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KD 50 salary increase for Kuwaitis earning less KD 1,000 - Kuwait MP
23/06/2008 | LOC00:16
21:16 GMT
| Kuwait News
تصغير الخطالشكل الأساسيتكبير الخط
KUWAIT, June 22 (KUNA) -- The National Assembly finance and economy committee agreed Sunday on a KD 50 salary increase for Kuwaiti employees earning less than KD 1,000 a month.
The committee's Secretary Dr. Nasser Al-Sane' told the press after their meeting this evening that Kuwaitis, working in the public and private sectors, the army, the oil industry as well as handicap citizens receiving special funding, are to receive the salary increase if they did not earn more than KD 1,000 margin.
The committee also ratified a draft law to establish the backup fund for insolvent citizens who were facing difficulties in paying their up consumers loans and fair for investment companies and banks, stated Al-Sane', revealing that the capital to establish the fund would reach KD 500 million.
He indicated that citizens qualified to receive aid would be those whose installment rate did not exceed 50 percent of their salary, adding it registering in the fund would come after six months from approving the draft law in parliament.
The KD 50 increase and establishment of the insolvent fund would be referred to the NA Presidency in order to prepare it for discussions on the upcoming parliamentary session this Tuesday.
Finance Minister Mustafa Al-Shimali said on his part that he would convey the proceeding of today's meeting to the cabinet weekly session tomorrow. (end) ms.mtt.gta KUNA 230016 Jun 08NNNN
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