Bahrain has agreed to postpone the implementation of Commercial Registration (CR) fee hike by another six months following discussions with the Bahrain Chamber of Commerce and Industry (BCCI) in this regard, said a report.

In its appeal, BCCI said that the fee hike postponement would enable it to study the situation of small merchants and also create awareness among them on the importance of merging commercial activities and its expected benefits, reported BNA.

The Ministry of Industry, Commerce and Tourism was set to implement the Ministerial Edict 130/2016 starting  from September, but now with this postponement, it will take effect from March next year.

The move comes upon directives from HRH Prime Minister Prince Khalifa bin Salman Al Khalifa to hold meetings with BCCI to reach an agreement on CR fees, and those of HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Premier, to ensure that any steps to be taken should support the government’s plans to achieve economic growth, and contribute to generating job opportunities for Bahrainis, stated the report.

Following the endorsement of the proposal, the Ministry of Industry, Commerce and Tourism and BCCI extended deepest appreciation to HRH the Prime Minister and HRH the Crown Prince for their constant keenness on supporting the commercial sector, as well as small and medium-sized enterprises in order to push economic growth forward and safeguard the sector.

As per the terms of the agreement, the Ministry and BCCI called on owners of enterprises and companies to review their business activities and remove ineffective ones to reduce commitments associated with the Commercial Register, said the BNA report.

The Ministry said that it is fully prepared to provide the necessary advice to merge activities for CR holders, it addded.