His Majesty Sultan Haitham bin Tarik, issued Royal Decree No 82/2020 approving the Job Security Fund, the long-awaited system to support the laid off and those who lose their jobs for different reasons.
According to the Government Communication Center, the job security system will be implemented through two phases. The first phase will start in November 2020, in which the benefits will be granted to Omanis whose services have been terminated. The second phase will start after three years of establishing the Fund, where a subvention will be paid to the job seekers.
The system is supervised by the Public Authority for Social Insurance, the Ministry of Manpower, and the National Employment Center.
It provides effective solutions for Omanis whose services are terminated by providing them with social protection. The system is financed by workers in both government and the private sectors as every employee contributes one riyal out of every 100 riyals of his monthly salary.
The GCC indicated to the generous initiative of His Majesty the Sultan to finance the job security system with an amount of 10 million Omani riyals as the first supporters and contributors, implying the principle of social solidarity.
The authorities supervising the system, perform an integrative work, whereby the National Employment Centre will find job alternatives for the laid off, while the system will disburse financial aids to them during the period in which they are unemployed until they join the new work, provided that the period does not exceed six months and at an exchange rate of 60 per cent of the monthly salary that the person used to receive.