In a move aimed at improving the living standards of retirees, Kuwait’s Finance Minister, Fahd Al-Jarallah, announced the government’s vision to increase the minimum pension for retirees as its primary initiative. The proposal comes shortly after the Ministry of Finance emphasized concerns over a separate proposal to raise the cost of living, citing potential strains on public finances and a misalignment with the government’s rationalization policy, reported Al- Jarida Daily.
Minister Al-Jarallah revealed that the vision to boost minimum pensions is anticipated to become the first project geared towards enhancing the quality of life for the targeted segments of the population. He expressed expectations that this significant initiative would be presented as law during the upcoming sessions of the National Assembly or the subsequent one, contingent on approval at the Parliamentary Finance Committee meeting scheduled for tomorrow.
The Finance Minister emphasized the strategic importance of economic reforms and the necessity to curtail wasteful expenditures to ensure the sustainability of the state’s public finances. He underscored the broader objective of achieving justice and equality among various segments of the working citizenry.
Al-Jarallah highlighted the role of this project in aligning with the royal desire and directives and in accordance with the Council of Ministers’ decision. He emphasized that it reflects a commitment to uplifting the lives of retirees, positioning it as the inaugural government project addressing the targeted segments of the citizenry.
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