Economic Minister Fayyaz Ismail has said that an allowance of MVR 5000 will be paid to those who have lost employment due to the COVID-19 pandemic.
Speaking at a Parliament Committee on National Security & Foreign Relations, Minister Fayyaz said under the relief package that has been introduced to help mitigate the losses caused by the pandemic, MVR 5000 will be paid to those who have lost their jobs during this pandemic.
“We have decided to pay [those who have been terminated from employment] MVR 5000 per month for April, May and June, said Minister Fayyaz
.
The Minister further said after three months, the situation will be reviewed based on the economic condition. If the economic condition has not improved by then, a decision will be made on the extension of the allowance payment.
Thus far, 1300 have registered with the ministry’s jobcentre portal, including those who have been terminated, those who are on no-pay leaves and those who have had salary deductions.
Minister Fayyaz said the verification process of those who have registered in the jobcentre is ongoing. He said even though there are some challenges in verifying the information, he is confident it will be done in due time.
The government introduced an economic package of MVR 2.5 million as a measure to address the economic challenges faced by the country due to COVID-19 pandemic.
Under the package, the national bank will provide a loan facility to enhance the working capital of the businesses. The loan has to be paid back within three years with a 6% interest after a 6-month grace period.
Economic Minister Fayyaz Ismail
