Ladies and gentlemen open your wallets, and expect BD500 to dive right into them, courtesy of non other than our praiseworthy MPS: Adel Al-Moawdah, Abdulhadi Marhoon, Abdulaziz Al-Moosa, Mohammed Al-Shaikh, Hamad Al-Mohannadi.
Why?
Simple. They had a joint humungous brain-fart that as the price of oil per barrel has reached $55, why not go against all economic principals and GIVE some of the proceeds to the public? An added reasoning of course is they’re banking their chances of re-election to the dim-witted few who might get taken with this lark.
According to Al-Wasat, (arabic) no doubt information well researched and delivered by the honourable MPs mentioned above, we have 68,686 Bahraini families in total, and each will receive – if this bill gets approved by parliament, and then the government – BD 500.
Let’s do the calc now shall we:
- BD500 x 68,686 (nice number that!) = 34,343,000 smackaroos (even nicer number). To you American visitors, that is 91,095,490is greenbacks.
Now you might ask, as I have been, where the heck is all this real money coming from, considering that Bahrain hardly exports oil, with the “old lady” of Awali only pumping out some 40,000 (most of that water) barrels a day (that’s $2,200,000) and the Gift From Saudi (Abu Sa’afa offshore) oil field’s Bahrain share is some 150,000 (I think) which comes to $8,250,000 so that puts the daily oil revenue for Bahrain optimistically at $10,450,000. As the price of oil has only risen to this level this month (I’m no economist, but simple mathematics is employed by my brain, so bear with me) so that’s 3 months, then the gross oil revenues would be $940,500,000 equivalent to BD 354,568,500. Essentially they’re only giving away about 10% of the gross revenue. What are the costs of extracting this black gold? What is the net profit the government realises from the sale of oil? I don’t know.
So what of it?
What of it my friends is that this money could be employed at much better pursuits than ensuring that these dickheads get elected again because fools who receive this money will think that it is them to thank for giving them the money. Not taking into consideration any deficits the country might be labouring under, foreign loans, bonds and other monetary instruments.
And what about the parliament’s role in overseeing the government spending? What about fiscal policy? What about the budget which they approved (so quickly and happily during the last session) and their warnings to the government not to come back for more money? Now we see them pushing through a bill encouraging the government to over-spend! Aren’t they for ever complaining that we don’t have roads and services? Now that they have the chance, they squander it (as usual) on publicity stunts like these, never of course thinking of long term effects, nor repercussions.
I for one don’t want this money thank you very much. Not that I think that the government will approve it of course, but seeing how the government has behaved recently, and the trouble it’s in locally and internationally, they might well approve it, maybe not as much, but enough to quieten some people.
I ask both parliament and the government rather than giving away this money which might be ill-spent in a single day, to start thinking seriously of future generations and putting whatever surplus money there is because of this oil bonanza in a secure fund for future generations.
As to the dimwits headed by Al-Moawdah, I say, stuff it. We’re sick and tired of your publicity stunts. Either get in front of a bus and put us all out of our misery, or better still, I hope that people of Bahrain really give you your just desert the next time around.
I can’t wait for 2006.
Comments
They can’t lose and we can’t win
You know, I’m going to have to hand it to them! Brilliant political strategy it is doggone it.
On one hand, if it goes through they’ve just bought themselves each a vote at BD500 a pop. The best part is that they won’t pay a single filoos for it! The Poppa Gov’t pays for it all!
On the other hand, should the bill get deep-sixed, or even if as much as BD5 get lopped off the payout, then agitated voters re-elect them and for good measure send more of their buddies with them! (More than likely the voters at other constituencies will vote out the bills opponents for beard-o’s who will promise them BD500 from the next SUV crisis)
Then the fun begins. You see, once they get their parliamentary majority, they’ll start on their little pet projects and that payout will soon dwindle to about oh, BD25 and discount coupons for your next Hajj!
But in all seriousness, it doesn’t make sense to throw money at a population that is for one, already heavily dependant on the government, and for another constantly harping about lacking jobs but given less and less incentive to hold a job down. Not to mention how BD500 spends differently for some Bahrainis than others
Especially considering that Bahrain is still carrying external debt, and has credit rating issues that constantly threaten to jeapordize some of the newer and more ambitious projects.
This is really unprecedented, I’ve never seen such legislative imprudence. I mean religious fundamentalists giving citizenry free money indiscriminitely on the tail end of a booming economy, while ignoring an impending slowdown….
oh, wait a minute….
Yet another brain-fart
That’s two brain-farts in one week! These guys are on a roll. First it was to cut down the working day to five hours,… and now they want to give away BD35 million for nothing. I don’t know which idea is dumber. But let’s not waste too much time deciding yet, because I bet their next proposal will trump them both. Any guesses on what their next idea will be? How about allowing drivers to break red traffic lights? Or maybe they’ll want to legalize bribery for Ramadan? Let’s hear your ideas.
The latest is that the BD500 proposal has been shelved till next week. But let me leave with you with too extremely intelligent quotes from my hero Ma’awada:
And:
Vote Ma’awada for Prime Minister!!
[Modified by: Chan’ad (chanad) on October 20, 2004 06:22 AM]
Re: Yet another brain-fart
Ramadhan and Working do not mix in his dictionary. I am really at a loss about this guy. He’s studies for many years in the UK. He is supposed to have been one of the “experts” at the Central Statistic Organisation and he is supposed to be a Computer Scientist.
What the hell went wrong with this guy? Maybe staring at the screen too long, or too much “alternate” surfing?
The mind boggles.
Saidi out-stinks Ma’awada
Mahmood! Please do something. Everytime I open the papers I don’t know whether to laugh or cry. These guys are trying so hard to out-brainfart each other. The latest is that Jassim Al-Saidi is trying to outdo Al-Ma’wada by offering a BD1,000 gift… double the BD500 offered by Ma’wada. Who will be the next bidder to empty our coffers for stinky 2006 votes?
Says the GDN:
[quote]MANAMA: MP Jassim Al Saidi is urging parliament to approve a BD1,000 Eid bonus for all Bahraini families. This is double the BD500 Eid bonus proposed by Parliament Second Deputy and Al Asala chief Shaikh Adel Al Mouawda and four other allied MPs. Yesterday, Mr Al Saidi was reported as backing a counter-proposal with four other MPs, urging the government to use the surplus generated by soaring oil prices to reduce the budget deficit, alleviate debts, finance infrastructure projects and build solid currency reserves. “Bahrainis are over-indebted and are in need of a helping hand… They deserve aid,” he told our sister paper Akhbar Al Khaleej.[/quote]
[Modified by: Chan’ad (chanad) on October 25, 2004 07:17 AM]
Yet another brain-fart, this time parliamentarians disregard fiscal policy
I didnt know that Ma’awdeh was a computer scientist. I always thought he was a bone fide hippy … As for Saidi – 3 wives .. does that mean he makes BD 4K out of his brilliant plan? One for him and 3 for them?
Re: Yet another brain-fart, this time parliamentarians disregard fiscal policy
You kidding? Mo’awdah was a known “imbiber” of fine liquids before Allah found him, or he found Allah. Yes he has got a BSc in Computer Science from North London University (1982), and then a Masters in Islamic Studies with honours (2000) (don’t know where from though)
As to Al-Saidi, he probably would use the money to get the fourth! He shouldn’t need the money now though after more than 2 years siphoning public funds in the form of undeserved huge salaries. Interested in being number 4? 😉
Re: Saidi out-stinks Ma’awada
Yes I know. I know how you feel. You can’t take whatever Saidi says or does seriously. This guy is flip-flopper galore: only yesterday he came out AGAINST Al-Mo’awdah and said that he opposes the BD500 gift because the money should be used to alay government debt and be used for infrastructure. Today he not only rescinded what he said yesterday, but DOUBLED Al-Mo’awdah’s offer.
You know the sad thing? In his little brain he might not find this wrong.