Manama, Nov.17 (BNA): Finance Minister Shaikh Ahmed bin Mohammed Al-Khalifa today cautioned against the detrimental repercussions of endorsing the law that aims to put a cap of 60% on Bahrain’s public debt. Addressing the weekly session of the Council of Representatives, he urged MPs to heed the citizens’ interests before approving the legislation, stressing the need to seek viable solutions that enable Bahrain to boost revenues and reduce spending.

“The draft law capping public debt was first approved by the Shura Council in 2008”, he said, adding that financial and economic conditions have since changed. He pointed out that public debt could only be tackled by boosting revenues and reducing spending, adding that the Government has already started scrapping subsidies which benefit expatriates, companies and well-to-do people. He urged Mps to work hand in hand with the executive so as to come out with measures that boost the state revenues and reduce spending, stressing the need to focus on priorities instead of compromising services that benefit citizens above all.

He underscored the importance of drawing up a clear plan which aims to increase revenues and reduce spending, so as to strike a balance and repay debts. On his part, the Information and Parliament Affairs Minister Isa Abdulrahman Al Hammadi underlined the government’s keenness to carry out many citizen-oriented projects while taking into consideration proposals by the parliament.

He pointed out that proposals are referred to the relevant authorities for study and their draft reply is submitted to the government committees before discussing them by the Cabinet in preparation for their approval.
He also urged members of the parliament to study the feasibility of the proposals reminding them of the importance of parliamentary work and the government’s commitment to dealing with the proposals according to the constitution. He pointed out the government’s response to 19 proposals, adding that 13 of them are already implemented on the ground.

Commenting on a proposal to map out a strategy to boost therapeutic tourism in Bahrain, Al-Hammadi underscored the steps taken by the government to further regulate the health sector and promote the private sector’s contribution to it. He also noted the ongoing efforts to further develop the health sector by training and grooming its staff.

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BNA 1959 GMT 2015/11/17