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Kuwait third globally in citizens’ purchasing power Private sector’s pay raise contributes to job security

KUWAIT CITY, July 6, (Agencies): The International Bank’s statistical report for July showed Kuwait is third internationally in terms of citizens’ purchasing power as per the current value of the dollar, reports Al-Qabas daily. According to the report, the purchasing power of citizens in Kuwait reached $88.170 annually. Qatar is in the first place with $123.860 followed by Macau, China with $112.180. Meanwhile, the UAE is third among the GCC countries with $58.090 and it landed on the eighth place internationally. The Kingdom of Saudi Arabia is in the 12th place internationally with $53.780, followed by Oman in the 13th place with $52.170 and Bahrain in the 26th place with $36.140

Meanwhile a study by Manpower and Government Restructuring Program (MGRP) over pay raise of Kuwaitis working in private sector, and adopted by government in 2012, has contributed to job security among national workforce, a MGRP official said Saturday. Secretary General Fawzi Al- Majdali, in a statement, said the study aimed at getting acquainted with views of the national workforce over how much pay raise could contribute to attracting citizens to work in private sector.

The study also aimed at knowing how much pay raise could stop Kuwaitis from leaving private sector to lucrative government jobs. Al-Majdali said the study showed that more than half of Kuwaitis in private sector believed wages in public sector were more lucrative than private sector. Almost half of Kuwaitis in private sector think increase of pay in their sector narrowed gap with their peers in the public sector, the study showed.

The study however said that around 45.6 percent of national workforce in the private sector would move to the public sector because it was offering more training courses, despite the pay raise they received. Al-Majdali said 85.1 percent of workforce believed that legislations obliging employers to maintain minimum wage would contribute to job security thus improving efficiency.

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