KUWAIT CITY, Dec 12: High-ranking sources from the Ministry of Finance have said the decision to reduce subsidy on 17 commodities, including fuel, will be implemented in the current fiscal year (2015-2016) to increase non-oil revenue.
The source stated that government has requested “Ernest & Young” to expedite and present its report concerning the reduction of subsidy within two weeks instead of the previously agreed appointment of April, next year.
Meanwhile, sources close to the Ministry of Finance have urged government bodies to expedite accumulated fees collection on citizens and residents after the fall back of the revenue collected in the past eight month to KD 790 million compared to the plan of collecting non-oil revenue of KD 1.89 billion by the end of this month (December).
The sources added that the Ministry of Finance has finished preparations to issue bonds if the need arises, but it did not specify the announcement date of the sale of the bonds.
Meanwhile, the Government and Manpower Restructuring Program (GMRP) has been considering the need to transfer 59,000 Kuwaiti employees from public sector to private sector by 2030, reports Al- Qabas daily.
The daily quoting a source added the number represents a quarter of the total public sector employees calculated at 238,000—according to Civil Service Commission statistics.
He also said the program has set its consultative plan stretching to 2030 to prepare the national manpower, indicating the plan will increase national products and provide job opportunities to reduce unemployment.
He stressed the program targets an estimated 10,000 jobless individuals for various training programs. It will ensure they are placed in the private sector to contribute to national economic development instead of joining the world of willing idleness in public sector. He reiterated the program will use various training activities to encourage students to seek employment in private sector.
By Abdullah Othman and Fares Al-Abdan Al-Seyassah Staff