Tamkeen to study price hike impact on industries

Manama: Tamkeen is conducting a study to understand the impact of the increased electricity, water and gasoline prices as well as the removal of subsidies on the industries. The study is in its initial stages and its results will be out later this year.

“We are conducting the study on the impact of increase of power, water and gasoline prices on various industries. This will provide data on the depth of the impact and help determine the measures needed to solve the issue,” said Tamkeen Chief Operating Officer (COO) Amal Ishaq Kooheji yesterday.

“If the results show that the industry is massively impacted then we really need to do something structural. Our analysis report has to go back to the sector concerned and then we set up programmes. So far, there is nothing definite. We are only analysing, and hopefully within a couple of months we will have a view of what we can present to the sector advisory committee,” she said.

She explained that the various steps taken to tackle fraud at the organisation had been effective. Amal added that suppliers approaching Tamkeen on behalf of businesses used to be an issue, addressing which was key in curbing fraud.

“We gave the onus to the businesses to say reveal their priorities. We noticed a drop in the number of requests because it is not supplier-driven anymore. It’s now nearer to real demand and it helped reduce fraud. The anti-fraud division also helped in tackling fraud.”