Bahrain gas subsidies surge to $1.6bn
Manama, March 29, 2014
Thirty-five companies are benefiting from natural gas subsidies worth BD610 million ($1.6 billion) in Bahrain, said a report.
Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa said produced gas is mostly consumed by major companies including Alba, Bapco and Banagas, in addition to the electricity and water sector, reported the Gulf Daily News, our sister publication.
In response to a question by MP Dr Jamal Saleh, the minister said government subsidy has witnessed 67 per cent increase in the 2013 budget compared with 12.2 per cent of gross domestic product in 2007.
An international consultancy firm has been commissioned to work out a pricing policy for natural gas, he added.-TradeArabia News Service