KUWAIT CITY, Feb 13: The incumbent ministers will most likely bear the responsibility for the wrongdoing of their predecessors who purportedly invested public funds amounting to KD731 million without presenting reports to the State Audit Bureau (SAB) or any other concerned authority, sources told Al-Shahed daily.

Sources said suspicions have been raised on the investments, considering the bureau, companies, banks and government investment bodies have not been informed in this regard. Sources disclosed some government agencies failed to meet the deadline for the submission of data on direct and indirect investments, so the bureau had no option but to ask the incumbent ministers to present financial statements of their respective portfolios within 15 days. Sources also added that in case these ministers fail to include in the financial statements the losses or depreciation in the value of investments, they will be held liable for the mistakes of their predecessors.

Sources said the government has incurred losses in its investments in the Kuwait Livestock Company, Al-Wataniya Manufacturing and Automobiles Trading Company, and Kuwait Real Estate Clearing House Company. Sources revealed the capital bases of these companies have depreciated, yet no one bothered to look into the issue. Sources added the previous ministers violated Article Seven of law number 1/1993 on the protection of public funds.   

Meanwhile, the company in charge of security at the Kuwaiti borders is not Israeli-owned and has no relationship with the Zionistic entity, reports Al-Shahed daily quoting reliable sources as saying.

The same sources affirmed the company is Canadian and specializes in developing remote control systems, and added “this information disproves grilling request MP Faisal Al-Duwaisan has submitted against the First Deputy Premier, Minister of Interior Sheikh Ahmad Al-Humoud”.

Sources explained the official correspondence between Ministry of Interior and the security company has to do with official notes the Canadian government sends to Kuwaiti Foreign Affairs Ministry, of which an official letter from the Canadian Embassy in Kuwait indicated the company has 30 years experience in the field of security, thus disproving the inquest of Al-Duwaisan completely.

They reiterated grilling request alleging the allocation of the ministry is 40 million dinars — despite one million dinars has been allotted, reflects the exaggerated manner of dealing with issues.