Monday, 22 January 2018 10:21 GMT

Kuwait- Privatization of coops exists in five-year development plan - minister

(MENAFN - Kuwait News Agency (KUNA)) Minister of Social Affairs and Labor Hend Al-Sabeeh indicated in a press statement on Wednesday that her ministry's plan to privatize the nation's chain of cooperative societies was "nothing new" as the intention already exists in the nation's five year development plan which runs from 2015 through 2020

Al-Sabeeh, who is State Minister for Planning and Development, said prior to privatization, extensive studies will be made to ensure its viability and success

The minister made these comments in response to much talk in recent days concerning the advisability of dismantling the cooperative societies and replacing them with privatized enterprises. Cooperative societies are located throughout Kuwait, with government financial support, that act as neighborhood shopping centers offering supermarkets, bakeries, hardware stores, and the like

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