Economic package ‘key to private sector revival’: Bahrain Airport Services

Financial and economic package of $11.4bln will play a positive role in mitigating the negative effects that have caused economic stagnation for many private sector institutions

  

MANAMA: Bahrain Airport Services (BAS) has put in place precautionary plans for the operation of the Bahrain International Airport (BIA) in the face of a quiet air traffic in the coming period.

As one of the national companies, BAS employs approximately 3,000 employees and workers at the airport, Bahrain’s gateway to the world.

In a statement, BAS executive committee chairman Nabeel Kanoo expressed BAS’s pride and appreciation for the royal directives of His Majesty King Hamad, to unite national efforts to counter the effects of the global spread of Covid-19 at the local level in order to preserve the health and safety of citizens and residents.

Under the leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, a financial and economic package has been launched to provide the necessary liquidity to the private sector.

He added that this financial and economic package of BD4.3 billion, will play a positive role in mitigating the negative effects that have caused economic stagnation for many private sector institutions, particularly the aviation sector in Bahrain, and will provide sufficient financial liquidity that will ease the burdens and obligations of the employer.

It will also help to provide the right conditions that allow the private sector to resume their activities competitively and to fulfil their responsibilities to contribute in national economy.

Mr Kanoo welcomed the report of the World Health Organisation’s Eastern Mediterranean Regional Office on Bahrain’s measures to combat the coronavirus pandemic, in which it praised the kingdom’s handling of the virus by implementing a comprehensive national strategy to contain and prevent the spread of the virus.

He also praised the directives of Shaikh Nasser bin Hamad Al Khalifa, His Majesty’s representative for charity work and youth affairs, National Security Adviser and chairman of Supreme Council for Youth and Sport, to take steps to overcome the exceptional phase that the kingdom is currently going through due to the coronavirus, including directives by the Central Bank of Bahrain for banking institutions to postpone the payment of loans for citizens for six months, which will contribute to creating cash liquidity for every citizen in the kingdom in order to revive the economic cycle in these exceptional circumstances in addition to easing the burden on citizens in this period especially young ones.

Mr Kanoo expressed his pride in the support shown by the leadership for citizens and the private sector, stressing that this will be reflected in moving the wheel of economic development and maintaining sustainable growth.

© Copyright 2019 www.gdnonline.com

Copyright 2020 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From GCC