(MENAFN - Arab Times)
KD 20 billion revenues expected in 2018/2019 budget
KUWAIT CITY, March 21: Amid the
challenge of high commodity prices and the rise in cost of services witnessed
each year as Ramadan approaches, inspection teams affiliated to the Ministry of
Commerce and Industry have embarked on extensive campaigns to curb artificial
prices hike and violations in the domestic recruitment offices that raise the
cost of recruitment or hire for citizens and expatriates on hourly basis.
In this regard, Al-Seyassah daily
embarked on a market survey to discover the high cost of hiring domestic
workers, which has shot up to KD 1,500 per housemaid (a difference of over KD
500 from the original cost of KD 990 announced by concerned authorities).
It was gathered that the cost of
housemaid now ranges from KD1,000-KD1,700 depending on several criteria, chief
among them the nationality. In this case, Filipinos are the costliest, followed
by Indians and Sri Lankans, while Africans are the cheapest.
On the contrary, sources at the
Ministry of Commerce and Industry informed that inspection campaigns conducted
by the officials led to the issuance of several citations against traders of
consumer items who hike prices without legal justification. They also withdrew
licenses or fined several domestic recruitment offices over their involvement
in inflating the prices of hiring domestic workers beyond KD 990.
Some of the offices were also
found guilty of encouraging housemaids to escape so that they could be
re-registered under new sponsors, besides hiring them out on hourly basis. They
urged the affected citizens and expatriates not to relent in submitting
necessary complaints to the Consumer Protection Department concerning undue
hike in prices of consumables or domestic
The public revenues expected to
be recorded in the 2018/2019 budget are about 20 billion dinars, noting that
the oil revenues until the end of last March was about 17.8 billion dinars,
while non-oil revenues in the same period was 2.2 billion dinars, reports
Al-Rai daily quoting responsible sources.
These figures are from Kuwait's
sales of oil which are recorded in the budget of 2018/2019, higher by about 4.5
billion dinars in revenues predicted by the Minister of Finance Dr Nayef
Al-Hajraf in previous statements, which is likely to reach 13.3 billion dinars
in oil revenues during this year representing an increase in non-oil revenues
by about half a billion dinars than expected.
The Farwaniya Traffic Department
witnesses overcrowding because of the population density of expatriates in the
governorate, especially because of renewal of driving licenses each year and
add to this the lack of sufficient staff as observed by the Al-Qabas daily
during a tour of the department. This is the most prominent issue which causes
confusion in work delays when it comes to the completion of transactions.
Informed sources told the daily
despite the processing of transactions which are determined by coupon number,
the renewal of driving licenses each year has 'confused' the work and doubled
the number of people visiting the department.
During the tour, the daily saw
the commitment on the part of the staff to ensure the applications meet the
conditions as stipulated in the law and discovered that the department
completed about 1,300 transactions of various types and rejected about 400
because they did not meet the conditions.
The sources pointed out that the
Department of Driving Licenses work two shifts (morning and evening). As for
the services provided to the elderly and people with special needs, the sources
explained that the Director of the Department Colonel Khaled Habib has issued
clear and explicit instructions to take into account their circumstances and
not to make them wait and complete their transactions if they meet all the
legal conditions without complications.
According to informed sources the
Central Bank of Kuwait (CBK) has asked the banks about the possibility of being
a member of the board of directors of the joint banking services 'KNET', and
identified four main alternatives in this regard, reports Al-Rai daily.
Sources added that the Central
Bank's entry into the KNET board is to be an equal contributor with the
remaining 11 members, or by a larger share, or by a minority stake, and finally
to get membership without owning any of the company's shares, in which case the
CBK shall be an independent member.
The committee explained that this
can be achieved through amending the text of the company's Stautes. The
legislator, in accordance with the Commercial Companies Law, has approved the
amendment of the Statute for KNET, indicating that the CBK has asked about its
membership in the company's Articles of Association, without prior approval. The
committee concluded that it is difficult to achieve this because there is an
obstacle in the Companies Law that prevents the company from achieving this.