Sources cite importance of activating privatization program
KUWAIT CITY, Dec 20: A number of labor unions have expressed support for the parliamentary bill on amending Articles 51 and 70 of Private Sector Labor Law number 6/2010, reports Al-Anba daily. Chairperson of Oil and Petroleum Industries Workers Confederation Muhammad Hamad AlHajri praised the bill as it cuts the way for employers who deprive workers of their rights under the pretext that some articles of the law are ambiguous.
This came after Al-Hajri attended the meeting of the parliamentary Health and Social Affairs Committee, which listened to the suggestions of the representatives of labor unions. On the other hand, Assistant Secretary of Kuwait Oil Company Workers Union Abbas Awad said the MPs have a vision to support workers. He disclosed the proposed amendment of Article 70 stipulates that Saturdays are part of the weekend holidays, so Saturdays will be added to the annual leave balance of the workers in case the employers do not give them as weekly days off. Vice Chairman of Kuwait Trade Union Federation (KTUF) Ahmed AlDaihani affirmed that he supports the proposal, disclosing KTUF called for amendment of Article 70 of the Labor Law and Article One of law number 110/2014.
In other news, It looks like the special working paper that the banks are seeking to prepare to submit it to the concerned parties will not only limit the importance of activating the privatization program, since it is clear that the banking vision about moving the local economy involves more than one treatment, reports Al-Rai daily.
In this regard, official sources told the daily that the banks believe that moving the local economy requires the support of the concerned government agencies, particularly the Kuwait Investment Authority, the Public Institute for Social Security and other institutions that invest their funds, to look at the local market with the same investment considerations that it leads particularly the foreign markets in which they invest, and seize appropriate opportunities with economic indicators. The sources added that the banks will emphasize in their paper the importance of the government to reorient the strategy of its various investment tools, ensuring that its focus on the domestic market, and treated at least as foreign markets that invest in, based on economic indicators, and not support.