Social allowance eyed for employees of state-owned companies

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KUWAIT CITY, Dec 7: The Council of Ministers has instructed the Public Authority for Investment to proceed with the establishment of a closed government joint stock company, to establish, manage and operate public storage areas for foodstuffs, medicines, medical supplies and others, provided that no exit from this company or any actions that would prejudice the percentage of full ownership of the state in it except after recourse to the Council of Ministers and to coordinate with the Kuwait Ports Authority to study entering into a partnership with the company to be established, reports Al-Qabas daily. The Minister of Finance has a mandate to quickly amend Ministerial Resolution No. 40 of 2016 to issue a regulation for the usufruct fee for state private real estate property and service fees, allowing fully state-owned companies to be exempted from paying usufruct fees and established service fees.

The government decided to amend Cabinet Resolution No. 891 of 2001 regarding “granting social allowance and children’s allowance to owners of professions and crafts and workers in non-governmental agencies,” by adding the category of “workers in wholly state-owned companies,” and all decisions contrary to that are cancelled.

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