11:06 - 2022-12-02
Today, Friday, the Ministry of Labor and Social Affairs announced proposals to amend the law to support small projects and increase the loan ceiling, while stressing that government departments can no longer absorb the numbers of the unemployed.
The Director General of the Department of Retirement and Social Security in the Ministry, Raed Jabbar Bahidh, said, "The Lending Fund in the Ministry of Labor and Social Affairs was established in 2012, with a capital of 266 billion dinars," noting that "the fund has not been strengthened with additional funds since 2012, and is currently approved." Only on refunds to previous borrowers and gives loans to new people."
Bahedh added, "The proposal that was added by the Council of Ministers in the Small Projects Support Law was previously 20 million, and it does not achieve a real project," pointing out that "the Council of Ministers decided to increase the loan ceiling to 100 million, on the condition that 10 people work in the project to reduce interest rates." The unemployment".
He pointed out that "the department currently relies only on refunds from borrowers, as sums are collected every 7 months to launch a new batch of loans," explaining that "among the proposals is to increase the loan ceiling and amend the previous law to enhance the fund's capital in the ministry to increase the amount and establish projects." A real small for the unemployed youth.
He continued, "Government departments can no longer absorb the numbers of the unemployed," noting that "the education sector graduates annually about 800,000 people, all of whom are looking for work," pointing out that "the labor market in the private sector is larger and wider to absorb the numbers of the unemployed."
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