MP calls on financial bodies to adopt transparency principles

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KUWAIT CITY, Sept 17: MP Osama Al-Shaheen has attributed the lack of social and State advancement to the ambiguous reports and statistics that the Public Institution for Social Security (PIFSS) submits to MPs and financial supervisors, adding that this is the reason why the Parliament has been unable to lift injustice to retirees.

He regards the submission of ambiguous figures as a governmental maneuver to distract the supervising bodies, especially since the authority has repeatedly submitted visions and plans without presenting financial reports or statistics to justify its proposals.

“The government keeps on using the phrase ‘actuarial deficit’ in its dialogues with the Parliament,” the MP asserted while noting that whenever the government receives statistical queries, it responds by claiming the financial issue is complex that only a handful of experts around the world could understand and solve.

He said this is untrue as a number of national workers are more than capable of addressing such matters. Therefore, the MP called on all the financial authorities in the country to adopt and uphold transparency principles, and periodically present accurate statistics and financial reports to all supervising bodies, especially the Parliament.

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