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Tuesday , November 20 2018

Tag Archives: subsidies

DARK ECONOMIC SITUATION AWAITS INACTION – Time up to carry out economic reforms: World Bank to Kuwait

KUWAIT CITY, Dec 28: The issue of streamlining expenditure and cutting down subsidies has resurfaced after the recent report of government’s financial consultant, Earnest & Young, and the visit of President of the Executive Board of World Bank Dr Merza Hassan who met with the Parliament Speaker Marzouq Al- Ghanim. …

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‘Electronic Media Law aims to regulate work in the field, not to create chaos’ – MPs voice objection to ‘subsidies cut’

KUWAIT CITY, Dec 28: Education and Guidance Affairs Committee Chairman in the National Assembly MP Ouda Al- Ruweie said the Electronic Media Law aims to regulate work in the field rather than creating chaos as it is happening now in light of the large number of websites. He argued this …

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KUWAIT CITY, Dec 23: Several lawmakers have criticized the government’s plan to lift subsidies on several key commodities and services as part of its austerity measures, while stressing the need to find alternative sources of income rather than implementing this plan which will negatively affect the living conditions of citizens. …

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Some MPs express objection to govt’s plan to remove fuel subsidy

KUWAIT CITY, Dec 15: Some lawmakers have expressed objection to the government plan to remove fuel subsidy by early next year, as they consider the decision a sign of government failure in resolving problems the citizens face, especially low income earners, reports Al-Anba daily. MP Abdul-Rahman Al-Jeran wondered about the …

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Subsidy cuts on petrol to hurt citizens, expats – Smart ID holders to benefit

KUWAIT CITY, Dec 13: Subsequent to announcement by the Ministry of Finance few days ago, which confirmed that government will first lift subsidy from petrol and gradually include other commodities, government sources have said the system of preserving subsidy on petrol will be applied through civil ID to guarantee the …

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‘Subsidy cut on 17 commodities to be implemented in this fiscal year’ – GMRP eyes to transfer 59,000 Kuwaitis from public to private sector

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 …

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Kuwait, Gulf warm to subsidy cuts – MP URGES MEASURES TO CURB IMPACT OF OIL PRICE DROP

KUWAIT CITY, Dec 7: Kuwait’s government is showing a willingness to push forward fiscal reforms including subsidy cuts needed to support its currency in an era of low oil prices, a senior IMF official said. Gulf states, including Kuwait, traditionally relied on petrodollar revenues to fuel public sector spending and …

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High-earners may lose ration card ‘privilege’

KUWAIT CITY, Nov 28: In the process of streamlining expenditures to cover about KD 7 billion budget deficits, the Council of Ministers in a matter of days will begin to approve some economic procedures to support revenues. The procedures will include cutting down the rate of subsidies on oil products, …

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MP slams ministry for failure to control hike in goods rates – ‘KD 28,000 monthly salary and govt subsidy too’

KUWAIT CITY, Nov 24: MP Faisal Al-Kandari has criticized the Ministry of Commerce and Industry for its alleged failure to control prices of consumer goods, stressing the need for everyone to stand firm against the unjustified price hikes. He called for intensified efforts to control prices, especially since the Ministry …

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‘Diversify to cut budget deficit’ – Subsidies will not be slashed: MP

KUWAIT CITY, Oct 4: Chairman of the National Assembly’s Financial Affairs Committee MP Faisal Al- Shaye said the committee next week will submit a number of draft laws that are aimed at reducing the budget deficit, reports Al-Rai daily. He added the government will do whatever necessary and take appropriate …

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