Sunday, June 24, 2007

1% here, 1% there, it's now LAW. What Now?

By now it has become common knowledge that the government unilaterally has decided to pool 1% of monthly income from the private sector, basically from our hard earned salaries, to be used as a slush fund for the unemployed.

The drone MPs, in effect, have put their A.O.K. on it as well and businesses have officially been instructed to started to leach funds out of salaries, before employee pay cheques are handed over.

Oh yah, i forgot to mention that our GOSI contribution, which most bahrainis will not see a cent of during their life time, has been increased from 5% to 6%. The 1% extra will be deducted back valued from May.

So in effect, i will get 8% less this month to the usual 5% GOSI contribution deducted each month; the additional 3% being, 1% for the unemployment slush fund, the other 2% being the increase in the GOSI contribution for MAY & JUNE, and 7% from next month onwards.

If salaries in Bahrain were adjusted for the inflation rate and the yearly increment, if any, was significant, this would not have a big impact on our day to day lives. Unfortunately here in la la land it WILL HAVE A HUGE IMPACT.

MPs and Ministers are eXcluded, WHY?

They get the big bucks, then why in the world would one not expect them to cough up their contribution? They too must pay their dues to Society, Don't you think?

The fact is all the MPs would have immediately voted against the scheme had they been included as well.

All employees of the 'Ministry of Interior' are excluded as well; namely the Armed forces, Public Police & Riot Police; WHY?

If you want to look at it from a religious point of view, it is haram, this is not ZAKAT.

If you look at it from a legal point of view, IT SHOULD BE ILLEGAL, we are being forced to pay, I NEVER AGREED TO IT.

Questions: Why don't they make it a voluntary contribution?
Answer: Simply because no one would voluntarily contribute.

So what is left out of our meagrely salary?


What guarantees is there that the slush fund will not be used for alternative means, similar to what was and is happening in some ministries?

Mark my words, AT SOME POINT IN TIME, the Government will implement TAXATION, and we will have to pay it, no question's asked.

Now excuse me as i have to trim down my monthly spending & recalculate my saving, what ever is left to save.