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Stop violence to revive economy

ACTS of violence and vandalism must stop for Bahrain's economy to fully recover from the unrest, says a leading businessman.

They are only leading the country into further financial destruction, said Shura Council Financial and Economic Affairs Committee chairman Khalid Al Maskati.

He made the comments during a meeting at the National Assembly complex in Gudaibiya yesterday to discuss how to revive the sectors worst affected by the unrest.

"We have to regain people's faith in our economy if we are to implement any future revival plan and this doesn't come through violence, vandalism and terrorist acts," said Mr. Al Maskati.

"It also can't come through boycotts by people of businessmen from the opposing sect or through threats to halt work and go on strikes."

According to a report submitted to the Shura Council on Monday, Bahrain has suffered losses of up to BD800 million due to the unrest.

It recorded "direct losses" of BD200m to the economy and "indirect losses" of around BD600m.

The study was prepared by a joint committee involving the Bahrain Chamber of Commerce and Industry, Parliament and The Shura Council. Mr. Al Maskati's findings will be discussed in the National Assembly and later presented to His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa for implementation.

Page last updated on: 05/02/2018 01:21 PM