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Monday , December 6 2021

Kuwait lost KD 1 billion in state properties

KUWAIT CITY, Nov 4: The State Property Administration of Ministry of Finance is unable to retrieve and develop many state properties and shopping malls worth around KD one billion due to the bureaucracies affecting transactions for its retrieval and development passed through at Kuwait Municipality, reports Al-Qabas daily.

According to the correspondences from Ministry of Finance, the Municipal Council ignored several requests to issue certificates for the description of state properties in a prelude to floating the, in a public auction in line with law No. 105/1980. This is in addition to refusal to respond to other relevant correspondences for almost four years in certain instances.

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