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Wednesday , January 29 2020

Study on for Petrol ‘rise’

KUWAIT CITY, Oct 25: A proposal is being currently studied to increase the prices of petrol by 70 to 90 percent, reports Al- Qabas daily quoting reliable financial sources.

The same sources said a special committee has been formed to study the possibility of reducing subsidy gradually to bring the prices of petrol in line with the international standard. However, other sources warned against hiking the prices and not to repeat the scenario when the government reduced subsidy on diesel.

In the same context, sources said that whatever procedures the government will adopt, the prices of services provided to citizens and residents will not be affected, according to Al- Anba daily.

For his part, the Undersecretary of the Ministry of Finance Khalifa Hamada said the project of re-pricing  charges of services takes nearly three years. He clarified the ministry had signed a contract with one of the international consulting offices to conduct and finalize a technical study in this regard one year ago and two years are still remaining to finalize the project.

Meanwhile, MP Sultan Al-Leghaisam quoting HH the Prime Minister Sheikh Jaber Al-Mubarak said the citizen will not have to dig deep into his pocket in what appears to appease the citizens. He emphasized when any decision is taken, HH the Prime Minister takes into account the concerns of the citizens and prioritizes the level of public services provided to them.

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