Dr Al-Faris meets ministry’s assistant undersecretaries
KUWAIT CITY, Dec 21: After the recent meeting between the Minister of Electricity and Water and Minister of Oil Dr Muhammad Al-Faris and the Acting Undersecretary of the Ministry of Electricity Jassem Al- Nouri, informed sources from the ministry said Dr Al- Faris will meet the ministry’s assistant undersecretaries on Sunday in his first official meeting after assuming the electricity portfolio, reports Al-Qabas daily.
The sources explained that Al-Faris faces a number of challenges and several pending files that need quick decisions, especially since the electricity sector suffered in the last phase from suspension in resolving some of these matters under the pretext of the presence of a minister in an acting capacity.
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KUWAIT CITY, Dec 13: Director General of the Public Institution for Social Security (PIFSS) Mishaal Al- Othman says investments valued at about $15 billion were made during the COVID-19 crisis, and some of them have started showing profit indicators, reports Al-Qabas daily.
In a telephonic interview on Kuwait Radio, he explained that the total value of the low-performing assets that were discharged amounted to about 20 billion dollars. They were re-invested in new investments, without affecting the investment plan’s money, as the institution, in light of the returns of these exits, was able to reduce the volume of cash to ten percent now, and is targeting below four percent by the end of the fiscal year.