KUWAIT: His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah chairs the Cabinet’s meeting on Sunday. — KUNA

KUWAIT: The Cabinet, during the regular session held on Sunday, welcomed electing State of Kuwait to occupy a non-permanent seat at the United Nations Security Council for a two-year-term starting January 2018.  This came during the session, held at Bayan Palace under chairmanship of His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah.  Minister of State of Cabinet Affairs and the Acting Minister of Information Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah read the cabinet statement, saying the session kicked off with the First Deputy Premier and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah briefing the ministers about outcome of his participation in the latest UN General Assembly session for electing non-permanent members in the Security Council for 2018-2019. During the UNGA session, the State of Kuwait was elected to occupy a non-permanent seat in the UNSC for two years effective January 2018.

The Cabinet welcomed the election of the State of Kuwait, whereby gaining a non-permanent seat in the UNSC with a majority of votes amounting 188. The government praised this historic achievement which depicted the State of Kuwait's eminent international-regional status and the nations' confidence in its moderate and balanced policies, drawn up by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Sabah since independence.

The State of Kuwait through this membership affirms its keenness on devoting care and concern for the Arab and Islamic causes, the Cabinet statement said.  Kuwait, it added, will work with the other member states to activate the role of the UNSC for preserving international peace and security, alleviate tension and conflicts. Moreover in this respect, the ministers lauded great efforts that had been exerted by minister Sheikh Sabah Khaled and officials of the Foreign Ministry to make that grand accomplishment, also expressing appreciation for sisterly and friendly nations that supported Kuwait's nomination for the UNSC seat.

Financial status

Meanwhile, the executives were briefed by the Undersecretary Finance Minister Khalifa Musaed Hamadah and Managing Director of the Public Investment Authority Farouk Ali Bastaki about the State financial status (13/3/2017), pending submission to the National Assembly, based on the Constitutional Article 150.

The presentation tackled assets' comparisons with the previous fiscal year-represented by the state general reserves, the next generations' reserves, the oil reserves, the state transferrable assets, the state realty properties and the compensations. It also addressed liabilities, namely the public treasury liabilities for the Public Institution for Social Security (PIFSS), projected liabilities for development projects, the treasury bonds, realty loans' pardon, capital of the public housing institution, due liabilities according to the military armament law and end of service payments for non-Kuwaiti civil servants.

The ministers were assured about sound capitalization of the national economy, its crediting strength, reserves' solidity run by the Public Investment Authority, giving instructions to all relevant authorities to maintain the financial and economic reforms.  They examined recommendations by the legal affairs committee with respect of a bill approving the treaty between the Kuwaiti Government and the NATO about establishing and operating the NATO regional center, as part of the Istanbul Initiative for Cooperation, as well as a bill approving the Paris Climatic Change Agreement. The two bills were endorsed by the Cabinet and referred to His Highness the Amir, pending submission to the parliament.

The Cabinet examined recommendations by the draft decrees committee concerning accords between the Kuwaiti government and governments of a number of countries. The draft decrees were approved and referred to His Highness the Amir. - KUNA