(MENAFN- Kuwait News Agency (KUNA)) Kuwait's National Assembly (NA) committee on financial and economic affairs on Sunday approved an act on the privatization of Kuwait Airways Corporation (KAC).
Under the act, KAC will transform into a shareholding company, rapporteur of the committee Safa Al-Hashem told reporters after the committee's meeting, which was attended by Communications Minister and Minister of State for Housing Affairs Salem Al-Utheina and KAC Board Chairman Sami Al-Nisf.
"The approval was taken after both the Minister and KAC Chairman gave written statements obliging them to present a three-year action plan," Al-Hashem noted, adding that related issues discussed in the meeting also included KAC's rundown fleet, accidents, malfunctions, delays, as well as employees financial benefits.
Meanwhile, chairman of public utilities' committee, MP Ali Al-Omair, said that the committee approved amendments to Act 27 for 2012 on private sector contribution in constructing on state-owned land plots for housing welfare purposes.
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