Shortly after liberation, a decision which totally lacked prudence, the wise government decided to fix the exchange rate of the dinar to what it was before Saddam’s occupation, which is 3.5 dollars per dinar, after its average rate was 2.5 during the seven-month period of the occupation.
As a result of that wrong decision, the treasury bore a loss of more than three billion dollars because the government was obliged to settle all its obligations at a high exchange rate instead of the price that almost everyone would accept, which was logical due to the huge increase in the cost of the liberation war.
Banks also had to transfer all residents’ account balances especially those who were prevented from returning, at an exchange rate of 3.5 dollars to the dinar instead of 2.5.
The government also decided at the time to drop all consumer and real estate loans from citizens whether to banks, private financial institutions, joint-stock companies, or the credit bank, and it could have gradually dropped a few installments from time to time.
The government also decided to grant everyone who had remained in Kuwait, regardless of gender, age, or position 500 dinars each, at a rate of 3.5 dollars to travel and entertain himself/herself, after his suffering.
Banks were also obliged to pay the interest on deposits of individuals and companies for the entire seven-month occupation, in whatever currency they were while they could have deducted 50%, for example.
The “generous government also decided to bear more than half of the debts of commercial banks from citizens and companies, and it was not obliged to do so.The government issued a decision after decision and tens of billions of dollars were lost in the joy of the liberation, and one month later, the citizens and the owners of companies wanted more and more.
Three decades have passed and the pages of the newspaper will not be sufficient to report the waste of tens of billions of dinars that happened during that time, but what happened was under the excuse that we have enough wealth.
Then, we and the entire world were plagued by Corona and the economies of the countries suffered, and oil prices collapsed, and with this the unjustified waste continues and we discovered overnight that the state’s reserves had evaporated, and that the government was forced either to resort, as usual, to withdraw from the reserves of future generations, or borrow from the two markets — local and international — to pay the huge salaries and the rest of the exorbitant state expenses, and its urgent need for more than $70 billion.
In the midst of this deficit, the government decided to waste nearly five billion dollars on matters that are neither important nor necessary or urgent.
In order to follow up on the last of those payments related to the scandal of paying 600 million dinars (two billion dollars) to the so-called front liners, we call on His Highness the Prime Minister, and from the bottom of our hearts to stop the disbursement of rewards for the front lines as it is a big lie and a clear scandal, and it should not pass.
It only means theft of state funds, and corruption because tens of thousands of citizens will obtain the reward unlawfully. It will inevitably be the straw that will break the back of any believer that Kuwait is fine and that its future will be better than its present.
Your Highness, Prime Minister, we share the pain of the doctor who worked as a volunteer for six months at Jaber Hospital, and who refused to receive a handful of dinars as a reward for him, knowing that it would inevitably be lost on trivial matters, demanding, instead, his right to a medal from the state to be proud of in front of his children and grandchildren, forever.
Will you, Your Highness feel his pain and fulfill his hopes?
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