RIYADH, 13 August — About 20 percent of employees working for the Council of Saudi Chambers of Commerce & Industry and Saudi Exports Promotion Center may lose their jobs in the wake of a 25 percent cut in the council’s budget from SR20.37 million to SR15.6 million, informed sources told Arab News.
The possible retrenchment is likely to affect the performance of the two organizations. Last year, the council had spent SR10.6 million from its budget of SR19.55 million on salaries. The council’s secretariat had made desperate efforts to get a budget of SR19.26 million sanctioned by the executive committee.
The present budget of SR15.6 million will make the task of the new secretary-general difficult. Saudi chambers contribute SR13.17 million to the council’s budget. The remaining SR2.95 million comes from its revenues. The chambers in Jeddah, Taif and the Eastern Province did not pay their contributions citing financial problems..
Meanwhile in Riyadh, Hussein Al-Athel, secretary-general of Riyadh Chamber of Commerce and Industry, said the Saudi government was keen to boost commercial and industrial relations with Ethiopia. He said this while addressing a meeting of Saudi and Ethiopian businessmen here yesterday. Ethiopian Minister of Trade and Industry Girma Birru who attended the meeting said his current visit to the Kingdom would pave the way for joint projects by Saudi and Ethiopian private sectors. Trade exchanges between the Kingdom and Ethiopia amounted to SR206 million in 2000,with Saudi exports accounting for SR54 million. — Omar Al-Zobaidy
