BAHRAIN has so far spent BD4.5 billion under the economic stimulus package introduced in March last year to offset the impact of Covid-19.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa told the Shura Council that the government was ready to respond to any medical, financial and economic emergencies with the necessary support.
The original BD4.3bn package from April to June last year was aimed at achieving economic stability and financial sustainability, but more money was needed, stressed the minister in response to a question by Shura human rights committee vice-chairman Darwish Al Mannai.
Mr Al Mannai
“Our commitment through the original package has provided support to 90,000 Bahraini employees, 380,000 electricity and water accounts and 81,000 commercial registrations (CRs), amongst other initiatives, at a cost of BD4.3bn,” said the minister, in writing.
“We didn’t stop there; further support was necessary and to date the amount has increased to BD4.5bn,” he added.
“There is no plan to stop here. We aim to respond to any medical, financial and economic development and provide the necessary support.
“We will continue to implement plans and programmes that will enable us to bring financial and economic stability.”
He added that the government was under no financial obligation to return back the amounts it has taken from funds.
“The launch and financing of support initiatives has come through existing legislations authorised by the National Assembly and the government will not pay anything in future to make up for anything spent or given,” said Shaikh Salman.
“Most of the money spent has come from outside the national budget, while paying utility bills and industrial plots’ rent exemptions have come from the budget.”
The government paid wages of Bahraini employees in the private sector through the Unemployment Fund, from April until December last year.
It has also waived municipal, tourism and labour fees during the same period.
All rents on government property have also been dropped for the three months.
Grants for affected businesses have been distributed through Tamkeen, while others were given low-interest loans under the Liquidity Fund, which has been doubled from BD100 million to BD200m.
Bank loan instalments for Bahrainis have also been deferred without any interest charges for six months, while the option continues with adequate charges determined by the Central Bank of Bahrain until June.
Shura members will be notified about the response during Sunday’s weekly session.
mohammed@gdn.com.bh
&uuid=(email))