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FINANCIAL NEWS
Saudi warns firms to abide by the Nitaqat program
12 Sep 2011
(MENAFN) Saudi labor minister, Adel Faqih, said that the country would give a three month deadline to private firms that failed to implement the Nitaqat (ranges) program which aimed at hiring Saudi nationals, reported Emirates 24/7.
Faqih added that the government would prevent these companies from hiring expatriates or it would order them to stop their expansion plans, on the other hand, the government would reward those who abide by the Nitaqat program and hire nationals by offering visa facilities for expatriate workers and facilitate their movements to those firms.
He also said that companies which would try to maneuver or get around the rules by offering nationals low-paid jobs in an attempt to discourage them from accepting work would be subjected to penalties.
It is worth noting that the Kingdom launched the Nitaqat program in June in order to create job opportunities to Saudi nationals and deal with the growing jobless rate that reached 10.5 percent at the end of last year.
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