Royal directives to launch financial, economic package for private sector lauded

Manama, Minister of Labour and Social Development Jamil bin Mohammed Ali Humaidan has commended the royal directives to unify the national efforts to handle the repercussions of the global outbreak of coronavirus (COVID-19). He noted that the royal directives aim to ensure the safety of the people in Bahrain while maintaining the sustainable development programmes. He pointed out the decisions of the government, led by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, and the orders of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, to launch an economic and financial stimulus package to provide the needed liquidity for the private sector to deal with the effects of the current situation and preserve sustainable growth.

The Labour and Social Development Minister praised the royal directives to launch a financial package to tackle any potential economic repercussions that are likely to affect citizens’ life and welfare. He said the government’s payment of the salaries of Bahraini citizens working in the private sector for April, May and June, 2020, in accordance with what is registered with the Social Insurance Organisation, will guarantee stability and sustainability and boost the employers’ capability should they incur any negative effects resulting from the exceptional circumstances.

The minister noted that subsidizing salaries will take place by benefiting from the Unemployment Insurance Fund which will contribute to economic stability and minimizing the repercussions of COVID-19 outbreak. A total of 100,000 Bahraini private sector employees, registered with the Social Insurance Organisation, will have their April, May and June salaries covered by the fund at a cost of BD 215 million, with a monthly average surpassing BD 70 million.

The needed constitutional and legal procedures will be finalized in the upcoming days to put the decision into force and, subsequently, the executive procedures will be announced on ways of benefiting from the decision.

Source: Bahrain News Agency