Riyadh – Mubasher: Saudi Arabia’s King Salman has approved a plan to reimburse companies who could not afford the increased fees of expatriates work permits during the last two years.
Under the new plan, the Saudi government will spend SAR 11.5 billion ($3.1 billion) on reimbursements, according to Reuters.
The increase in the expat fees was aimed at boosting Saudisation in the kingdom’s private sector.
“This initiative will support private sector companies, help them overcome the obstacles and achieve their goals and encourage them to expand employment of Saudi citizens,” Saudi labour minister Ahmed bin Suleiman al-Rajhi said on Twitter.
The reimbursement will be limited to companies that 50% or more of their workforce are Saudis. Companies that fell short of this criterion would not be eligible until they meet the mentioned quota.