Manama: The Ministry of Finance and National Economy has announced that Bapco Energies has successfully transferred all outstanding state dues for the financial years 2023 and 2024. This transfer was completed in alignment with the legal and regulatory stipulations outlined in Law (5) of 2023, which approves the state budget for the specified years.
According to Bahrain News Agency, the announcement from the Ministry was in response to the 2024-2025 report issued by the National Audit Office, which reviewed the company's outstanding financial transfers for the two fiscal years. The Ministry expressed its gratitude for the National Audit Office's diligent efforts to bolster cooperation with government entities. It emphasized the office's pivotal role in enhancing operational efficiency, improving government performance, and advancing procedural development within public sector bodies.
The Ministry reaffirmed its unwavering adherence to the financial laws and regulations of the Kingdom of Bahrain, emphasizing its dedication to maintaining the highest standards of governance and transparency. These principles are integral to safeguarding public funds and optimizing government revenue collection, ultimately supporting fiscal sustainability and contributing to the objectives of the nation's comprehensive development strategy.