Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Dire read on finances delays subsidies  Join our daily free Newsletter

MENAFN - Arab Times - 02/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) The Parliament has approved the request of the government to postpone deliberations on the reports of the Financial and Economic Affairs Committee about the child and rent allowance increment bills until the next legislative round. This gives the government another chance to present a comprehensive vision on the bills; including the strategic alternatives to address the salary scale issue



The decision was taken in a closed-door session Tuesday, during which the Ministry of Finance presented a report on the financial status of the State to the Parliament to show how bad the situation has become due to the financial support granted to citizens



Earlier, the Parliament agreed to postpone until Wednesday the discussion on some items on the agenda like the questions and incoming letters to focus on the children and rent allowance, as well as the support for workers



The Parliament then endorsed the request of Finance Minister Anas Al- Saleh to hold a closed-door session, in accordance with Article 150, to discuss the Financial Committee's report on the financial status of the State. After the closed-door session, the Speaker addressed the audience to inform them about the decision that is aimed at ensuring fairness among all citizens



Meanwhile, Chairman of the Financial and Economic Affairs Committee Faisal Al-Shayei explained the Assembly voted in favor of the postponement request - 40 out of 49 members. The decision has drawn mixed reactions from the MPs. Some expressed resentment as they expected passage of the bills to help citizens cope with the rising cost of living; while others agreed with the government that implementation of the proposals might be risky for the national treasury



Al-Shayei said the report presented by the finance minister on the financial status of the country was alarming, particularly since the figures showed the financial situation will be very difficult in the coming years if unnecessary expenditures continue. He proposed a thorough review on the overall expenditure, especially the budget allocated for supporting citizens like the power and fuel subsidies. He asserted there is nothing wrong in looking after the welfare of citizens provided it does not negatively affect the State budget. MP Abdul Hameed Dashti added the government presented alarming figures on the financial status of Kuwait. As much as he wants to reveal these figures to the public, he will not do it because he respects the agreement to ensure confidentiality of discussions behind closed doors. He pointed out the government wants to send a clear message on the financial state of the country and the Parliament must cooperate with it in rationalizing spending in order to stop the wastage of public funds. He added, "We want the citizens to feel sustainability of the welfare State and its continuity is possible if the rationalization of spending is done. We must limit our expenditures and wean ourselves off complete reliance on oil as the only source of income. It is unacceptable that some people want to eliminate government subsidy by demanding increase in the children allowance." On the other hand, MP Riyadh Al-Adsani expressed resentment over what he considers inability of the legislature to approve the proposal to increase the children allowance by agreeing to postpone discussions in this regard. He said the government keeps on complaining about depletion of State budget, considering the proposed increment is only KD15; yet it does not use the same excuse in supporting private projects. He asked, "If there is a budget deficit, why does Kuwait continue to donate to other countries? We cannot say Kuwait's economy is free, if we do not stop monopoly"



Inaccurate

He argued that based on the information given by the Civil Service Commission (CSC), if the increase is calculated from the newborn babies up to those aged 24 years; the total will be 705,000 citizens and the cost for granting the KD25 increment will not exceed KD211 million. He claimed the Finance Ministry presented inaccurate figures in its report on the financial status of the nation. He said a country which talks about budget deficit will not donate to its neighbors as the priority should be given to its people. "If the government fears the possibility that the increment will lead to higher cost of living; then it should strictly apply the law, control prices, activate its commercial oversight role and stop monopoly," he concluded. MP Hamdan Al-Azmi blamed some of his colleagues who approved the request, alleging the government does not fulfill its promises; hence, it cannot be trusted to push for approval of the bill in the next legislative round. In the meantime, the Parliament approved the Public Telecommunications Authority Bill in its second reading. During discussion on the bill, MP Adel Al-Kharafi pointed out that one of the most important amendments is the article stipulating seven members of the board as four of them will be delegated to the authority and the remaining three will specialize in the field of telecommunications. The Assembly was supposed to move onto the next item on the agenda - the establishment of a management judicial court, but it was postponed until the next session due to the absence of the minister of justice

 


Arab Times




  MENA News Headlines
 Oct 30 2014 - UAE- Hawaii lava flow reaches home threatens townKhaleej Times
(MENAFN - Khaleej Times) Red-hot lava from a slow-erupting volcano has reached a home on Hawaiis Big Island and is threatening an entire town emergency officials said Tuesday. The lava flow from ...

 Oct 30 2014 - UAE- Slow-moving lava creeps closer to Hawaii homesKhaleej Times
(MENAFN - Khaleej Times) A branch of the molten stream was less than 100 yards (90 meters) from a two-story house.This photo provided by the US Geological Survey shows the lava flow from Kilauea ...

 Oct 30 2014 - UAE- Mudslide buries Sri Lanka tea labor quartersKhaleej Times
(MENAFN - Khaleej Times) The military has mobilized troops to help in the rescue operations. Colombo Sri Lanka: A mudslide in central Sri Lanka has buried several rows of workers’ houses at a ...

 Oct 30 2014 - UAE- 10 people killed 200 missing in Sri Lanka after mudslidesKhaleej Times
(MENAFN - Khaleej Times) A local hospital source said that two men and a woman rescued from the mud had been brought in for treatment. Colombo: Around 200 people were reported missing and 10 ...

 Oct 30 2014 - UAE- Heavy rains continue in Telangana two deadKhaleej Times
(MENAFN - Khaleej Times) Two women both sisters were washed in the swirling waters of a rivulet near Madgula village in Guntur district of Andhra Pradesh as heavy rains caused by Cyclone Nilofar ...

 Oct 30 2014 - UAE- Magnitude 6.1 earthquake hits near Samoa: USGSKhaleej Times
(MENAFN - Khaleej Times) A police spokeswoman in the capital Apia told Reuters by telephone that the quake had not been felt in the city and that she was unaware of any damage. Sydney: A 6.1 ...

 Oct 30 2014 - Ottawa shooting was madmans last desperate act says motherKhaleej Times
(MENAFN - Khaleej Times) Susan Bibeau said her estranged son had wanted to travel to Saudi Arabia to study Islam and the Quran not Syria to join militant fighters. Michael Zehaf-Bibeau killed by ...

 Oct 30 2014 - UAE- Kidnapped women used by Boko Haram on front line: Rights groupKhaleej Times
(MENAFN - Khaleej Times) Suspected militant fighters kidnapped about 30 children including girls as young as 11 in Borno state at the weekend. Lagos: Boko Haram has used kidnapped young women and ...

 Oct 30 2014 - Ottawa gunman made video before attack: PoliceKhaleej Times
(MENAFN - Khaleej Times) Michael Zehaf-Bibeau who was shot dead by police in the parliament in Ottawa after killing a soldier Wednesday was mentally ill and wanted to die his mother wrote in a ...

 Oct 30 2014 - UAE- Nepal bus crash kills 14 injures dozens: PoliceKhaleej Times
(MENAFN - Khaleej Times) Among those killed Friday were two people including a woman who was part of a group heading to the Langtang trekking area. Katmandu: A Nepal bus packed with people ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help