19/01/2026
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19/01/2026
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KUWAIT CITY, Jan 19: In three consecutive installments, Kuwait Oil Company (KOC) managed to fully clear its outstanding debt to the Ministry of Electricity, Water, and Renewable Energy (MEWRE), which had reached approximately KD 270 million. According to informed sources from MEWRE, the payments were made according to a schedule agreed upon by both parties, as part of ongoing financial coordination between government entities.
The settlement enhances financial stability and ensures timely payment of outstanding dues owed to MEWRE. KOC’s full repayment affirms its commitment to fulfilling its obligations to government entities and supports MEWRE’s efforts to enhance cash flow efficiency, particularly amid ongoing expansions in infrastructure and the energy sector.
The payment mechanism was established following a series of joint meetings aimed at regulating financial dues between government entities and ensuring sustainable cash flows without accumulating debt, which is a policy consistently applied by MEWRE to all consumers.
This step is part of a wide government initiative to address mutual debts among agencies and institutions and to uphold the highest standards of financial discipline. It aims to optimize the use of public resources and prevent the buildup of outstanding debts in the future. The ministry affirmed its commitment to continuously updating billing and collection systems for all consumers, including oil companies.
It is upgrading its processes to keep pace with the latest technology, ensure timely payments, and prevent the emergence of new debts. Meanwhile, the sources confirmed that the ministry is currently awaiting approval from the relevant authorities to deposit funds from the “Hafiz” program into the accounts of eligible subscribers. Deposits are expected to begin after the first week of February. They revealed that 1,861 accounts will benefit from the electricity incentives, while 2,937 accounts will receive water incentives.
The sources revealed that the total number of subscribers registered in the program from 2021 until January 11, 2026, reached 9,310, with 19.99 percent eligible for the electricity incentive and 31.55 percent eligible for the water incentive. They confirmed that participation in the “Hafiz” program is low compared to the total number of customers, highlighting the program’s importance in reducing energy consumption while helping customers save on their bills.
The sources highlighted that participants are also entitled to rewards calculated as a percentage of their savings, adding that these rewards can reach over 40 percent for electricity and 50 percent for water and are deposited directly into customers’ accounts. They urged customers to register for the program and encouraged wider participation, noting that the ministry is working to attract as many customers as possible to ensure that conservation becomes a common practice, bringing substantial benefits to all participants.
By Mohammad Ghanem Al-Seyassah/Arab Times Staff
