His Majesty Sultan Haitham bin Tarik issued directives for establishing a job security fund with a personal contribution of RO 10 million. It was a major development with far-reaching positive implications for the country. His idea is to overcome the situation of joblessness in the country, and open wider horizons for work in the private sector in the near future.
This is expected to give better job guarantees and social security to workers in various companies. This Royal directive has come as a sigh of relief for the people of the country and has generated a sense of confidence and security among them with regard to the issue of their employment.
However, contributions from businessmen and entrepreneurs for this noble cause is still awaited. We are yet to see them coming up to support this fund in the expression of their loyalty with the country and display of their commitment to society.
The Royal directive which has come to establish a Job Security Fund has huge importance, particularly, because it was decided at the time when there is international economic crisis affecting various economic sectors of the country and the entire region. This is also reflected on the employment sector. The setting up of the fund will help in reducing the concerns and apprehensions in the minds of those who are working in various companies or have been laid off after their projects were completed.
The setting up of the fund clearly indicates that serious efforts are being made to remove difficulties faced by the private sector.
This is important to create an environment suitable for Omani youth and which they should feel comfortable and encouraged to opt for. This step is a kind and generous gesture from His Majesty the Sultan for the workers in the private sector.
The fund actually addresses the requirements of the people and their day-to-day needs. Their daily needs are being dealt with in a more pragmatic way which takes social and human dimensions in consideration. His Majesty the Sultan wants to develop an environment for the people of the country to excel in their areas of work and become innovative. He believes that this would improve their productivity and make them more fruitful for the national economy.
People of the country have seen a situation when they were laid off after their companies completed their projects, particularly those in the oil and gas sectors. This decision to set up job security fund has come in this background. This will pave way for people to look forward and move ahead with more confidence without being concerned about their marital and family situation.
This step would bring job stability in the private sector as it gives
insurance coverage in case of unemployment or lay off.
After setting up of the job security fund and generous contribution by His Majesty, the ball is now in the court of the businessmen. We have to see how they are going to contribute and deal with it, directly or indirectly. A display of national level concern is required as part of social responsibility. People firmly believe that the nation has never ignored their concerns and apprehensions.
There is also no doubt that the fund will get rid of lethargy, slackness and disinterest in work. There are clear mechanisms and systems to determine who deserves to get the benefits of the fund. However, this need to be explained to the people.
We hope that the fund would prove to be good for the country. The people would come forward to contribute for this fund generously. The authorities concerned are also expected to swiftly make modalities and decide other details.
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