Deputy Prime Minister, Minister of Finance and Acting Oil Minister Anas Al-Saleh has urged oil workers' unions to uphold public interests, rationality and wisdom to avoid causing damage to the Kuwaiti oil sector, and consequently pushing the country into disputes that could harm its reputation, both at home and overseas.
The critical stage the Kuwaiti economy is experiencing due to the falls of oil prices prompts unity and working according to a joint vision to keep away causing any harm to the oil sector and the development process it is going through, Al-Saleh said in a statement on Saturday.
The Kuwait Petroleum Corporation (KPC), and its affiliate companies, reiterates preservation of workers' rights; wages, bonuses and indemnities, and the way the latter is calculated, as well as other advantages they have gained through labor agreements and the arbitration authority, the minister added.
The KPC and subsidiaries still call on the oil trade unions to take part in a proposed joint commission, which is one of workers' demands, to work on a conciliatory solution and overcome that critical stage, Al-Saleh noted.
He pointed to the enormous challenges facing the Kuwaiti economy, which prompted the state to take serious steps to counter them, in all sectors, in addition to crystalizing an obvious economic vision to manage the oil wealth, the backbone of the national economy. He added that the KPC and its subsidiaries had frozen the suggested retrenchment initiatives during the negotiation period as per Articles 131 and 132 of Law 6/2010, just out of their responsibility for the size of risks and challenges the oil sector is facing.
The minister concluded by calling for necessarily maintaining the oil sector, which is the backbone of Kuwait's national economy and setting top priority to the country's higher interest.