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Kuwaiti Cabinet calls for finding exits to provide liquidity to pay salaries

Kuwaiti Cabinet

The Kuwaiti Cabinet has called for finding exits to ensure the provision of the necessary liquidity to pay  salaries and monthly obligations.

The Cabinet stressed the need for coordination between agencies and ministries to find a practical vision to provide liquidity to the General Reserve Fund.

Each ministry or agency is scheduled to submit proposals to address the problem of government misspending funds and find a way to rationalize expenditures from the state budget.

Kuwaiti Cabinet

These discussions will be presented at the ministerial economic committee meeting, which will be held today, provided that proposals and perceptions will be submitted to be ready at the cabinet table at its meeting next Monday, according to the Kuwaiti newspaper, Al-Anbaa.

In response to a question about increasing the rents of state property, sources said, “One of the proposals that is still negotiable is to increase the rents of state property, whether in schools or some economic activities.”

Regarding the reduction of gasoline subsidies, oil sources indicated that the current tariff for a liter of premium and special gasoline ends on September 30.

The sources said that this calls for a meeting of a committee to re-examine the various types of subsidies within days to review the price in terms of fixing or amending the current tariff.

The government is committed not to increase service fees, apply value-added tax, apply selective tax, or withdraw from the Future Generations Fund, except when laws are issued with the approval of the Cabinet.

Government structure

In a related context, a Kuwaiti newspaper revealed new leaks of the largest government restructuring process in its history that Kuwait intends to conduct early next year.

According to the Kuwaiti newspaper, Al-Qabas, it is scheduled to abolish, create and merge 12 ministries, as part of a huge government restructuring process.

The newspaper said that the government plan aims to establish nine public shareholding companies that will be under the umbrella of the General Investment Authority.

The activities of the joint-stock companies vary between a company to manage local airport operations and air navigation, and another that operates port operations, as well as establishing a postal company to manage the postal system in the country, and a national media holding company.

The newspaper quoted responsible sources as saying that these companies are expected to start the process of establishing them during 2022, when the assets of government facilities similar in their activity and specialization will be transferred to the activity of the companies prepared for them.

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