On the request of Representative Dr. Abdulaziz Al-Saqabi in relation to the assignment of the General Investment Authority by the Council of Ministers, the Parliamentary Financial and Economic Affairs Committee approved the proposal to assume the trading and dealing of the diplomatic, cultural, security assets, as well as, military missions and attachés of Kuwait. The proposal pertains to the purchase of land, ownership of buildings, rental or sale of real estate, as per the Authority’s regulations.
The said proposal has been approved in coordination with relevant state authorities, such as the Ministry of Foreign Affairs, the Ministry of Higher Education, the Ministry of Defense, the Ministry of Interior and other related government agencies, to ensure the proper handling of public funds and budgets.
The committee submitted a request for the General Investment Authority to file an annual report to the Council of Ministers regarding the management and investment of these assets. Al-Saqabi stated the proposal aims to govern over control of waste reduction, ensure return of income and foil the abuse of state assets’ management and ownership abroad.
