Bahraini Lawmakers Plan Minimum Wage Increase For Citizens
- Publish date: Monday، 25 March 2024
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Bahraini legislators have introduced a groundbreaking proposal to allocate BD200 million from the unemployment insurance fund towards elevating minimum wages and improving workforce training initiatives. The move is aimed at fostering economic growth and empowering Bahraini workers.
Support and Endorsement
فيديو ذات صلة
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The proposal has garnered support from key parliamentary committees, including the Services Committee and Financial and Economic Affairs Committee. Additionally, the Social Insurance Organisation has backed the initiative, indicating a unified front in favor of the stimulus.
Private Sector Involvement
Lawmakers emphasize the importance of involving the private sector in decision-making processes to ensure alignment with industry needs and job vacancies. This collaboration is deemed essential for the initiative's effectiveness and success.
Expected Impact
Pending parliamentary approval, the stimulus aims to strengthen employment and training programs, thereby creating a more resilient workforce for Bahrain's future. Proposed amendments to existing legislation will direct funds towards strategic initiatives led by Tamkeen, with a focus on reducing unemployment rates and stimulating private sector growth.
Addressing Unemployment Challenges
With nearly 16,856 unemployed Bahraini citizens reported in the first half of 2023, the initiative seeks to address pressing unemployment challenges. Current minimum wages vary from BD500 for degree holders to BD350 for secondary graduates, while the average private sector wage stands at BD826 for Bahrainis.
Anticipated Outcomes
Experts anticipate that the proposed stimulus will not only benefit lawmakers but also strengthen Bahrain's economic resilience and prospects for future growth. If approved, the initiative is poised to make a significant impact on Bahrain's workforce and economy.