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FINANCIAL NEWS
Sharjah injects USD32.6m into retired workers’ fund
08 Dec 2011
(MENAFN) Sharjah’s ruler, HH Sheikh Sultan Bin Mohammad Al Qassimi, said that following his orders, the emirate’s government injected USD32.6 million to Sharjah’s fund for retired government workers, reported Arabian Business.
Al Qassimi added that those who needed extra funds the most were retired citizens and underprivileged Emiratis, adding that northern emirates had lower economic opportunities than other emirates, mainly Abu Dhabi and Dubai.
On the other hand, UAE’s President Sheikh Khalifa bin Zayed al-Nahayan, announced a USD2.7 billion fund to help pay debts of low-income citizens’ and to increase the salaries of some state workers.
It is worth noting that the UAE also announced plans to invest USD1.6 billion over three years, in order to enhance living conditions in the north, in addition to an increase of 70 percent in military pensions.
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