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Manama: A Bahraini MP has called for pumping the BD33 million subsidy budget into the national company that the government has agreed to set up to import essential food stuff and ensure the existence of strategic long-term stocks.
"Such a move will maximise the benefits of the subsidy budget and will help people with limited income to lead decent lives despite the spiralling living costs," Adel Al Assoomi, representing the Future Bloc in the lower house, said in a press statement.
"We at the Future Bloc have repeatedly called for positively concrete measures to help the citizens and we believe that financially enabling the planned import company is a great move," he said.
The government said the company would be a joint venture between Bahrain Mumtalakt Holding, the investment arm of the Kingdom, and the private sector, but will not clash with the free economy values practiced in the country, the government said following its weekly session.
The decision to form the company is part of a series of measures announced by the government to dampen spiralling food prices and to ease the threat of food shortage among complaints in the newspapers by citizens about high living costs.
Measures
Mumtalakt will also boost the government's capital in the General Trading and Food processing Company (TRAFCO), a firm that specialises in import and distribution of fresh, frozen and canned fruits, vegetables and meat products, pre-packaged foods and water-bottling.
Other measures include new appropriate technical procedures to ensure the smooth flow of goods to the local markets and a review of the fees on the handling of goods, a company will be set up to provide construction material for government projects and work on a port specialising in importing and storing large stocks of sand and construction materials will be accelerated, the government said.
It also instructed competent authorities to draw up plans to open up new markets for Bahrain to enable it to meet its needs in food stuff and construction material.
The government said that it would confront any attempt to monopolise construction materials and said that it would work together with other Gulf Cooperation Council for common purchases as a way to reduce costs.
"The government has also allowed the construction of factories that could help meet the demands of the country in construction materials as long as they complied with the environment and health regulations," a government spokesman said.
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