Manama Souq demand subsidy for survival

Manama : Businesses at Manama Souq need government subsidy to survive, said Manama Traditional Market Deputy Chairman Mahmood Al Namliti yesterday.

According to him, the removal of the subsidies came at the worst time for the Souq as it is struggling financially. “The Souq needs special consideration owing to its cultural and historical status.” 

New electricity and water rates were implemented in March as subsidies were slashed for expatriates. 

“The removal of electricity and water subsidies has adversely affected the businesses, who are already struggling. So I am extremely concerned about this situation. The Manama Market is a place with a great history. It has a huge potential. But it is struggling badly at the moment,” Al Namliti pointed out. “We should be aspiring for our traditional markets get to level of the ones in UAE and Qatar. In Qatar, they have the Souq Waqif, which is well-known throughout the region. They have a lot of tourists visiting them. They got to this point because of the government support they received. Bahraini Souqs can also reach that level but it requires time, patience and investment,” he observed. 

Calling for further investments in the Souq, Al Namliti said: “I think the struggling businesses in the Manama Souq should have some support from the government and organisations like Tamkeen. Tamkeen has funds, investing some of these funds to the Manama Souq will only be good. Any investment the Manama market gets, the benefits will be double, I am sure of that.”

“Tamkeen is talking about BD50 million that is going to be spend this year. Why don’t they invest something in the Souq?” he queried.