Latest news with #AhmedAlMusallam
Daily Tribune
07-05-2025
- Business
- Daily Tribune
Ministries may rent out public building walls for adverts
Parliament has begun studying a government-backed proposal that would allow ministries and agencies to rent out bare spaces in public buildings for advertising. The draft law, which arrived with Royal Decree No. 27 of 2025, was passed to the Public Utilities and Environment Committee for scrutiny, with the Legislative and Legal Affairs Committee asked to give its take. The bill would change Article 12 of the 1973 Decree-Law on Advertisement Regulation and clear the way for ministries to turn unused patches of wall into commercial display space. Under the proposed change, these areas within buildings already set aside for public services could be turned into advertising zones so long as the minister in charge sets rules and signs them off. A letter signed by Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa and addressed to Speaker Ahmed Al Musallam accompanied the bill and cited Articles 35 and 81 of the Constitution as its legal grounds.
Gulf Insider
24-03-2025
- Business
- Gulf Insider
Bahrain Budget 2025: VAT Remains, Pensions & Housing Increase
The VAT rate will remain unchanged under Bahrain's draft state budget for 2025 and 2026, which also includes an annual increase to retirees' living allowance, employment and training opportunities for 50,000 Bahrainis each year, and a record BD800 million earmarked for housing. These were among eight measures agreed during a joint meeting between ministers and lawmakers Saturday as both sides reviewed the draft budget. The living allowance for pensioners, introduced in the last budget, will be maintained and increased. This was one of the first measures confirmed during the meeting. On jobs, the government said it aims to recruit 25,000 Bahrainis each year, including 8,000 new graduates. Tamkeen will oversee training and funding programmes for an additional 50,000 Bahrainis annually. The BD800 million housing allocation was described as the largest yet, with efforts focused on reducing waiting lists and accelerating access to homes through collaboration with private developers. BD688 million has also been allocated to the health sector. Other plans include building new schools, refurbishing existing ones, updating curricula, and hiring more Bahraini teachers. At least five per cent will be cut from government operating costs, and low-income Bahrainis will receive cash support if subsidised goods become more expensive during the budget period. Several revenue-raising measures were also reviewed. These include a levy on company profits above a certain threshold, new taxes on energy drinks, sweetened soft drinks, and tobacco, as well as a carbon emissions tax for companies. Talks were led by Parliament Speaker Ahmed Al Musallam, Shura Council Chairman Ali Al Saleh, and Finance Minister Shaikh Salman bin Khalifa Al Khalifa. The meeting followed several earlier rounds held between October and March. Discussions also covered spending in other areas such as education, public works, social welfare, and utilities. The minister said the proposals aim to balance long-term investment with daily needs while easing pressure on public finances. Also Read: Higher Excise Taxes On Tobacco, Soft Drinks, And Energy Drinks In New Budget
Zawya
24-03-2025
- Business
- Zawya
Bahrain: Eight-point deal on budget agreed
Bahrain - Eight fundamental principles, mainly keeping VAT as it is and increasing 'sin tax', have been reached between the government and legislators. The consensus was reached at an urgent extraordinary high-profile meeting yesterday between ministers headed by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa, MPs headed by National Assembly and Parliament Speaker Ahmed Al Musallam and Shura Council members headed by Chairman Ali Saleh Al Saleh. Shaikh Salman expressed his sincere appreciation to members of the legislative authority for their constructive co-operation and continuous efforts to serve national interests. He affirmed that the meetings between the two authorities have been productive, demonstrating mutual seriousness and responsibility in achieving the intended goals. The agreed points that would form the foundation of the new 2025-2026 national state budget: 1. No increase in VAT: To maintain economic stability and shield citizens from additional financial burdens, the government confirmed that the Value-Added Tax (VAT) rate will remain unchanged. 2. Enhancing pensioners' living standards: Recognising the importance of financial security for retirees, the budget will retain the cost-of-living allowance for pensioners introduced in the 2023-2024 budget, with an additional increase in the 2025-2026 cycle. 3. Investing in key public services: A substantial allocation has been made to improve public services, including housing, education, infrastructure, and healthcare: Housing projects: A record-breaking BD800 million will be dedicated to housing projects to ensure immediate access to housing services and reduce waiting lists. This includes private sector partnerships to expedite development. Education: A focus on hiring qualified Bahraini educators, updating curricula and expanding educational services. Infrastructure: Construction of new schools in expanding residential areas, restoration of historic schools, and enhancements to roads and sewage networks. Healthcare: An investment of BD688m to enhance medical services and facilities. Job creation and economic empowerment: Employment remains a top priority, with initiatives designed to create opportunities for Bahrainis. This will include creating 25,000 job opportunities per year, new programmes targeting the employment of 8,000 fresh graduates annually and support through the Labour Fund (Tamkeen) for 50,000 Bahrainis per year in training and financing programmes. 4. Reducing government operational costs: To ensure fiscal responsibility, ministries and government agencies will be required to cut recurring expenses by at least five per cent. 5. Low-income support: Providing direct cash support to low-income citizens in case of any adjustments to the prices of subsidised goods during the budget cycle. 6. New revenue streams and corporate responsibility: In a bid to strengthen financial sustainability, the government plans to introduce new tax regulations: Corporate taxes on companies exceeding a certain revenue threshold. Incentives for businesses that prioritise hiring Bahrainis. Increased selective taxes on energy drinks, sugary beverages, and tobacco. Introduction of carbon emission fees for companies. 7. Sustainable urban development: The budget includes initiatives to encourage the development of commercial and investment lands that remain unused, ensuring more effective urban expansion. 8. Deficit reduction strategies: To maintain fiscal stability, the government has outlined strategies to manage financial deficits and secure funding for necessary expenditures. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Daily Tribune
23-03-2025
- Business
- Daily Tribune
Budget delivers homes, careers : VAT rate unchanged as funds for citizens' pensions, housing, and other services set to rise
The VAT rate will remain unchanged under Bahrain's draft state budget for 2025 and 2026, which also includes an annual increase to retirees' living allowance, employment and training opportunities for 50,000 Bahrainis each year, and a record BD800 million earmarked for housing. These were among eight measures agreed upon during a joint meeting between ministers and lawmakers yesterday as both sides reviewed the draft budget. The living allowance for pensioners, introduced in the last budget, will be maintained and increased. This was one of the first measures confirmed during the meeting. Jobs On jobs, the government said it aims to recruit 25,000 Bahrainis each year, including 8,000 new graduates. The joint executive-legislative meeting in progress. Tamkeen will oversee training and funding programs for an additional 50,000 Bahrainis annually. The BD800 million housing allocation was described as the largest yet, with efforts focused on reducing waiting lists and accelerating access to homes through collaboration with private developers. Health sector BD688 million has also been allocated to the health sector. Other plans include building new schools, refurbishing existing ones, updating curricula, and hiring more Bahraini teachers. At least five percent will be cut from government operating costs, and low-income Bahrainis will receive cash support if subsidized goods become more expensive during the budget period. Several revenue-raising measures were also reviewed. These include a levy on company profits above a certain threshold, new taxes on energy drinks, sweetened soft drinks, and tobacco, as well as a carbon emissions tax for companies. Talks were led by Council of Representatives Speaker Ahmed Al Musallam, Shura Council Chairman Ali Al Saleh, and Finance Minister His Excellency Shaikh Salman bin Khalifa Al Khalifa. 'The proposals in spending aim to balance long-term investment with daily needs while easing pressure on public finances.' Rounds The meeting followed several earlier rounds held between October and March. Discussions also covered spending in other areas such as education, public works, social welfare, and utilities. Shaikh Salman said the proposals aim to balance long-term investment with daily needs while easing pressure on public finances.
Daily Tribune
23-03-2025
- Business
- Daily Tribune
VAT to Stay, Pensions and Housing to Rise in 2025–2026 Budget
The VAT rate will remain unchanged under Bahrain's draft state budget for 2025 and 2026, which also includes an annual increase to retirees' living allowance, employment and training opportunities for 50,000 Bahrainis each year, and a record BD800 million earmarked for housing. These were among eight measures agreed during a joint meeting between ministers and lawmakers Saturday as both sides reviewed the draft budget. The living allowance for pensioners, introduced in the last budget, will be maintained and increased. This was one of the first measures confirmed during the meeting. On jobs, the government said it aims to recruit 25,000 Bahrainis each year, including 8,000 new graduates. Tamkeen will oversee training and funding programmes for an additional 50,000 Bahrainis annually. The BD800 million housing allocation was described as the largest yet, with efforts focused on reducing waiting lists and accelerating access to homes through collaboration with private developers. BD688 million has also been allocated to the health sector. Other plans include building new schools, refurbishing existing ones, updating curricula, and hiring more Bahraini teachers. At least five per cent will be cut from government operating costs, and low-income Bahrainis will receive cash support if subsidised goods become more expensive during the budget period. Several revenue-raising measures were also reviewed. These include a levy on company profits above a certain threshold, new taxes on energy drinks, sweetened soft drinks, and tobacco, as well as a carbon emissions tax for companies. Talks were led by Parliament Speaker Ahmed Al Musallam, Shura Council Chairman Ali Al Saleh, and Finance Minister Shaikh Salman bin Khalifa Al Khalifa. The meeting followed several earlier rounds held between October and March. Discussions also covered spending in other areas such as education, public works, social welfare, and utilities. The minister said the proposals aim to balance long-term investment with daily needs while easing pressure on public finances.
