Kuwait may implement fuel price hike from April 1
Country's National Assembly had previously approved the Economic Reform Document
Kuwait’s Fianance Ministry is expected to implement a proposed fuel price hike from April 1, Al-Anba daily reported.
The GCC state’s National Assembly had previously approved the Economic Reform Document, the report says.
However, a source from the Supreme Council for Planning rejected the idea of applying the new prices from April 1.
He pointed out that despite the National Assembly approving the Economic Reform Document without seeking amendments, the proposal still needs to be referred to the Parliamentary Economic Committee on March 29.
That, he says, makes it illogical to enforce the decision on April 1, which falls on a Friday.
He added that it also takes time to send the parliamentary approval to the government, indicating the reasonable date is either October 1 or January 1, 2017.
On the application of the new electricity charges, the source said both the legislative and executive authorities agreed that it will be done after approving the country’s budget for fiscal 2017-18.