Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- 'Consider employee rights before any steps taken for privatization'  Join our daily free Newsletter

MENAFN - Arab Times - 19/03/2017
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times)

KUWAIT CITY, March 18: Former minister and MP Yaqoub Al-Sane'a stated the economic reform document entails privatization of some sectors, which he sees as a grave error. He made the disclosure at a symposium held in his diwaniya discussing a number of issues and noted Kuwaiti laws guarantee the protection of employees in private sector, indicating employee rights must be considered before any step is taken toward privatization.

Al-Sane'a rejected the privatization of Kuwait Airways based on the fact that it's the national carrier and could be used in enhancing tourism just like Qatar Airways and Emirates have done. He disclosed report on an integrated study he's conducting in support of minor and medium projects will be presented to the MPs, and he hopes it'll reach the Cabinet.

Also, he suggested that Parliament should focus on the issue of lifting subsidy rather than adopting other topics, because subsidy affects all Kuwaiti citizens. He stressed the concerned minister was supposed to mount grilling podium alongside the minister of information and state minister for youth affairs.

Regarding the demography, Al-Sane'a said the solution lies in the motivation of private sector to employ citizens, given that many companies do not follow the regulations on hiring Kuwaiti citizens. He noted the companies in question generally present fake reports that do not represent the true numbers, and they should be held accountable for their actions.

He indicated a proposal is in the pipeline to recommend Cabinet to issue a decision replacing expatriates in private sector with the national personnel, adding he's compiling a list of categories of citizens that can take-up specific jobs in private sector. He reiterated the need to restructure salaries in private sector en par to those of public sector to attract citizens.

About 25 companies have thought about selling their unused assets such as landed and real estate property. The proceeds will be used in paying accumulated debts of KD 700 million, reports Al-Shahed daily quoting a source. The same source added the companies in question intend to sell the assets to compensate for losses incurred to be able to come out of the current recession, noting 'this is the only available option to enable the companies bounce back into competitive levels.' He added the step is necessary after terminating almost 1,000 employees, and 'in spite of the efforts, some weak companies cannot navigate through the difficult trend and will face more problems, because they don't have enough assets to fl ing, while others have nothing at all to sell.'

By Belal Bader Al-Seyassah Staff



Arab Times

  MENA News Headlines
 Mar 25 2017 - The Organic Pharmacy available in the UAEMENAFN Press
(MENAFN Editorial) ** Celebrity favourite organic skin care range now available at Harvey Nichols Dubai and Dubai Herbal Treatment Centre ** Dubai, March 25, 2017: Those who are fans of ...

 Mar 26 2017 - Saudi Arabia takes steps to boost trade with TIR the global customs transit systemMENAFN Press
(MENAFN Editorial) RIYADH, Kingdom of Saudi Arabia, March 26, 2017/APO/ -- The Kingdom of Saudi Arabia announced today its decision to accede to the global customs transit system for moving goods ...

 Mar 26 2017 - Saudi Campaign distributes school bags to Syrian students in LebanonSaudi Press Agency
(MENAFN - Saudi Press Agency) Beirut, 27 Jumada II,1438 AH, 26 March,2017 , SPA -- Lebanon-based office of Saudi National Campaign to Support Brothers in Syria continues distributing school bags, ...

 Mar 26 2017 - Saudi- King Abdulaziz Camel Festival attracts 28551 visitors on SaturdaySaudi Press Agency
(MENAFN - Saudi Press Agency) Sayahed, Jumada II 27, 1438, March 26, 2017, SPA --King Abdulaziz Camel Festival attracted on Saturday 28551 visitors from citizens, residents and tourists. The ...

 Mar 26 2017 - Saudi Press 2 RiyadhSaudi Press Agency
(MENAFN - Saudi Press Agency) Al-Riyadh and Al-Sharq newspapers commented on Yemen, saying that the operations of Determination Storm and Renewal of Hope have been targeting the putschists from ...

 Mar 26 2017 - Kaaba Corner of Saudi Pavilion attracts hundreds of visitors at Tunisia International Book FairSaudi Press Agency
(MENAFN - Saudi Press Agency) Tunis, 27 Jumada II,1438 AH, 26 March,2017 , SPA -- The corner of the Holy Kaaba's Covering Sewing factory of the Saudi pavilion taking part in Tunisia International ...

 Mar 26 2017 - Morocco- Othmani To Give Press Conference About Government FormationMorocco World News
(MENAFN - Morocco World News) Casablanca- Morocco's Appointed Head of Government, Saad Eddine Othmani, is set to give a press conference on Saturday 25 at 8:30 to inform the public about the latest ...

 Mar 26 2017 - Morocco- Saad Eddine Othmani Announces end of Deadlock, Formation of GovernmentMorocco World News
(MENAFN - Morocco World News) Rabat – Morocco's newly appointed Head of Government, Saad Eddine Othmani announced on Saturday evening the end of the five-long deadlock and the formation of the new ...

 Mar 26 2017 - US-led coalition opens probe into fatal Mosul airstrikeThe Peninsula
(MENAFN - The Peninsula) WASHINGTON: The U.S.-led anti-IS coalition confirmed Friday it has opened a formal investigation into "multiple allegations" that a U.S. airstrike allegedly ...

 Mar 26 2017 - Syrian opposition 'committed to political solution'The Peninsula
(MENAFN - The Peninsula) GENEVA: The head of the Syrian opposition delegation at peace talks in Geneva stressed their commitment to a "political solution" on Friday. UN Special Envoy ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help