KUWAIT CITY, Jan 20: There is no intention to cancel the annual increments for the employees of the oil sector, reports Al- Nahar daily quoting sources from the oil sector. They stressed that the circular issued by the Kuwait Petroleum Corporation (KPC) is related to delay in the disbursement of the increments until end of the current fiscal year. The sources explained that the increments are usually disbursed at the end of every year.
However, the disbursement this year has been postponed to the start of the next fiscal year, which starts in April every year. The maximum increment for this sector will be around 7.5 percent instead of 9 percent. The officials’ bonus has been reduced from 9 percent to five percent, which can save millions of dinars, considering the fact that the bonuses of the officials are higher than that of the employees of the sector.