KUWAIT CITY, April 21: Board Chairman of the Banks Union Mansour Ashour has warned that supporters of privatization bill will be responsible for the consequences of it’s approval, saying the law threatens the future of Kuwaitis and other employees in the public and private sectors, reports Al-Watan Arabic daily.
In statement, Ashour expressed surprise at the manner in which the bill had been approved in its first reading in the National Assembly with an unprecedented parliamentary support, and affirmed that voting for the bill raises many questions.
He added the union strongly opposes the issuance of privatization law, indicating the upshot of the law will be witnessed after five years of implementation.
Meanwhile, the government will oversee the implementation of the privatization draft bill, while the citizens employed in privatized institutions will be under the direct supervision of Kuwait, reports Al-Dar quoting sources.
Sources said the privatized institutions should comply with the specified rules and regulations as Kuwait is keen on protecting the welfare of its citizens.
In a related development, parliamentary sources confirmed the bill will be approved in its second reading two weeks after taking into consideration the proposed amendments, which include granting the government the right to own ‘golden’ shares in privatized establishments, as well as maintaining the salaries of Kuwaitis and the national manpower percentage in private companies.