Aramco joins Saudi Arabian companies boosting pay after royal orders
Saudi Arabian Oil Co. and some of the Kingdom’s biggest companies said they will pay Saudi Arabian staff more money, matching a royal order that extended handouts to government workers to ease public discontent over rising prices. Aramco will pay “eligible employees” an extra SAR1,000 (USD267) a month for one year beginning in January, it said in response to questions from Bloomberg. The payments will be for workers inside the Kingdom who make SAR20,000 a month or less, according to two people familiar with the decision. People who belong to the apprenticeship and college degree programme will get an extra 10% of their monthly stipend over the same period, the company said. Aramco joins some of the Kingdom’s largest companies in the decision to temporarily boost wages after King Salman decided to pay Saudi Arabian civil servants an extra SAR1,000 a month to ease the burden of austerity. Saudi Basic Industries Co., Al Rajhi Bank and National Commercial Bank announced similar measures, according to Saudi-owned Al-Arabiya television. Samba Financial Group, Saudi Research and Marketing Group, Saudi Electricity Co. and the local stock exchange are amongst other companies giving allowances to employees.
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