NEW FUEL PRICES
Manama: Bahrain yesterday announced new fuel prices under an “austerity” plan to cut spending amid falling oil revenues.
The price of premium Mumtaz petrol (95 Octane) from today will be 160 fils per litre while price of Jayyid (91 Octane) will be 125 fils, following recommendations by the National Oil and Gas Authority of a 60 per cent increase.
The readjusted prices were announced as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired the weekly Cabinet meeting.
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, attended.
Energy Minister Dr. Abdulhussain Mirza was instructed to undertake the necessary measures for the new fuel prices to take effect today.
“The readjusted prices follow in the steps of other GCC countries which unveiled contingency plans to tighten the belt and slash expenditure to limit financial damages, said Cabinet secretary-general Dr. Yasser Al Nasser.
The session discussed ways of boosting revenues through the planned $32 billion strategic projects which are in the pipeline.
It followed the recommendations of the executive committee, chaired by the Crown Prince, to develop the national economy, boost revenues and to slash government spending.
Separately, owners of enterprises and companies could soon be ordered to install surveillance cameras (CCTV) linked to the Interior Ministry, whenever necessary, with operation rooms working round-the-clock.
Under a draft project discussed yesterday, CCTV cameras will be prohibited in bedroom, physiotherapy wards, water closets, fitting rooms and other women-only locations.
The Cabinet also decided that people suspected of involvement in terror-related crimes will have their allowances, financial assistance and bonuses suspended the moment they appear before the Public Prosecution.
If indicted, convicts will lose their eligibility to receive government allowances which can be, however, reinstated with backdated effect in case of acquittal.
A committee will also be set up to monitor traded funds which do not serve public purposes, in addition to fundraisers and money-laundering.
*Oman yesterday announced revised petrol and diesel prices, effective from Friday. The super grade petrol will cost 160 baisas per litre (against the present price of 120 a litre), 140 baisas for regular grade petrol (against 114 baisas a litre) and 160 baisas for diesel per litre (against 146 baisas per litre), according to the Ministry of Oil and Gas.
Source: www.gdnonline.com / GDN Online Desk
