Kuwait’s New Postal Company Law – What You Need to Know

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KUWAIT CITY, Nov 13: The acting Undersecretary of the Ministry of Communications Dr. Ahmad Al-Mijren says the ministry has completed preparing a draft law to establish the Kuwait Postal Company. In a press statement issued Sunday, Dr. Al-Mijren explained that the Council of Ministers approved the draft law establishing the Kuwait Postal Company, which the ministry finished preparing in coordination with the Fatwa and Legislation Department, which reviewed it and made comments on its first version until it was finalized in its final form.

On October 31, decision No. 218 of 2023 was issued for referring the draft law to the National Assembly. The company will be a public Kuwaiti shareholding company wholly owned by the state, with a capital of KD 50 million, and will enjoy an independent legal personality. It will carry out its activities and achieve its purposes in accordance with the provisions of this law and its statute and will be managed on a commercial and investment basis and supervised by the competent minister. The company’s purpose is to carry out all work related to postal services and related services inside and outside the country and to manage facilities and related businesses.

The law specifies the company’s capital with all its components, the number of shares, and the value of the share, in accordance with what will be stated in the company’s bylaws. This company will replace the postal sector in the Ministry of Communication within six months from the date of issuance of its statute. All of the rights of the postal sector shall be transferred to it, including the right to usufruct, rent, and the applicable contracts and agreements concluded by the sector with third parties. It bears all obligations of the sector and is fully responsible for them, and all transfer procedures are binding on all after the Council of Ministers approves the evaluation of real estate assets.

The purpose of this project is to develop postal services of all kinds, in addition to regulating the work of companies working in the field of mail by granting licenses to local companies to practice work in the field of mail in all its fields. Dr. Al-Mijren said the adoption of this law will help in the future to facilitate the follow-up of the work of companies operating in the field of mail, as well as ensure the ability to evaluate the quality of the services they provide to customers in accordance with the law and regulations issued by the concerned minister in order to implement the general policy of the postal facility in order to provide these services to the satisfaction of the beneficiaries.

By Mohammed Ghanem
Al-Seyassah/Arab Times Staff

This news has been read 616 times!