Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Expats may face subsidies loss in switch to allowances for Kuwaitis   Join our daily free Newsletter

MENAFN - Arab Times - 25/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) The government has been contemplating on the possibility of eliminating subsidies deemed unnecessary and a wastage of public funds. This step appears like an application of the Newton Law: "For every action there is a reaction", in view of the pressure mounted by the Parliament to ensure passage of the proposal to increase the children and rent allowances in line with the idea presented by the Finance Committee in the last session



According to a lawmaker who requested for anonymity, the Ministry of Finance has been carrying out comprehensive review of the best alternatives to suit recommendations from the National Assembly; especially the children and rent allowances. He hopes the government will present the alternatives to the National Assembly on March 2



Meanwhile, a reliable source revealed the current review being carried out by the government will reveal information which will be used to question the continuity of unjustified subsidies. He said the new mechanism will not affect the low-income earners and the rightful beneficiaries of subsidies. He claimed some people, who are not entitled to the subsidies, are benefiting from them. He explained the subsidies are supposed to assist citizens; but they instead go to other segments that have become a burden to the national budget, especially the subsidies for certain services like electricity, water, fuel and basic commodities



He affirmed the government will present clear proof to the National Assembly to support its argument that continuing the current mechanism for expenditures will lead to a budget deficit by 2017. He warned the scenario might lead to difficulties in the payment of salaries, so the country must quickly find alternatives considering the possible decline in the prices of oil soon




 


Arab Times




  MENA News Headlines
 Apr 1 2015 - India is least E-Commerce Friendly, Says UNCTADKNN India
(MENAFN - KNN India) India is one of the fastest growing e-commerce markets in the world, but the country's online retailing infrastructure is struggling to keep up. According to a new index compiled ...

 Apr 1 2015 - Al Qassimi takes 5th place in 1st leg of Abu Dhabi Desert ChallengeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Sheikh Khalid bin Faisal Al Qassimi, Abu Dhabi Racing Chairman, came in 5th overall on the first day of the Abu Dhabi Desert Challenge. Al Qassimi set a ...

 Apr 1 2015 - ADOR storms around Cape HornEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Abu Dhabi Ocean Racing (ADOR), the emirate's entry in the Volvo Ocean Race (VOR), has safely rounded ocean racing's most treacherous landmark - Cape Horn at the ...

 Apr 1 2015 - Alitalia and Etihad Airways support Expo Milano 2015 'Made Of Italians' programmeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) As Official Global Carriers of Expo Milano 2015, Alitalia and Etihad Airways will support the upcoming event's 'Made of Italians' programme by offering exclusive ...

 Apr 1 2015 - Abu Dhabi Chamber discuss expanding economic relations with SloveniaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The Abu Dhabi Chamber of Commerce and Industry today received a trade delegation from the Republic of Slovenia which included representatives of 30 companies and ...

 Apr 1 2015 - OPEC daily basket price for Tuesday, 31st March 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The price of OPEC's basket of twelve crudes stood at US$51.06 a barrel on Tuesday, compared with US$51.45 the previous day, according to OPEC Secretariat ...

 Apr 1 2015 - Saudi Defense Minister receives two messages from Sudanese PresidentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Prince Mohammed bin Salman bin Abdulaziz, Minister of Defense, Chief of Royal Court, and Special Advisor to the Custodian of the Two Holy Mosques, has received ...

 Apr 1 2015 - UAE Banks Federation partners with SWIFT to lead discussion on global financial crime regulationsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The Society for Worldwide Interbank Financial Telecommunication, SWIFT, has joined the UAE Banks Federation to bring together senior representatives from ...

 Apr 1 2015 - UAE Ambassador, Somalia's Minister for Higher Education discuss cooperation relationsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Mohammed Ahmed Othman Al Hammadi, UAE Ambassador to Somalia, and Somalia's Minister for Higher Education, Khadra Bashir Ali, have discussed ways to boost ...

 Apr 1 2015 - 1000 people of different nationalities including Emiratis registered for smart gate service of GDRFAEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) As many as 1000 people of different nationalities including Emirati citizens have applied at the smart gate service during the Dubai government achievement ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help