Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - MP 'withdraws' plan to grill oil min spotlight on finance   Join our daily free Newsletter

MENAFN - Arab Times - 23/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) MP Riyadh Al-Adsani praised Minister of Oil Dr Ali Al-Omair for the steps he has taken to resolve the issues the lawmaker raised earlier. Al-Adsani said he will no longer push through with his plan to submit an interpellation request against the minister due to the latter's cooperation. He confirmed the minister had stopped violations in the distribution of farm lands, took the necessary legal procedures against erring officials, and answered his queries on the Dow Chemical and diesel theft/spillage issues. He added the minister deserves praise as he proved his willingness to cooperate by taking these steps.



He explained that his threat to submit an interpellation motion against the minister was merely a supervisory maneuver aimed at ensuring everything is running on the right path. He asserted hostility through interpellations was never his end-goal as he merely wanted to protect public interest and put a stop to violations by activating the minister's supervisory role over officials who cause harm to the government and public funds. He added he gave the minister three days to correct the errors and since the minister has cooperated with him, his interpellation threat has been rendered unnecessary. "We should not stop here, as the necessary follow-up steps must be taken to ensure supervision over officials who squander public funds," he concluded. Meanwhile, the attention of some MPs has been directed at the minister of finance in the past couple of days due to numerous violations in authorities and companies.



MP Faisal Al-Kandari explained the reason behind the amendments to the defaulters and family fund laws is to ease the financial burden of Kuwaitis who are in debt. He attributed the problem to the government's poor supervision over banks; consequently forcing the Assembly to shed more light on this issue to ascertain full compliance with the law among the banks. He also affirmed that the mistakes committed from 2002 to 2008, the period which led to the issue, will not be repeated; warning the repercussions will be severe if the minister fails to implement the amendments and maintain constant and strong supervision over banks



On the other hand, MP Hamdan Al- Azmi claimed the financial violations continue to spread within the management of National Offset Company (NOC) despite the numerous complaints sent to its higher management. Adding that violations and irresponsible decisions continue to spread while complaints and notices are being disregarded, the MP also mentioned the State Audit Bureau (SAB) had previously presented several reports which condemn NOC, as well as notices regarding its violations; but no one has done anything to correct these violations. Moreover, the MP wondered why there has been no initiative from the company officials or the government in terms of correcting millions of Kuwaiti dinars worth of violations. He urged the minister to clarify why he has not taken any action regarding this issu


 


Arab Times




  MENA News Headlines
 Nov 24 2014 - Pharrell joins line-up for New Years Eve bash in DubaiKhaleej Times
(MENAFN - Khaleej Times) The multiple Grammy award winner is just one of a handful of artists set to take part in the show that will be broadcast live to more than 130 countries. It’s fair ...

 Nov 24 2014 - UAE- Why Aniston is one up on Kim KardashianKhaleej Times
(MENAFN - Khaleej Times) Aniston who posed nude for Rolling Stone magazine in 1996 says I was an original. Shunning the hype around reality TV star Kim Kardashian’s derriere picture Jennifer ...

 Nov 24 2014 - UAE- Football legend Gary Lineker on playing presentingKhaleej Times
(MENAFN - Khaleej Times) England football ace Gary Lineker reveals his tricky transition from playing to presenting and why hes envious of the modern game. As an English person meeting Gary ...

 Nov 24 2014 - Algerian Prime Minister Leaves DohaQatar News Agency
(MENAFN - QNA) Algerian Prime Minister Abdelmalik Sellal left Doha on Monday, wrapping up an official visit to the country.      Sellal was seen off upon departure at Doha International Airport by ...

 Nov 24 2014 - Oman Oil subsidiaries sign USD44.15m deals with SMEsMENAFN
(MENAFN) Oman Oil Company's (OOC) said that its subsidiaries and affiliates have signed 35 contracts with local Small and Medium Enterprises (SMEs), with an estimated worth of USD44.15 million, Times ...

 Nov 24 2014 - Kuwait's exports of crude oil to China hit 27.8 percent growth in OctMENAFN
(MENAFN) Kuwait's crude oil exports to China grew 27.8 percent in October from a year earlier to 986,000 tons, equivalent to around 233,000 barrels per day (bpd), data showed, QNA reported.Kuwait's ...

 Nov 24 2014 - GCC petrochemical revenue hits USD89.4b In 2013MENAFN
(MENAFN) According to the Gulf Petrochemicals & Chemicals Association (GPCA), GCC's petrochemical industry posted USD89.4 billion in revenue in 2013, increasing by USD6 billion compared with 2012's ...

 Nov 24 2014 - Oman considers spending cuts, raising taxMENAFN
(MENAFN) Oman's government is reportedly considering spending cuts and raising taxes, including the tax on liquefied natural gas exports, as the Gulf country attempts to deal with the drop in its ...

 Nov 24 2014 - Qatar's Rolls Royce sales up 37 percent in Q3MENAFN
According to Rolls Royce, Qatar has become the fastest growing market for the car manufacturer in the Middle East, after it has registered an increase by 37 percent in sales during the July-September ...

 Nov 24 2014 - Saudi quarry production to reach 327m in 2014MENAFN
(MENAFN) The GCC construction sector has been steadily growing for the last two decades led by the United Arab Emirates (UAE) and Saudi Arabia, which resulted in Saudi deciding to increase its quarry ...

more...


 






Google

Click to Apply

 
 

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