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MP proposes exchange for SMEs, Minister warns on food pricing ahead of Ramadan
March 19, 2017, 9:49 am
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MP Mohamed Al-Huwailah has submitted a proposal to form a special stock exchange for small and medium-sized enterprises SMEs. These high-quality SMEs, he said, play a key role in furthering the economy and absorbing huge chunks of human resources to trim unemployment and diversifying the sources of income and stimulating economic growth.

He explained the special stock exchange for SMEs with help from initial public offering and providing the required funding will stimulate the continuity and ensure the growth of the SME sector.

This is in addition to enhancing the performance of Kuwait’s economy and providing employment opportunities. In another development, Minister of Awqaf and Islamic Affairs and Minister of State for Municipal Affairs Mohamed Al-Jabri said the intention by cattle importing companies to raise the prices of livestock before Ramadan and signing a document to this effect is a kind of manipulation of food security.

The minister announced tough measures should be taken against all companies which have signed this document. He added the manipulation of food security is a crime against the country and citizens and this will not go unnoticed. He stressed the companies which have signed the document will be punished. He added the Public Authority for Agricultural Affairs will not hesitate to cancel the licenses of companies that manipulate in food security.

This is in addition to withdrawing the allocated plots of land and stoppage of the subsidized fodder. Al-Jabri revealed a committee has been formed by PAAAFR to follow up the authenticity of the document that has been leaked. “We will activate the laws and use our powers and will not relent if manipulating of food security is proved. “We will take a series of steps and measures to ensure the price stability and if this leaked document’ is true, these companies must bear the consequences,” he said.

Meanwhile, the Legislative and Legal Affairs Committee of the National Assembly will discuss, during its meeting Sunday morning, the request by the Public Prosecution to lift the parliamentary immunity of three MPs — Jama’an Al-Harbash and MP Ahmed Nabil Al-Fadel in the press misdemeanor cases and Nayef Al-Mirdas Al-Ajmi in the State Security case.

On the other hand, the Committee will examine the proposals for amending some laws and provisions of the Anti-Corruption Authority particularly Law No. 2/2016 concerning disclosure of financial assets in addition to a bill on conflict of interest and code of conduct.

Sources indicated the committee cannot decide on the Anti-Corruption Authority Law amendments and the conflict of interest bill, because the government has yet to look into the bills presented by MPs in this regard.

Source: Arab Times

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