Most To Ask For Pay Hike In Commodities Price Rise
Category: Kuwait

Peolpe shared the course of action they would take when confronted by a rise in commodity prices. The majority of respondents shared that they would ask for a pay increase to cope with mounting expenses, followed by changes in lifestyle and spending habits.

The magnitude of the oil price decline and its financial strains have prompted several fiscal measure from the government and consumers are bracing themselves for the impact of ongoing fuel subsidy reforms and the rise in cost of commodities and public services. 41 percent of respondents shared that the rising cost of living and commodities in Kuwait would urge them to demand an increase in their salaries while another 5 percent would try and look out for parttime job. “If we are to pay a high cost for accommodation, transport, goods and services, I think it is logical that we should be earning higher wages to be able to do so”, a reader told the Arab Times.

Another young professional stated, “My wages have been stagnant since I joined the company five years ago. I have asked for a raise previously and it was denied because the market is bad. So I think I’ll have to start looking out for part-time opportunities to supplement my income.” The rising cost of commodities have been a cause of stress for families with low or single incomes. With their budgets constrained, many expect their current standard of living to be adversely affected. “I think all these price hikes that we have been seeing in Kuwait of late will have a significant impact on the lifestyle of expatriate families. Parents will come under strain for being unable to provide the best quality of life for their children. There will be a cutbacks in small and big ways”, a voter commented.

Another reader noted, “I think people in Kuwait will start spending less as a result of the increasing costs and I don’t think this will be beneficial to the economy.” As the ability to save money is a major factor when expatriates decide to move and work in Kuwait, 22 percent of voters shared that they would consider going back to their home country if the cost of living got too high. “It doesn’t make financial sense to me to continue to live in Kuwait and spend most of my income here. The rising costs of rent, food, petrol and utilities, school fees, etc have greatly diminished my ability to save money and I don’t see any reason in continuing to live here under these conditions”, a voter shared.

“For the past few months, my family had some unexpected expenses and we found it very hard to cope. We have largely leaned on our credit cards during this period and if the situation gets too dire, we may have to seriously consider moving out of Kuwait”, another reader stated. Only 3 percent of voters shared that they would cut down on remittances. “I have a lot of people in my family depending on the money I send back home so I cannot cut back on that. I have to sacrifice somehow and make ends meet here because scaling back on remittances is not an option”, a poll respondent shared.



25 Aug, 2016 0 1405
Posted Comments
Kuwait Local News
Kuwait Local News
Crime News New Rules Entertainment