A Kuwaiti parliamentary committee has revoked a proposed rise in prices and rates of fuel, electricity and water.
Kuwait’s parliamentary financial and economic affairs committee has approved a bill that revokes recent decision to increase the fees, according to state news agency KUNA.
The bill also bans the introduction of the new financial fees for the State public services. The committee ruled that those fees must be applicable solely by law endorsed by the National Assembly.
The commission will submit a relevant report to the National Assembly for voting, commission rapporteur, MP Safaa Al-Hashem, said in a statement to journalists.
MP Al-Hashem said the proposed law says in its first article "fees cannot be raised on financial costs of the commodities and the services and the subsidised products provided by the State to the citizens except by power of a law issued by the National Assembly”.
She also explained that the bill also says that fuel prices must be fixed at the levels that existed ahead of September 1, 2016, without retroactive effect.
The bill second term annuls Law 20/2016 with regard of specifying the power and water rates.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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