KUWAIT CITY, Feb 28: Kuwait Municipality has terminated the services of 100 employees assigned in the help desks in various sectors of the Municipality due to failure to submit the required academic certificate to the Employees Affairs Department, reports Al-Anba daily quoting Assistant Director General for Financial and Administrative Affairs Eng Waleed Al-Jassem. According to Al-Jassem, the department has informed all the concerned departments and centers on the need for these employees to submit the certificate with a warning that non-compliance will lead to suspension of the payment of salaries and then termination. He affirmed the department will witness the most remarkable change in the history of the Municipality due to the expected transfer, reshuffle and termination of several employees for various reasons. He said the data of three expatriate help desk employees in the centers of governorates were not entered into the system and they were found to have been receiving their salaries even if they were at home.

The rationalization of expenditures in the Ministry of Electricity and Water will delay the implementation of its future projects, particularly the ones that have yet to be decided, reports Al-Rai daily quoting Assistant Undersecretary for Operation and Maintenance of Power Stations Eng Foa’ad Al-Oun. Al-Oun pointed out the State’s rationalization policy has become a necessity, affirming this will not affect the existing projects especially those related to maintenance. He added the projected electricity production for the coming period is 15,000 megawatts while the expected consumption is 12,000 megawatts.

  The bank financing cost has increased by 2.750 percent in view of the continuous oil price slump and emergence of lack of liquidity indicators, reports Al-Qabas daily quoting sources. Sources revealed the banks presented various offers to governmental bodies such as higher deposit rates — 2.7 percent for one year, 2.4 percent for six months and 1.9 percent for three months. Sources said this comes parallel to the interests of inter-bank deposits during the last period — 0.750 percent per day, 1.125 percent per week, 1.5 percent per month, 1.750 percent for three months, two percent for six months and 2.250 percent per year.