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Friday , November 16 2018

Tag Archives: subsidies

Kuwait said to plan new $100bn sovereign wealth fund – Bid to rationalize subsidies

KUWAIT CITY, Jan 24: The government has announced its plan to establish a new sovereign wealth fund to manage State properties and investments in different vital projects and companies like electricity and water stations, reports Al-Anba daily quoting sources. Sources said the projected size of this fund is about $100 …

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Lift subsidies … Trust in Allah

IT IS now time for Kuwaitis to face the bitter reality. It is time for the government to stop using the tone of flattery in dealing with the worsening economic crisis that has been battering our country, just like other oil-producing countries which depended on oil as the only source …

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AMIR AFFIRMS MEDIA ROLE FOR UNITY, ECONOMY, GCC TIES – Cuts urged to cope with low oil price

KUWAIT CITY, Jan 20: His Highness the Amir has called for budget cuts and better management of spending to cope with declining revenues due to lower oil prices, state news agency KUNA said on Wednesday, in the second such call by HH the Amir since October. The remarks by Sheikh …

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Kuwait eyes domestic energy price reforms

ABU DHABI, Jan 19, (RTRS): Kuwait is considering several options for energy subsidy reforms but any possible rise in domestic prices would not impact citizens’ livelihood, the chief executive of state oil firm Kuwait Petroleum Corp said on Tuesday. Nizar Al-Adsani said “the Kuwaiti government is currently studying several options …

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No unilateral decision to be taken on economic reforms: Al-Ghanim

KUWAIT CITY, Jan 11: The government has no intention to issue one-sided decisions on lifting subsidies and the economic reforms that the State intends to implement will not affect ordinary citizens, says National Assembly Speaker Marzouq Al-Ghanim. Al-Ghanim revealed he had earlier met His Highness the Prime Minister Sheikh Jaber …

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Bahrain govt cuts petrol subsidies – Oman sets new gasoline, diesel prices

DUBAI, Jan 11, (Agencies): Bahrain on Monday announced a hike of more than 50 percent in petrol prices following its cut in subsidies for energy products as oil producing countries struggle with nosediving crude prices. The government said the price of regular petrol will increase Tuesday from 80 fils (20 …

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Decision to raise prices of fuel pushed back six months

KUWAIT CITY, Jan 7: The government has decided to suspend for six months its decision to raise the prices of fuel until report of the international consultancy firm Ernst & Young is finalized, as regards the implementation of comprehensive economic reform. In a press statement, reliable oil sources said that …

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Study on rationalization of ‘subsidies’ being reviewed

KUWAIT CITY, Jan 6: The study conducted by Ernst & Young on the rationalization of subsidies is being reviewed amidst public and parliamentary objections to the idea of increasing the price of fuel and fees for various services, reports Al-Anba daily quoting sources. Sources said those against the proposed price …

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‘Address Kuwait’s financial problems without touching pockets of citizens’

KUWAIT CITY, Jan 3: MP Fares Al-Otaibi has announced via Twitter his intention to submit an interpellation request against Deputy Premier, Minister of Finance and acting Minister of Oil Anas Saleh over the government’s intention to lift subsidies on some basic goods and services. Earlier, Al-Otaibi criticized Al-Saleh while he …

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Subsidies for next 3 years to cost KD 16 bln – Fuel price hike prescribed remedy for budget deficit

KUWAIT CITY, Dec 30, (KUNA): Undersecretary of Kuwait’s Finance Ministry Khalifa Hamada said Wednesday that the expected financial subsidy by the State for citizens is projected at KD 16 billion during the next three, in case the subsidy system remained unchanged. Khalifa added in an interview with Al-Qabas Arabic-language daily …

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