publish time

29/09/2023

author name Arab Times

publish time

29/09/2023

KUWAIT CITY, Sept 28: Despite the huge boom in the collection of revenues and debts owed by consumers following the establishment of the electronic interfaces between the Ministry of Interior and the service ministries, informed sources revealed an expected deficit in the budget of the Ministry of Electricity and Water amounting to KD 3.394 billion during the current fiscal year.

They stressed that the reason behind the deficit is the widening gap between total expenditures estimated at approximately KD 4.113 billion, and revenues estimated at approximately KD 719 million for selling electricity and water services and supplying electricity to the new plots. The sources called for the need to stop the bleeding of funds directed to support electricity production on an annual basis, represented by the value of oil and lubricants used to operate electricity and water production plants. It amounted to KD 2.917 billion in the current budget, which is an increase of KD 788 million compared to last year’s budget of KD 2.129 billion under the item of “commodities and services.”

They stressed the need to approve the law to transform the Ministry of Electricity, Water, and Renewable Energy into an institution that has been locked up for more than six years and has not seen the light of day yet. The sources said transforming the ministry into an institution will enable the latter to establish companies and participate in the capital of companies related to achieving its goals. They explained that they were surprised by the ministry’s slowness in completing a consultancy exercise related to the restructuring of its various sectors. The consultant was scheduled to prepare documents related to transforming the ministry into a public institution that includes a number of sectors responsible for companies under the supervision and follow-up of the institution. The initial vision for the exercise includes the production and transmission of energy and water and the collection of fees for the services provided by the ministry through companies.

By Mohammed Ghanem
Al-Seyassah/Arab Times Staff