Have You Ever Wondered the Making of Bahrain's 2011 Peaceful Uprising: Here Is the Tip of the Iceberg

BY SONDOSS AL ASAAD

The worsening corruption is back to the front in Bahrain as the actuarial deficit of the Public Authority for Social Insurance, or the pension body, has drastically risen in the past fiscal years. Alas, the government will fill its deficit from the citizens' pockets, who will incur the negative consequences of its mismanagement.

The specter of actuarial deficit threatens thousands of Bahraini citizens, economists say. Indeed, an economic system is considered to be in actuarial deficit, ''if the summarised rate of income is lesser than the summarised cost rate of social security for a given valuation era.'' In the simplest terms, the actuarial deficit is the difference between future obligations and current income rates.

The actuarial examination is imperative as it estimates the body's capability to meet its future pension payouts. This increase has mainly resulted from a sharp drop in the returns on investments; embezzlement by the powerful implementers and the ruling family members; absence of accountability; and exempting foreign nationals from insurance contributions (roughly more than 600,000 employees).

Bahrain's government's performance is shocking; instead of preserving the public funds and verifying the legitimacy of spending, it has adopted very low standards of integrity, professionalism, transparency, objectivity and credibility.

Information reveals that hundreds of phantom employees are registered in several ministries and receive monthly salaries, while the national audit office and civil service bureau have tried their best to hide the illegal practice. 

The peaceful Bahrainis aspire a state of accountability, where they have the right to regularly question the government. It is time to hear their voice; the voice of the persecuted people who have since February 2011 demanding a strong, efficient and reliable government, which addresses their concerns, works hard to ensure rewarding financial returns and provides a comprehensive vision that moves the country from deficit to recovery and achievement.Meanwhile, the Bahraini retirees have the right to enjoy all their alienable rights that reflect an appreciation of the great services they did during their tenure. However, Bahrain's economy seems to worsen and pension funds will fail to address any future challenges due to the current government's patchy solutions, failed economic policies and the independence of its institutions, in light of the country's mounting high cost of living and financial burdens.

The Bahrainis demand an elected government, which improves performance, ensures accountability, enhances transparency and promotes independence. Their uprising since day one has aimed at boosting the national economy by a sturdy government, which resourcefully oversees the pension body and addresses its weaknesses or deficiencies so that it can perform its tasks justly and institutionally.

 Bahrain Uprising

SONDOSS AL ASAAD

Sondoss is a Lebanese freelance journalist and translator; based in Beirut, Lebanon. Al Asaad writes on issues of the Arabs and Muslims world, with a special focus on the situation in Yemen and Bahrain.