Business Health

Economic Ministry Requests to Report If Businesses Layoff or Deduct Salary Due to COVID-19

While the government is working on aiding the businesses to combat the COVID-19 impact, the Economic Ministry has requested to report if businesses layoff or deduct salary of employees.

According to the announcement by the Ministry, the government is working to withstand the economic crisis by introducing cash-flow financing schemes and various other services to support the local businesses.

So if any business decides to terminate or reduce the salary of its staff, the Ministry has requested to report it through the job portal:

The Ministry will require written proof from the company stating the downfall of the business with regard to the pandemic.

The government has previously announced the decision to extend the loan repayment period to 6 months to help business in the economic downfall caused by the spread of COVID-19 pandemic.

The government has also introduced an economic recovery package of MVR 2.5 billion.

Full details are available at the link below:

Source URL: Corporate Maldives

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