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Cabinet mulls oil price slump aftershocks
December 16, 2014, 8:50 am
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The cabinet discussed in its weekly meeting at Bayan Palace yesterday a series of proposed precautionary measures to deal with the current deterioration of oil prices and the future prospects of oil markets.

Following the meeting, Minister of State for Cabinet Affairs Sheikh Mohammad Al-Abdullah Al-Mubarak Al-Sabah stated that His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah underscored the importance of quick and serious moves to put into effect the directives of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah during the extraordinary cabinet meeting on Sunday, especially those related to the economic situation in light of the developments on the oil market and slump of oil prices.

He added that the cabinet mulled a number of proposals to beef up national economy and to push forward partnership between the public and private sectors. The cabinet will complete discussions of the proposals, its executive measures and timetables in the coming meeting, he said.

The cabinet endorsed a draft decree on the new lineup of the supreme council for the public authority for people with special needs. It approved a draft decree to consider Thursday 1/1/2015 a holiday for the government bodies on the occasion of the New Year.

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