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A man watches the sunset along the seaside, opposite the National Assembly building.
‘Labor’ eyes more firms to renew work permits Lifting subsidies of citizens denied

KUWAIT CITY, Feb 27: The Ministry of Social Affairs and Labor is currently studying the possibility of adding more companies in the system for the renewal of work permits through its electronic portal, reports Al-Anba daily quoting sources. Sources disclosed this came after the successful experiment on allowing companies with more than 50 employees to renew the work permits electronically.

Sources said the ministry is looking into a number of suggestions in this regard; such as the inclusion of companies with more than 25 but below 50 employees, as well as facilities and institutions with more than 10 but below 25 registered workers. Sources added the ministry is also expected to take a decision on allowing the owners of institutions to get a password and update their data.

The Undersecretary of Ministry of Finance Khalifa Hamada denied that the ministry intends to lift all the subsidies provided to the citizens, indicating that the ministry is studying the possibility of maintaining the subsidy of only necessary items or services without affecting the citizens who earn low income, reports Annahar daily

. He said the ministry is currently tracking and auditing the government expenditures particularly the subsidies in order to identify unnecessary subsidies being provided to people who do not deserve them. Hamada said the ministry conducted an intensive study in this regard with the aim of preserving the public fund, revealing that a huge difference was observed when the subsidies aspect was removed.

He urged individuals and organizations to confirm the accuracy of the news and information before publishing them so that the status of Kuwait regionally and internationally is not affected.

Board Chairperson of Bank Workers Syndicate Mansour Ashour has urged the management of Banking Studies Institute to organize specialized training courses on Labor Law 6/2010 as well as training courses to prepare national workforce for intermediate and high-level leadership positions in the banks, reports Al- Seyassah daily.

Ashour said this during a recent meeting with the Director of the Banking Studies Institute Dr Yaqoub Al-Rifai. He requested for empowering bank employees by helping them enhance their professionalism and experience. During the meeting, Dr Al-Rifai highlighted the plans of the institute for the Kuwaitization of the banking sector on a large scale after enhancing the skills of the Kuwaiti employees in the sector. He enjoined Ashour to express other observations and recommendations concerning areas that the institute might have missed out.

The Public Authority for Investment (PAI) will discuss investing in the infrastructure sector of the British, American and European markets, and increasing its investments in the real estate sector after purchasing Moor Complex in London for 1.687 billion pounds from London Bridge Holdings Company, reports Al- Shahed daily quoting informed sources.

They revealed that the Department of Sovereignty Funds ruled out increasing its investments in shares this year due to increased risk in the invested money, affirming that the PIA manages assets worth more than 400 billion dollars. They said PAI possess shares in British Companies such as British Petroleum, Vodafone Telecommunications Company and HSBC Bank, besides quotas in China worth about 2.5 billion dollars

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