SHARJAH: Covid times may have literally increased the heartbeats of expats who have taken house and vehicle loans from banks , relying on their jobs abroad.
As the Coronavirus still prevails in different parts of the world, lakhs of Malayalis aborad are also either facing the risk of losing job or steep salary cuts.
The undeniable fact is that the pandemic has dealt a serious blow to the economy of Arabian countries.
Already, lakhs of expats have been laid off in many foreign companies. Many countries have given permission to private companies to effect a 40 per cent salary cut, as well.
Meanwhile Saudi Human Resources ministry has decided to cut down salaries for six months but this may extend to longer period.
Other countries are also passing through similar situations.As a result, Malayalis will be forced to repatriate en masse, creating socio-economic instability in Kerala.
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