More help for firms

MANAMA: Land-leasing industrial companies were yesterday extended a reprieve as part of a stimulus package to revitalise the economy and mitigate the impact of Covid-19 pandemic.

The government has exempted them from paying rent for three months, starting this month.

The measure will benefit land-leasing firms operating at industrial zones run by the Industry, Commerce and Tourism Ministry.

Only firms that export at least 30 per cent of their industrial output will be eligible to benefit from the government stimulus package.

The lifeline was announced during the weekly Cabinet meeting, chaired remotely by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, yesterday.

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, attended the virtual session.

Companies operating in the hardest-hit sectors have also been exempted from paying Commercial Registers (CR) renewal fees and taxes levied on the first three business activities featuring in the CR for 2020.

Tourism facilities and establishments, which are among the hardest-hit businesses, have been exempted from paying the third quarterly fees for this year.

  • A national task force is to be set up in Bahrain to combat terrorism and extremism, dry up terror finance and clamp down on money laundering. A draft decree setting up the task force was endorsed at the session.

The Executive Committee, chaired by the Crown Prince, recommended the establishment of the task force.

It will also propose and review policies, co-ordinate and harness national efforts, and suggest the blacklisting and inclusion of individuals and entities on the national terror lists.

  • Good wishes of health and wellness were extended to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud who was admitted to hospital due to inflammation of the gall bladder.

The Amir of Kuwait, Shaikh Sabah Al Ahmed Al Jaber Al Sabah, was also congratulated on his successful surgery.

  • The Premier gave instructions to upgrade services and facilities at central markets countrywide – including Sitra Central Market and Sitra Mall. He also directed officials to step up inspections of goods and foodstuff at different selling points to ensure their quality and safety.
  • The session has also approved a parliamentary proposal to extend the timespan during which trucks and heavy vehicles are banned at rush hours.

 

Source:http://www.gdnonline.com/Details/838190/More-help-for-firms

 

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