Saudization: 20,000 Riyal fine for each expat working in gold sector

News Network
November 29, 2017

Jeddah, Nov 29: Gold and jewelry shops that employ foreigners will be asked to pay a fine of Saudi Riyal 20,000 (around Rs 3.5 lakh) for each expat worker after Dec 3 when 100% Saudization of the sector comes into force.

The ministry also intends to appoint permanent inspectors in every market and mall to conduct surprise inspections and punish violators of the Saudization law.

Khaled Aba Al-Khail, spokesman of the Ministry of Labor and Social Development, said field inspectors will track down violators and impose fines after the Dec. 3 deadline.

However, members of the precious metal and stone committee at the Council of Saudi Chambers have expressed their reservation over the success of Saudization in the sector.

“We need to fight tasattur or cover-up business to make Saudization successful,” said Abdul Mohsen Al-Namir, a member of the committee, referring to jewelry shops run by expats in the name of Saudis.

There are more than 6,000 gold and jewelry shops in the Kingdom that employ about 25,000 workers including expatriates. Some of them are owned by foreign investors.

“The success of Saudization depends on the success of fighting corruption. Many owners of gold and jewelry shops and showrooms are foreigners,” Al-Namir told Al-Madina Arabic newspaper.

“Many of the shops are in the name of Saudis but they are actually owned by expats. Some foreigners have entered into partnership business with Saudis,” he explained.

Al-Namir also spoke about the possibility of accommodating Saudis involved in tasattur business as investors.

He asked the ministry to study the reasons for the failure of Saudization and give shops enough time to deal with the reasons that have prevented 100 percent Saudization of the sector for the last 16 years.

“At present Saudization rate in the sector does not exceed 50 percent,” he pointed out.

Abdul Ghani Al-Muhanna, another member of the committee, expressed hope that the ministry’s full-scale Saudization will lead to saving the sector from tasattur (cover-up) business.

“The decline in the number of Saudi employees in the sector is really a matter of deep concern,” he said told Al-Madina newspaper.

He said expatriates were purposely trying to keep Saudis away from the sector to maintain their dominance.

Saudi employees in the sector are forced to work long hours affecting their social and family commitments, Al-Muhanna said.

“Many Saudis receive low salaries which has forced them to leave their jobs at gold and jewelry showrooms,” he pointed out.
 

Comments

Althaf
 - 
Wednesday, 29 Nov 2017

Acche din for saudis. 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 11,2020

Shivamogga, Jan 11: Members of Karnataka Congress women's wing staged a protest in Shivamogga on Friday against the rise in onion prices and domestic LPG (liquefied petroleum gas) cylinders.

As a mark of protest, the demonstrators wore garlands made of onions, drew rangoli on the road and cooked food with firewood. The protestors also carried posters comparing the price of cylinders in Congress and BJP-led government in the Centre.

The price of non-subsidised LPG was hiked by Rs 19 per cylinder from January 1, 2020.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 18,2020

Mangaluru, Feb 18: Customs at International Airport here have seized Rs 58.95 lakh worth gold in two incidents and arrested two smugglers, Customs Commissionerate said on Monday.

According to the department, two men have been arrested by the customs officials in two separate incidents last evening for attempting to smuggle gold into the country valuing over Rs. 58.95 Lakhs.

In the first incident, Muhammed Swalih Chappathodi, 22, hailing from Malappuram, Kerala who arrived from Dubai by Spice jet flight concealed capsules containing gold in paste form inside his rectum which upon purification resulted in the recovery of 797 gm of 24 karats valued at Rs.32,35,820.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 11,2020

Bengaluru, Mar 11: The move by rebel ruling Congress MLAs in Madhya Pradesh to trigger the crisis for the party's government in the state appears to have been in the making for at least close to a month as Karnataka BJP leaders were sounded about hosting them in Bengaluru in advance, sources said.

They also indicated that the 19 rebel MLAs would stay in the city for at least two weeks till an alternative government takes charge in Madhya Pradesh.

A senior Karnataka BJP leader, in charge of the Madhya Pradesh legislators' stay in Bengaluru, received a communication from the party's central leaders about the move nearly 15-20 days ago, the sources involved in the development said on condition of anonymity on Tuesday.

The leader had even gone to New Delhi in the third week of February to meet BJP's central leaders in this regard, they said.

In a massive setback for the Congress, its prominent youth leader Jyotiradtya Scindia quit the party and in a coordinated rebellion on Tuesday 21 MLAs loyal to him resigned in Madhya Pradesh, pushing the 15-month-old Kamal Nath government to the brink of collapse.

As many as 19 Madhya Pradesh MLAs, including six ministers, said to be loyalists of Mr Scindia who appeared set to join BJP, are camping at a resort in Bengaluru. Two of them are women, the sources said.

The MLAs on Tuesday sent their resignation letters via e-mail to Raj Bhavan in Bhopal from Bengaluru.

According to the sources, eight legislators, including an independent, have been staying in the city for about a week now. Of them two - one from Congress and the other an independent MLA - had gone back.

The six were joined by 13 legislators, who landed in the city by a chartered flight on Monday, and all of them are put up in a villa.

The senior Karnataka BJP leader, also an MLA, is looking after their stay and related arrangements on the directions of the party high command, the sources said. Their stay here may be for a couple of weeks.

"There will be a no-confidence motion, and then there will be a trust vote of the new alternative government that will be formed. So they may have to stay here for some time. They may be moved out of their current location," they said.

The Madhya Pradesh legislature session is expected to begin on March 16.

The sources also said the six legislators staying in the city since last week were shifted a couple of times within the city.

Congress in Madhya Pradesh, under the leadership of Kamal Nath, had come to power in December 2018 by ousting the BJP by a narrow margin.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.