Singapore to limit foreign workers inflow
Singapore: Singapore will further control
the inflow of foreign workers the manufacturing and service
sectors; city state`s Deputy Prime Minister said on Friday, a move
which may affect Indian workers also.
Singapore will control the inflow of foreign workers,
Tharman Shanmugaratnam, who is also Minister for Finance, said
in a budget speech in Parliament.
He said the limit on foreign workers would be lowered in
the manufacturing and service sectors through a calibrated
reduction in the Dependency Ratio Ceilings (DRCs), which
specify the maximum proportion of foreign workers a company
In Singapore, the banking-finance and IT sectors welcome
Indians with open arms.
From July 2012, the DRC for manufacturing companies would
be lowered to 60 per cent from 65 per cent and service
industry would be 45 per cent from 50 per cent.
Special pass or `S Pass` Sub-DRC would also be reduced to
20 per cent from 25 per cent across all sectors, he said,
pointing out that the slower economic growth would allow
companies to make such adjustments.
But Tharman assured that existing foreign workers would
not be affected by the new change though the manufacturing and
services would not be allowed to bring in new foreign workers.
Foreign workers in the construction sector would also be
affected, he said.
The change being made in foreign workers employment was
part of Singapore`s move to restructure the economy to grow
income steadily among locals.
The change would also aim to build an inclusive society
by generating resources to help all Singaporeans get a fair
share of the economic pie and would provide for Singapore`s
economy to grow on the basis of skills, innovation and
Tharman said more help would given to support the lower
and middle income Singaporeans though education, work, housing
and healthcare. The change in foreign workers employment comes
in response to rising concern among Singaporeans about losing
jobs to foreigners.
However, leaders of the ruling Peoples` Action Party have
conceded that Singapore would have to depend on migrants
workers, especially professionals, to help keep up with
Singapore economic growth while local population growth has
been virtually stagnant.
More from India
More from World
More from Sports
More from Entertaiment
- Sheena murder: Trio to be taken to Raigad to re-construct crime scene
- Mikhail emailed sister Sheena Bora's resignation letter: Report
- Raksha Bandhan: Sushma Swaraj ties Rakhi to Venkaiah Naidu
- Shiv Sena announces award of 2 lakh for Hindu families with 5 kids
- Watch: Wife catches husband with his girlfriend at Goa Airport
- Women's hockey team seals Olympic spot after 36 years, creates history on Dhyan Chand's birthday
- Sushma Swaraj ties rakhi to M Venkaiah Naidu
- Know box-office report of Saif-Katrina's 'Phantom'
- Indrani Mukerjea's son Mikhail emailed Sheena Bora's resignation letter
- Ten interesting facts about hockey legend Dhyan Chand