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Kuwait privatization bill "backbone" of gov''t''s development plan - MP |
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Sunday, 21 March 2010 23:42 |
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KUWAIT, March 21 (KUNA) -- Endorsing the privatization bill is crucial, as it is seen as "backbone" of the government's development plan, Kuwaiti MP Abdulrahman Al-Anjari said Sunday.
Al-Anjari, Rapporteur of the economic and financial affairs' committee, told reporters after the meeting that the committee members approved the bill "due to the fact it is a vital and essential and is considered a backbone for the government's development plan." Al-Anjari added that the bill would "reconstruct" the state's overall hierarchy and open "new horizons" in terms of economic and social venues.
The bill, consisting of 26 articles, stipulates establishing a higher council for privatization to be chaired by His Highness the Prime Minister and the membership of three cabinet members, as well as three elite economists, he noted.
The committee, during the discussion of the bill, had put into consideration the protection of rights of Kuwaiti employees "against anything" that would jeopardize their income, he said.
Al-Anjari also pointed out that the bill stipulates granting three additional years in social security, as well as the "necessity" to rehabilitate manpower shifting to the private sector.
Should it be passed by parliament, the bill will open investment channels in the private sector and would encourage investment expansions inside Kuwait, as well it would provide many job opportunities, the MP concluded. - Kuna
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