GULF DIGITAL NEWS
7th APRIL 2015 - Vol.XXXVIII No.018
Local News

SHARES PLAN

MANAMA: The public will soon be able to buy shares in Bahrain's post offices, petrol stations and other services.This is part of a wide-ranging privatisation programme, revealed by the Economic Development Board (EDB) chief executive.

There are a number of schemes studied by the privatisation committee such as mail services, petrol stations and others, he said.

Shaikh Mohammed bin Isa Al Khalifa added that the privatisation process is regulated by a decree stating that it should include services and production sectors, mainly tourism, telecommunications, transport, power, water, ports services, oil and gas and others.

Shaikh Mohammed said the government intends to present a new draft law on the Tourism Development Authority in the next legislative term.

He emphasised the importance of carefully planning the development of lands and infrastructure in Bahrain's fast growing economy.

Shaikh Mohammed said only 20 per cent of Bahrain's lands were structurally planned whereas the target is 100pc to facilitate the delivery of basic services to citizens.

In 2005, the EDB had launched a comprehensive land and infrastructure development strategy, he said. It took into consideration the various requirements of different economic sectors such as business, entertainment, industry, housing and investment.

Shaikh Mohammed affirmed that the plan will help shape the future requirements of the country and also play a key role in designing new residential areas.

In an important change in strategy, he revealed the government is aiming to move away from building new towns to the expansion of currently existing villages so that citizens will remain in the area they have grown up in.






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