Subsist sans subsidy

Manama

The Minister of Industry and Commerce confirmed yesterday that meat subsidies would be stripped from September 1 to revitalize the commercial movement in the Kingdom and to boost the import of live and chilled meat.

Following a meeting with the Chairman of Bahrain Livestock Company(BLC) Ibrahim Zainal, Minister of Industry and Commerce Zayed bin Rashid Al Zayani said the decision is aimed at directing funds to citizens, to enable them buy food, according to their needs.

The difference between the current sale price and the expected price post the subsidy-cut, would be equally distributed to all citizens. However, the ministry did not mention, how this distribution would be carried out.

The move is also expected to spur the sale of meat, according to the recent studies made by the ministry, he said. He noted, there are currently 70 licensed commercial meat sellers, as well as hundreds of other licensed sellers in the Kingdom.

The minster commended BLC’s role in ensuring food security. He also stressed the need for BLC and the ministry to work together to establish more local companies engaged in meat selling.

BLC Chairman Zainal said the company would continue to provide standard-quality meat according to market needs. He added the company is awaiting shipments of 150,000 live sheep from Australia this month in preparation of Eid Al Adha.

He also expressed his readiness to cooperate with the companies that would be established after the lifting of the subsidies, to facilitate the slaughtering process according to local regulations.

The decision to lift meat subsidy was earlier postponed for a month after Prime Minister HRH Prince Khalifa bin Salman Al Khalifa ordered for further research to maximize the gains to citizens.