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Sep 17 2007

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Bahrain: Amnesty-seekers on shopping spree

As labourers in the Kingdom take advantage of amnesty, many are buying watches, dresses, professional equipment for their trade and even gold in substantial quantity before leaving.

The ones doing a roaring business are watch-sellers in the unorganised market. In addition, the perfume stores have a field day, with the lower end of the spectrum making a killing. Clothes, sweets and toiletries are the main items on their list.

For the labourers though the attraction of gold is tempered by the cost and the fear of harassment by customs officers.

Some labourers told the Tribune that the gold price at BD83.500 per 10 grams yesterday is slightly higher than what they would like to invest now.

"In addition, we have the hassle of the customs officials to deal with. It is better to have the cash deposited and buy just those items we know we cannot get there," said a resident of Trivandrum.

The high price of gold is making the labourers leaving Bahrain turn to other products to carry as investments, said Kapil of Kapil Jewellers.

Despite a 10 per cent increase in sales compared with June-September 2006, the price is still a tard too high for the labourers, said Prakash Devji of Bhaskar Devji Jewellers. Their gold buying is more by the lower end of the spectrum, he said.

However, a spokesperson for Joyalukkas said they are responsible for over 30 per cent of the sales. Here it is the volume customer not the quality customer, he said.

The craze is for sweets and clothing because, according to some, the children and the better halves have to be dealt with. "I can wait for a better investment later. I go home now and am sure to come back later, because there is sure going to be a shortage of drivers. The authorities can talk about bringing in local labour, but on the face of it, drivers in private houses are always expats as are housemaids. So we will all come back right here. Investments in items other than hard cash can be looked into then."

The pack, as this reporter found in a mason's baggage, included two blankets for his aged mother, professional equipment including electric hammers and construction tools, in addition to sarees from Roopam and dresses from stores in Manama.

He picked up all the clothes during the sale season. This, he said, helped him get a good bargain.

"Life will be so much easier once I am there with these equipment." he said, showing the construction tools he had bought.

He told The Tribune that they were turning more to watches as investment. They look at the fancy watches at the lower end of the price band, he added.