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MENAFN - Arab Times - 19/03/2017
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(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

MENAFN1903201700960000ID1095328218


 


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