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Saudi King Salman orders new allowances to offset rising cost of living

Saudi King Salman issued a royal decree, on Friday, approving annual gratuity for Saudi civil and military personnel. (AFP)

Saudi King Salman issued a royal decree, on Friday, approving annual gratuity for Saudi civil and military personnel.

Based on suggestions by Crown Prince Mohammed Bin Salman, the decree was approved following necessary measures taken to restructure the economy and lift the increasing burdens of living off some segments of the population, reported the Saudi Press Agency.

The annual grant for citizens of civil and military personnel for this financial year shall be paid starting 1/1/2018.

The stated grants include payment of a monthly living allowance of SR 1000 ($267) for civil and military employees for one year.

A reward of SR 5,000 ($1 = 3.7501 riyals) for military personnel participating in the front lines of military operations in the southern borders of the Kingdom.

In addition to pensions paid by the General Organization for Social Insurance for beneficiaries, 500 riyals will be granted for one year.

For social security beneficiaries, an additional SR 500 will be given for one year, provided that this allowance is not combined with that included in item IV.

A 10 percent increase in grants will be given to Saudi students for the duration of one year.

The State shall bear the VAT for citizens benefiting from private health services and private education.

The State shall bear the value added tax of no more than 850,000 riyals from the purchase price of the first house bought by citizens.

The standardized time for the payment of salaries for all employees will be on the twenty-seventh day of each month according to the Gregorian calendar, and the dates of service bills to be issued during the week following the payment of salaries.

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Last Update: Saturday, 6 January 2018 KSA 07:43 - GMT 04:43
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