90,000 Bahraini families in limbo as MPs blast GOSI over mismanaged funds

TDT | Manama                                                     

The Daily Tribune – www.newsofbahrain.com

Outraged Bahraini lawmakers yesterday demanded immediate action over the General Organisation for Social Insurance’s (GOSI) alleged mismanagement of funds, accusing the body of plunging 90,000 families into suffering.

The fiery accusations erupted during a parliamentary session focused on the plight of retirees, whose annual increments were abruptly suspended due to GOSI’s disastrous investments. The move, MPs argued, has left countless families struggling to make ends meet, forcing some retirees back into the workforce simply to survive.

“GOSI’s incompetence has thrown 90,000 families into turmoil,” declared MP Hassan Bu Khamas. “With the cost of living skyrocketing, denying retirees their rightful 3% raise is nothing short of cruel. We demand a concrete plan from GOSI to rectify their disastrous investments and safeguard the future of our retirees.”

MP Maryam Al Sayegh echoed the sentiment, urging GOSI to find sustainable solutions to secure retirement funds and prevent future bankruptcies. “These retirees are the backbone of our society,” she asserted. “Many come from underprivileged backgrounds and simply cannot afford to bear the brunt of GOSI’s mismanagement. Their well-being cannot be sacrificed on the altar of bad investments."

Chorus of disapproval

MP Muneer Suroor joined the chorus of disapproval, pointing fingers at previous decisions that contributed to the current financial imbalance. “GOSI needs to take responsibility for its mistakes,” he stated.

“The government must step in and formulate a clear strategy to minimize losses and restore stability to the retirement funds.” The heated debate underscored the gravity of the situation, casting a spotlight on GOSI’s alleged failures and the devastating impact on thousands of Bahraini families.

With public anger mounting, pressure is intensifying on GOSI to address the crisis without delay and ensure the financial security of those who dedicated their lives to building the nation.