Passing phase

The public sector has a huge role to play in these difficult times and they are being looked forward to shoulder more burden than that in earlier times, according to Minister of Industry, Commerce & Tourism Zayed bin Rashid Al Zayani. 

The public sector had its share of good times and now it is time to streamline operations and cut costs.

The minister said that hopefully, the Kingdom would not face a situation like Greece and the difficult times would pass.  It was not surprising that the Kingdom cut many subsidies, considering that many of its affluent neighbours had taken a lead in cutting subsidies. The minister said that introduction of taxes, including VAT, were not being discussed at the moment and there were no plans for introducing taxes at least for the next few years, but didn’t completely rule out such measure in years down the lane.

The minister, along with top officials, was addressing journalists to discuss the ministry’s 2015 achievements.

“Before taxation, measures like removal of subsidies are introduced and streamlining of government fees will be exhausted. Even if taxation is introduced, it will be done on a GCC level,” he added.

Regarding tourism, the minister said that the government encouraged tourism industry but was focused on ensuring clean practices and discourages all shoddy methods of business promotion.

He lauded various directorates and departments under the ministry including the Domestic Trade, Foreign Trade, Consumer Protection, Standardization & Metrology, Industrial Property, Precious Metals & Gem Testing, E-Commerce, Industrial Areas, Industrial Projects, Industrial Development, Small & Craft Industries, Pr & Media, Tourism, and Bahrain International Exhibition & Convention Centre.