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Tuesday , January 31 2023

Significant increase in Kuwait’s oil revenues becomes a priority

This post has been read 11034 times!

KUWAIT CITY, Oct 19: With the convening of the first session of the National Assembly (Tuesday), and coinciding with the significant increase in Kuwait’s oil revenues due to the Russian-Ukrainian war and the decision of “OPEC +” to reduce production to keep oil prices from falling, it becomes a priority to remind the MPs and citizens to adopt a balanced proposal that solves a problem and does not create bigger problems than that, reports Al-Qabas daily quoting economic sources.

Since most of the proposals of the popular representatives aim to satisfy the voters in an irrational manner most of the time, it becomes necessary for the citizens and their representatives to adopt balanced proposals that can actually be passed and approved and address their real problems with logic and realism, without creating a bigger problem for the citizens themselves in the future and whose cost may be very difficult to bear.

The following are some proposals that may represent viable alternatives to populist demands whose economic repercussions are dangerous and harm public money:

1 – Instead of the continuous demand to drop loans from all citizens that did not and will not pass in all cases, because they spend public money on those who need and those who do not need illogically, it is possible to demand the reactivation of the Insolvent Fund and the Family Fund to address the problems of citizens who are actually experiencing financial hardship because of their debts and its installments. Thus, we have contributed to solving a real problem without wasting public money by distributing it to those who need it and those who do not. Here it should be noted that wasting public money at the present time may prevent us from using it in the future to solve other existing problems that need money to solve.

2 – The constant complaints about high prices of commodities and random claims for distributions to citizens this time coincides with a global inflation wave whose effects cannot be avoided, even if our energy prices do not rise and even if there are controls on prices by the Ministry of Commerce and Industry and the regulatory agencies.

The best is to demand raising the cost of living allowance from 120 dinars to 250 dinars, for example, to benefit all employees and retirees citizens, especially the low salaried and pensioners, instead of the constant complaints and non-serious claims to solve this problem.

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