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
 Oct 4 2015 - Qatar's Central Bank governor cuts hopes of rate hikeMENAFN
(MENAFN) Qatar's central bank governor sought to cut expectations for rising interest rates after a jump in local bill yields suggested liquidity in the Qatari banking system was beginning to ...

 Oct 4 2015 - Jordan- UAE delegation visits the Mrajeeb Al Fhood campJordan News Agency
(MENAFN - Jordan News Agency) A delegation from the UAE Ministry of Development and International Cooperation visited on Friday the Mrajeeb Al Fhood camp for Syrian refugees to check on services ...

 Oct 4 2015 - Russian airstrikes in Syria will strengthen Daesh, ObamaJordan News Agency
(MENAFN - Jordan News Agency) US President Barack Obama said on Friday that Russia's airstrikes in Syrian that started last Wednesday, will ultimately empower Daesh terrorist group.Speaking from the ...

 Oct 4 2015 - Jordan- Border guards receive 209 new Syrian refugeesJordan News Agency
(MENAFN - Jordan News Agency) A total of 209 Syrian refugees from various age groups, entered the Kingdom through various crossing points during the last 72 hours, according to a military source on ...

 Oct 4 2015 - Israeli forces kill Palestinian young man in JerusalemJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces Sunday morning shot dead a Palestinian teen near Damascus Gate in occupied Jerusalem.Eyewitnesses said that Israeli forces opened fired on 19 ...

 Oct 4 2015 - Israel prevents Palestinians from entering JerusalemJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation police on Sunday banned Palestinians from entering the old city in East Jerusalem for two days, after two attacks against Israelis occurred in less ...

 Oct 4 2015 - First Gulf offers start-up financeThe Arabian Post
(MENAFN - The Arabian Post) FGB claims to be the first bank in the UAE to offer a one-stop financing solution to start-ups. The bank's new 'Startup Proposition' offers new businesses a range of ...

 Oct 4 2015 - Dubai Holding net up 24% to AED2.6bThe Arabian Post
(MENAFN - The Arabian Post) Dubai Holding Commercial Operations Group (DHCOG) announced a net profit of AED 2.6 billion for the first half of this year ending 30th June 2015, an increase of 24 ...

 Oct 4 2015 - Qatar to improve rank in Competitiveness Index-QBAThe Peninsula
(MENAFN - The Peninsula) Sheikh Faisal bin Qassim Al Thani, the Chairman of the Qatari Businessmen Association (QBA) in press conference said that Qatar's economy is moving in the right direction and ...

 Oct 4 2015 - Mall of Qatar signs mega deal with Alshaya to open 30 storesThe Peninsula
(MENAFN - The Peninsula) Qatar's largest leisure, entertainment and shopping complex, Mall of Qatar has signed a leasing agreement with M.H. Alshaya Co., one of the world's leading retail franchise ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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