Kuwait- MP urges government to follow gasoline price cuts| MENAFN.COM

Thursday, 08 December 2022 12:02 GMT

Kuwait- MP urges government to follow gasoline price cuts

(MENAFN- Arab Times) KUWAIT CITY, July 8: 'Some Gulf countries have reduced gasoline prices and we are waiting for Kuwait to take a similar step in order to restore the prices as they were a year ago,' says MP Waleed Al-Tabtabaei.

In a press statement, Al-Tabtabaei disclosed the Sultanate of Oman and United Arab Emirates decided to reduce gasoline prices and the Kingdom of Saudi Arabia intends to take the same step soon. He hopes Kuwait will follow suit.

Meanwhile, MP Ahmed Nabil Al-Fadel has criticized the Capital Market Authority Law, asserting that 'a small and vague article turned a beautiful law into something like hell.' He argued the law was designed to regulate money markets and attract investors to reach the highest possible trading rate. 'However, this good objective was marred by Article 122 which transformed the authority into a ruthless executioner, crushing speculators without realizing that they are the main engine of transactions. Sanctions must be imposed on those who manipulate the prices of goods, not those who create business,' he added.

Addressing members of the authority, he said, 'We are in the process of submitting amendments to your law and we hope you will cooperate with us to come up with the best formula, because the laws and regulations suitable for advanced markets do not necessarily fit into small markets like ours.'

In another development, MP Talal Al-Jalal has stressed the need to address the irregularities highlighted by lawmakers to avoid clashes in the next legislative round and the expected flood of interpellations. He said the government is under a parliamentary microscope this summer, so it should take advantage of the parliamentary recess to address the issues. He called on the government to clarify the illegal disbursements in previous budgets amounting to KD 3.8 billion, adding that those proven to have misappropriated public funds must be held accountable. He said the parliamentary recess is a good time for the government to review its papers and positions, especially since the MPs have announced their plan to grill HH the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and some ministers in the next legislative round.

Furthermore, MP Mohammed Al- Dalal has asked Minister of Education and Higher Education Dr Mohammad Al-Fares to announce the results of the investigation on the fake certificates and action taken against those proven to have committed violations. He pointed out this is an important issue because it is related to the most vital sector — education. He said the minister must be in the vanguard in the fight against corruption.

By Abubakar A. Ibrahim Arab Times Staff


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