Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Transporters plead inability to pay fees  Join our daily free Newsletter

MENAFN - Arab News - 25/12/2012

No. of Ratings : 0
Add to Mixx!


 


Saudis find a trucker
(MENAFN - Arab News) The land transport sector will face a full paralysis due to the Ministry of Labor's decision to increase expat fees from SR 100 to SR 2,500 annually, concluded the national committee for land transport at the Council of Saudi Chambers.

Investors in the transport sector would not be able to meet the ministry's increased fees.

During a recent meeting, the committee concluded that the ministry's decision would also damage development and infrastructure projects in the Kingdom as the transport sector is one of the main pillars of those projects. The committee estimated the sector's losses at more than SR 3 billion annually.

The committee said the sector felt it was being forced to leave the Saudi transport market, which is the largest in the region. Investors in the sector said they were willing to employ Saudis as vehicle drivers at a reasonable salary.

The special nature of the sector, said the committee, made many Saudis unwilling to work for it. This puts investors in a predicament when trying to comply with the ministry's demands.

The committee added that many development and infrastructure projects would stop. Empty trucks and tankers that came fully loaded from Saudi Aramco would not be allowed to return to the Kingdom without a valid residency permit for the drivers.

Investors would not be able to pay the costs to renew their residency permits, which would lead to an increase in costs of operating at a rate that would be hard to meet in comparison to the revenue from those sectors.

In turn, this would lead to a shortage in supply for power plants and gas stations, and therefore, damaging all sectors of society, said the committee.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help