.jpg?20260323')
NEW plans are being drawn up to drastically reduce the government’s operational costs.
In a written reply to the Shura Council, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said that ministries and government bodies are in the process of identifying services that could be re-engineered, automated, offered in partnership with the private sector, or cancelled.
“The government has launched several initiatives to achieve fiscal balancing by 2024 which is based mainly on reducing operational expenditure,” he said.
“Detailed plans and expected savings will be made available when the new 2023-2024 national budget is assembled and approved.”
Meanwhile, the weekly Cabinet session yesterday, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Deputy King and Crown Prince, registered 1,294 government services.
Services which have received the highest number of complaints on Tawasul would be re-engineered, while unifying all information forms.
The Cabinet also approved developing the government portal bahrain.bh to include all details related to services.
“However, as we work on plans, things are subject to change due to any unexpected circumstances, and the National Assembly will be consulted,” said Shaikh Salman.
“We have already asked all ministries and government bodies to identify services that could be either cancelled, re-engineered, automated or offered in partnership with the private sector.
“This will reduce the number of needed offices, office space and customer service centres, besides administrative responsibilities in directorates and departments.”
Shaikh Salman said ministries and government bodies have also been instructed to reorganise spending.
“Spending should be lowered wherever and whenever possible and we have instructed for an immediate reorganisation.
“This involves negotiating with providers and carriers of existing services to lower contractual agreements in line with gradual reductions to what is being offered.”
The minister’s response will be discussed during the Shura Council’s weekly session on Sunday.
In response to another question, Shaikh Salman said that digital currency comes under the responsibility of the Central Bank of Bahrain and not any private financial institution.
“Digital currency is the equivalent of actual money and has the same legal purchasing power,” he said.
“We are in the first phase of launching the digital currency as we are still working on the legal and technical aspects for a strong foundation. International experiences are being considered in partnership with organisations such as The World Bank, World Economic Forum and Bank for International Settlements.
“A mock experimental environment will be set up and the findings will be used to work on an actual plan to shift to the digital dinar.”
Meanwhile, Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa said a 10-year roadmap has been drawn up to start commercial extraction of at least 80 billion barrels of tight (or shale) oil from the newly-discovered large oilfield off Bahrain’s western coast.
Responding to a question in writing, he said drilling work in the Khaleej Al Bahrain basin, that spans 2,000sqkm in shallow waters off the coast, is expected to start at the end of next year.
In April 2018, Bahrain announced the largest discovery of oil since 1932, when extraction started on the kingdom’s first oil well within the Bahrain Oil Field.
“The pandemic has affected the progress of work, but it has not paralysed us,” said the minister.”
The GDN previously reported that the massive discovery also includes deposits that would have an estimated 10 to 20 trillion cubic feet of deep natural gas.
Tatweer Petroleum has partnered with Italian firm Eni Bahrain to seek out deposits in an area known as “offshore block one”, which measures 2,800sqkm.
mohammed@gdn.com.bh
&uuid=(email))