The Ministry of Finance has recently paid more than a quarter of a billion dinars of the approximately two billion dinars which is the arrears and contributions to the Public Institution for Social Security (PIFSS) for the past fiscal year, indicating that this money include all contributions due from Kuwaiti workers in the government, private and oil sectors.
Informed sources told Al-Rai that Finance Ministry paid about 350 million dinars for January, an increase of nearly 50 million over the installments for the same month last year, while it finally transferred about half a billion from last February, an increase of nearly 200 million over what is required to be paid, taking into account the annual growth of total subscriptions.
The sources pointed out that an agreement had previously been signed between the Finance Ministry and PIFSS officials to postpone the transfer of the “insurance” contributions that were temporarily delayed due to the repercussions of the Corona pandemic, whose payment value decreased from about 300 million dinars per month to between 80 and 100 million, which constituted accumulated dues to more than two billion dinars.
It was agreed to pay the arrears in installments, with a commitment to pay the due sections monthly, since the beginning of 2023.
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