Secretary General of NSWF: Shift from Consumption to Production is Irreversible

Dr. Ahmed Hamza Al-Amin, Secretary General of the National Students Welfare Fund (NSWF), stated that the shift towards production is no longer a temporary option but an irreversible strategic path. He emphasized the necessity of moving workers from the cycle of consumption to the cycle of production to confront current economic challenges.

In this context, the Fund has begun distributing 65 production units to its employees as part of a program aimed at economically empowering its members and improving their living conditions by providing sustainable means of production supported by training, financing, and technical supervision.

During his address at the handover ceremony for the production units, the Secretary General explained that relying solely on salaries is no longer sufficient given the rising cost of living. He pointed to the Fund’s focus on expanding into value-added production projects, particularly in the manufacturing sector. He revealed partnerships with the Savings Bank and the Giad Company to enhance the integration of finance and production, while developing financing tools by shifting from traditional guarantees to direct productive financing and microfinance.

For his part, Ali Al-Amin Banaqa, head of the Fund’s employees’ sub-committee, described the project as a starting point for a comprehensive productive program, with plans to expand to several states. He called for expediting banking procedures and expanding into the areas of solar energy, livestock production, and small industries.

The Savings Bank representative reiterated the bank’s commitment to supporting and financing productive projects, particularly in the agricultural and industrial sectors, and small projects linked to production chains.

The Fund’s management affirmed its continued focus on student issues, through improving the dormitory environment and ensuring stability, considering student welfare a top strategic priority.