Undersecretary highlights Cabinet’s decision to reduce infrastructure fees

      Published on Thursday, 2 January , 2020      302      
Undersecretary highlights Cabinet’s decision to reduce infrastructure fees

  • Government

 Municipalities Affairs Undersecretary at the Ministry of Works, Municipalities Affairs and Urban Planning, Shaikh Mohammed bin Ahmed Al Khalifa, has held a meeting with a number of Bahraini banks which are participating in financing the fees of infrastructure projects.

The undersecretary updated the representatives of Bahraini banks about the progress of the executive procedures to implement the resolution of the Cabinet, based on a recommendation by the Government’s Executive Committee, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, to reduce infrastructure tax from BD12 to BD10 per square metre, provided the fee is paid in full at the time permit is issued.

The move aims to stimulate investments, and enhance the business environment in the kingdom.

Representatives of the National Bank of Bahrain, the Bank of Bahrain and Kuwait, Al-Salam Bank and the Bahrain Islamic Bank, in addition to those of the Information and e-Government Authority attended the meeting.

The undersecretary also informed the attendees about the Cabinet’s approval of facilitating financing from commercial banks through the building permit system “Benayat” in instalments, while also keeping the option to pay in three instalments at a rate of BD12 per square metre.

Shaikh Mohammed bin Ahmed Al Khalifa asserted that in line with the kingdom’s keenness to attract investments and provide facilities for investors, the Works Ministry has facilitated the issuance of building permits through the launch of the “Benayat” system which fast-tracks the permit issuance procedures, which contributes to boosting the role of the private sector in various development fields.

Category Government | 2020/01/02 latest update at 2:49 PM
Source : BNA | Photocredit : Google
Comments Add comment

Gulf Media

Related Articles

The editorial staff of Bahrain Today would like to give all of its readers from Gulf and Bahrain and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bahrain Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.