Bahraini MPs called yesterday for urgent economic measures to ease financial pressures on citizens and support the private sector amid the exceptional circumstances facing Bahrain and the wider region.
Leading the call, MP Hassan Ibrahim urged authorities and financial institutions to introduce a package of relief measures, including postponing loan repayments for citizens without additional interest and accelerating government payments to companies.
“The current stage requires stronger co-operation between all sectors to protect economic and social stability,” Mr Ibrahim said.
He stressed that postponing loan instalments would provide immediate relief to many Bahraini families facing financial pressure.
“I call for the postponement of loan instalments for citizens without any additional interest during this period, whether personal, housing or other types of loans,” he said. “Such a step would significantly ease financial burdens on Bahraini households.”
Mr Ibrahim also urged banks to play a greater role in supporting society during the current situation.
“The banking sector has recorded strong profits in recent years in Bahrain, and this places a national and social responsibility on it to stand with citizens during these exceptional circumstances,” he said.
“The least that can be done is to facilitate the postponement of loan instalments without imposing extra interest.”
In addition, the MP called for a temporary suspension of government service fees imposed on citizens until the situation stabilises.
“The exceptional conditions the region is experiencing require flexibility in financial policies,” Mr Ibrahim said. “Postponing government fees during this period would help reduce the financial pressure on families and contribute to maintaining social stability.”
He also stressed the importance of supporting businesses by ensuring that government dues owed to companies are paid without delay.
“Accelerating the payment of companies’ financial entitlements with government entities will enhance liquidity in the market and help businesses continue operating,” he said. “This will also support job stability in the private sector.”
Mr Ibrahim further suggested launching a comprehensive financial and economic support package for the private sector similar to the stimulus introduced during the Covid-19 pandemic.
“The economic package implemented during the pandemic proved successful in supporting the national economy and ensuring the continuity of institutions and companies,” he said. “Today we need a similar proactive approach to protect economic momentum and support both citizens and the private sector during this sensitive period.”
Meanwhile, MP Mohammed Al Olaiwi said several sectors had already been affected by the current situation and required targeted support.
“There are many groups whose livelihoods depend on daily economic activity and who have been directly impacted,” Mr Al Olaiwi said.
“These include owners of small and medium-sized businesses, driving instructors, fishermen and others whose work depends on stable economic conditions.”
He stressed that supporting these groups would help maintain economic balance and protect thousands of families who rely on such professions for their income.
Parliament’s services committee chairman MP Abdulwahid Qarata urged Speaker Ahmed Al Musallam to hold an extraordinary session on the Iranian attacks on Bahrain.
mohammed@gdnmedia.bh
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