Tue, 16 June 2020
The cabinet has endorsed, based on a recommendation by the Government Executive Committee, led by HRH the Crown Prince, a draft-decree on including emergency expenses in the general state budget for the fiscal year, 2020.
This was stated at the regular weekly cabinet session chaired by HRH Premier and attended by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Premier.
Submitted by the Minister of Finance and National Economy, the bill aims to allocate a budget not exceeding BD 177 million to deal with the emergency expenses required for mitigating COVID-19 impacts and curbing its spread.
In addition, the Cabinet approved, based on a recommendation by the Government Executive Committee, chaired by HRH the Crown Prince, a draft law decree amending some provisions of the Reorganisation and Bankruptcy Law.
The bill aims to enhance transparency in the reorganisation and bankruptcy procedures, as well as to ensure the rights and role of creditors in them.
The cabinet decided to take the necessary constitutional and legal procedures in force regarding the draft decree.
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