Monday , October 23 2017

Bid to reduce ‘expenditures’

KUWAIT CITY, April 28: The government is considering the possibility of reducing expenditures by limiting the benefits provided to serious leaders and cancelling the support for new independent authorities such as Public Authority for Fighting Corruption, Kuwait Fund for Small and Medium Enterprises and Public Authority for Communication, reports Al-Shahed daily quoting governmental sources.

They indicated the government’s willingness to reduce expenditures related to overseas missions and travel expenses. The sources said the expenditures of the coming phase will be closely evaluated and necessary low-cost alternatives will be selected in order to reduce the expenditures as much as possible.

They revealed that the ministries have already started applying the rationalization policy by cancelling unnecessary official trips of leaders and senior officials and reducing the number of companions of these leaders during such trips to just one.

The government’s decision to reduce expenditures since the beginning of this year led to reduction in the gains of banks by 6.3 percent which is equivalent to KD 9.9 million, reports Al- Shahed daily quoting sources. Sources disclosed the banks gained KD 145.48 in the first quarter of the year and this is 6.3 percent lower that its gain within the same period last year that amounted to KD 155.48 million.

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