BCCI Vice President: Gov’t Delay in Paying Dues to Business Enterprises Causes Huge Losses
2019-04-05 - 7:31 am
Bahrain Mirror: First Vice President of Bahrain's Chamber of Commerce and Industry Khalid Al-Najibi said that the issue of owed money to small and medium-sized enterprises by the government has become an obsession to these enterprises, and has greatly affected their work.
He added that the chamber's boards have seen frequent complaints about the late receipt of their dues from the government, stressing that this has resulted in significant losses to the institutions.
Najibi said that the commercial banks in Bahrain have also complained about the difficulty of obtaining their dues from merchants due to them not receiving their dues from the government.
He said that the chamber submitted 5 recommendations in its report to the Cabinet, including recommendations about the money owed to the small and medium-sized institutions by the government.
Najibi further stated that the Prime Minister ordered establishing a work team comprising representatives from all the ministries and those concerned in the commercial field to study and discuss the chamber's recommendations.
He noted that the submitted recommendations didn't include the chamber's study regarding the 100% ownership of the trade records by foreigners and did not include the effects of flexible employment on the local market, indicating that the two topics were mentioned. Meanwhile, two separate reports are to be submitted after the completion of the study conducted by the chamber about these effects on the local market.