Bahrain chamber lauds fee reprieve move
Manama, July 3, 2012
The decision to extend the moratorium on Labour Market Regulatory Authority (LMRA) fees until the end of the year was yesterday praised by Bahrain Chamber of Commerce and Industry (BCCI) chairman Dr Essam Fakhro.
He said the decision was sound, timely and to the point.
Dr Essam Fakhro was speaking after the BCCI yesterday held a meeting with small and medium enterprises led by SMEs committee chairman Khalaf Hujair.
His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa extended the moratorium on the foreign workers tax as he chaired the weekly Cabinet meeting.
'The grace period is timely as it would benefit the trade sectors, particularly SMEs which suffered massive losses due to stagnant commercial activities,' said Dr Fakhro.
He paid tribute to HRH the Premier for his stance in support of the private sector to withstand the challenges resulting from domestic and global economic developments.
Speaking on behalf of the business community, he backed the commissioning of a study into the viability of the fees levied by the LMRA.
The ministerial committee for financial and economic affairs will co-ordinate the survey in co-operation with the Industry and Commerce Ministry.
The BCCI will be engaged in the efforts to reconsider the philosophy underlying the LMRA fee-levying scheme and identify alternative options.
Dr Fakhro pledged to submit an exhaustive study, taking into account national economic interests and training schemes for Bahraini job seekers.
The BCCI SMEs committee yesterday met business people to discuss a number of their concerns.
Small enterprises wanted to get Tamkeen to help businesses with more support and to freeze the municipal fees on business.
They are also demanding the BD30 licence fees every year paid to the Industry and Commerce Ministry be temporarily waived and that fines for unpaid insurance should not be made because of delays.
Small businesses also want the government to ask banks to give loans to businessmen on easy terms so that the money could be invested in their businesses and asked for a reduction in electricity and water bills to firms.-TradeArabia News Service