to help businesses.

In Nigeria, the Federal Government said it had commenced payment of funds to the people.

But authorities are facing criticisms over the alleged lack of transparency in the disbursement, modalities, record of beneficiaries and actual figure of funds approved.