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Saturday , January 16 2021

MoCI cites 8 percent growth in revenues over previous yr

Total revenues amount to KD 15.3 million

KUWAIT CITY, Dec 22: The total revenues estimated by the Ministry of Commerce and Industry from rents, fines and fees for goods and services amounted to KD 15.3 million according to the summary of the final account of the Ministry for the 2017/2018 budget, reports Annahar daily.

The actual revenues recorded were KD 14.1 million and according to their allocations the high revenues amounted 9 percent in rents, 22 per cent in other income and 65 per cent in actual revenue on goods and services.

The positive results of the growth in revenues are due to the efforts of the Ministry’s staff which showed an increase of 8 percent over the previous year.

The annual report of the Ministry of Commerce and Industry for the year 2017, a copy of which has been obtained by the daily shows total estimated expenses amounted to 312.1 million dinars, while the actual expenditure amounted to 280.7 million dinars, a change of 10 percent compared with the budget 2016/2017.

The difference between expenditures rose by 40 percent to 200.5 million compared to KD 280.7 million in the budget of 2017/2018. Actual expenditures were distributed by 1 percent on goods and services, 16 percent on wages and salaries and 82 percent on subsidies and supplies.

In other news, amidst activities of unexpected administrative changes within the oil sector, in anticipation of what will result in the days of major changes, the Petrochemical Industries Company (PIC) issued 3 circulars to upgrade and rotate two managers, 4 team leaders and two advisers, reports Al-Anba daily.

The daily said Faris Saud Al-Faris has been transferred to the position of Director of Technical Services and returned to the Executive Vice President of the Fertilizer Sector.

Mohammed Ali Al Enezi is the Head of the Business Development Team and is responsible for overall planning and returns to the Director of Comprehensive Planning. Khalid Mohammed Al-Ajmi has been transferred to the position of Head of Human Resources Development Team and returned to the Human Resources Manager. Salem Mohammed Al Ajmi has been transferred to the position of Head of the Coordination and Follow-up Team for Human Resources and returned to the Human Resources Manager.

Ahmed Saleh Al Mulla has been transferred to the position of Technical Services Consultant and returned to the Executive Vice President of the Fertilizer Sector. Salah Saud Al-Kharji has been transferred to the position of Commercial Sector Advisor, and he returned to the Executive Vice President of the Fertilizer Sector.

The third circular said after reviewing the organizational and functional structures adopted by the company, the results of the tradeoffs of the jobs will be looked into according to the procedures for filling the posts in degrees (17 and above) in the oil sector, it was decided to appoint Ahmed Yousef Al- Rashdan as the Director of Business Planning and Control, Executive of the Olefins and Aromatics Sector. Salim Butai Al-Hajri has been appointed Head of the Human Resources Relations Team, in addition to his work as Director of Human Resources


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