The Saudi Ministry of Labor and Social Development is expected to unveil on Tuesday the policies concerning the “Citizen Account Program,” which was adopted earlier this year by the Kingdom to help low- and middle-income earners face additional costs caused by increasing energy rates.
The Citizen Account program is one of a score of reform initiatives launched by Saudi Arabia's financial balance program. The Citizen Account is a new step taken mechanism of directing the country's support to reduce the impact of increasing energy prices on citizens.
The new step comes after setting the goal to support reaching mitigated consumer subsidized prices, whether these consumers fall in the category of citizens, residents, companies, shops, factories, and others.
Through the launch of the Citizen Account Program, the Kingdom aims to support families, especially those with low incomes, so that Saudi families do not shoulder the burden of future economic reforms. The Citizen Account is a national program to raise the efficiency of government support for eligible citizens.
The cash-transfer initiative seeks to protect Saudi families from the direct and indirect impact of the government’s structural economic reforms through providing direct monetary allowances.
Eligible beneficiaries are Saudi families, Saudi independent individuals, beneficiaries of social security, Saudi mothers married to foreigners, and holders of transport cards.
Registration for the citizens account program is expected through an electronic portal.
Allowances will be paid to eligible families before the implementation of any economic reforms, which could otherwise negatively affect living conditions of citizens.
The rate of allowances will be announced with every economic reform while a virtual calculator will be accessible for every citizen to know the rate of allowances.
The citizens account program will be linked to the Housing Ministry’s “Ejar Program” to ensure that the subsidies given by the Saudi government reach the right beneficiaries.
The electronic portal will be the sole platform to register and contact potential beneficiaries. The guardian of a family can create an account on the e-portal--provide the required information about themselves and their dependents, together with necessary documents, if any.