Parliamentary Committee Passes “Unemployment” Amendments: 230 Million from Unemployment Fund Surplus to Finance Voluntary Retirement
2019-03-18 - 6:50 p
Bahrain Mirror: The Services Committee in the House of Representatives approved on Sunday (March 17, 2019) amendments to unemployment insurance law, which allows the government to finance the voluntary retirement program from the "unemployment" fund.
According to the local Al-Ayam newspaper, sources said that Finance Minister Salman bin Khalifa Al Khalifa told the MPs during the meeting that- if the amendments are approved- 230 million BD will be withdrawn from unemployment fund to finance the voluntary retirement program.
The committee passed the bill by majority, while only two deputies, Mamdouh Saleh and Ibrahim Al-Nafaie, rejected it. The amendments will be put to a vote at the next Tuesday session.
It is to note that the amendments to the Unemployment Insurance Act include an increase in the unemployment subsidy to 150 BD for non-university students; and 200 dinars for university students. It also includes an increase in the subsidy period to 9 months instead of 6 months.
The amendments also include raising the limit of unemployment benefit for dismissed to 1,000 BD instead of 500.
The Government referred the unemployment act amendments last week in a bill as a matter of urgency.