KUWAIT: Oil Minister and State Minister for National Assembly Affairs Ali Al-Omair said oil producing countries expect a world economy growth that will take place in the coming period, and will have a positive effect on oil prices in the future. Minister Omair added they are totally assured about the implementation of the oil strategy that is set until 2020 and will continue its implementation until they reach a production rate of four million barrels. Omair noted Kuwait has outstanding relations with importing countries, be it in Asia or in Europe, as Kuwait is able to maintain its market share in world markets.

Meanwhile, Minister Omair issued a decision to attach the internal audit group and legal affairs department to the office of the chairman of the board of Kuwait Petroleum Corporation, which is him, instead of CEO Nizar Al-Adsani. The minister issued the decision to form a committee to look into the notes and violations mentioned in the Audit Bureau report on the oil sector.

Study to privatize co-ops finished

The study to privatize cooperatives is now ready at the Social Affairs and Labor Ministry and will be submitted to Minister Hind Al-Subaih. Sources said the study supports privatization and stresses its importance to serve citizens and achieve better economic returns to the country instead of money squandering violations.

Health insurance law postponed

The health insurance law for pensioners, which the Health Ministry seeks to implement this month, is facing some obstacles that may postpone it until next month. Sources said the ministry is in contact with insurance companies to agree on the mechanism of implementing the law, yet there are issues that are still being discussed. They said the financial issues top the list of non-agreed upon matters especially since the companies are presenting prices that are higher than what the ministry presented.

By A Saleh