PAI loses KD 1.14mn in lawsuit filed by investor

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KUWAIT CITY, Feb 28: An investor has secured a significant victory with a new final ruling against the Public Authority for Industry, amounting to 1.14 million dinars. This ruling adds to a series of recent judgments issued against the Authority, reports Al-Jarida daily. Legal sources were astonished at the substantial size of these rulings and compensations, which are shouldered by the public. They emphasize the necessity for a thorough review of the Authority’s financial procedures and its core role in fostering and strengthening the industrial sector. Enhancing the sector’s exports and addressing the needs of serious stakeholders are deemed vital for generating revenues.

The ruling highlighted that damages were meticulously estimated by a committee of experts, with the assistance of knowledgeable professionals. Both the Court of First Instance and the Court of Appeal were satisfied with the assessments, deeming further expert consultations unnecessary. The court stressed its discretion in following up on opponents’ arguments, emphasizing its commitment to the truth supported by presented evidence, which serves as an implicit response that overrides other claims. On a broader note, the Industry Authority is recognized as a pivotal entity within the economic framework, yet it has faced operational challenges for years. Urgent appointment of a competent director-general is deemed essential to address pending issues and manage matters entailing fines, thereby alleviating the burden on public funds.

This news has been read 1068 times!

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