Labour Minister and Chairman of the Labour Market Regulatory Authority (LMRA) Jameel Humaidan on Wednesday said that the step to freeze the BD10 per person labour levy would ultimately help the businesses to get BD24 million direct benefit.
He said that the decision of Labour fees suspension was part of the Kingdom’s efforts of restoring and eliminating negative impact of the unfortunate two months events on Bahrain’s industry.
“Labour fees are equal to nearly BD4 million per month and the government’s generous input to reduce industrial financial weights at present, normally, this decision will at the most benefit companies and associations with high foreign labour force rates, the construction companies which is 30% of the total annual fees, followed by retailing companies with 20% and manufacturing companies with 14%,” he said.
Concerning classifications, the Minister said that large organizations with more than 100 employees enjoyed nearly BD 1.5 million expense cut, enabling commitments and projects endurance.
LMRA Chairman expressed great appreciation to the Kingdom’s leadership in responding to industrial needs, and actively contributing in Bahrain’s economic development.
Humaidan urged business owners to acquire this remarkable gesture and achieve highest productivity and business improvements.