By Khaled Al-Sulaiman
ONE of the main goals of the nation›s future vision is to lower the unemployment rate and create more job opportunities. The aim is also to generate jobs in the private sector. What people are afraid of now is that many citizens might lose their jobs in the private sector. Many companies revealed their intentions to lay off employees, especially contracting companies that have projects linked with the government.
Citizens working in all types of companies in the private sector were already worried about losing their jobs. Their worries became even greater when the government began squeezing the budget and when the signs of an economic downturn and the prospects of increasing taxation starting showing.
Even the stock market, which was a means for people to make money and supplement their income, has slowed down. The stock market is now a black hole that eats up people›s savings without an explanation. Investors wonder why the stock market does not reflect what is being said in the media about the Saudi economy that it is strong and growing. In fact, the stock market is drowning and it seems like no one cares to extend a hand to help save it.
There is an urgent need to spread the word of comfort in the private sector. We need quick steps to rehabilitate the private sector so it can stand on its feet and push the wheel of development forward and create job opportunities for citizens. What we really need is to translate words into actions.
