Minister of Oil, Acting Minister of Electricity and Water Dr. Khaled Al-Fadhel announced on Wednesday the halt for employing expatriates in Kuwait Petroleum Corporation (KPC) and its subsidiaries.
This came in an intervention by Al-Fadhel during a meeting held under the patronage and presence of the Speaker of the National Assembly by the Parliamentary Financial and Economic Affairs Committee with owners of small, medium and large projects and workers in the private sector in the National Assembly to discuss the economic implications of the coronavirus pandemic.
Al-Fadhel affirmed that he will not stand idly by towards those who want to lay off national workers in oil companies, indicating at the same time that the pandemic (coronavirus) is a global crisis that has afflicted the whole world, not a local one, such as the climate market crisis or the invasion. He added that the price of a barrel of oil decreased during this crisis as a result of the dumping of the market and the lack of demand for it, but the oil market is now recovering, as prices started to rise. He believed that the oil sector should not be the only source of income, stressing the need for the private sector to participate in strengthening the national economy and developing legislation and laws to protect this sector.
The meeting was attended by the government side, Minister of Trade and Industry Khaled AlRoudhan, Minister of Oil and Acting Minister of Electricity and Water Dr. Khaled Al-Fadil, Minister of Social Affairs, Minister of State for Economic Affairs Maryam Al-Aqil and Governor of the Central Bank of Kuwait and Chairman of the Higher Steering Committee for Economic .Stimulation Dr. Muhammad Al-Hashel The meeting was also attended by General Director of the General Organization for Social Insurance, Mishaal Al-Othman, Vice-Chairman of the Executive Board of Kuwait Projects Company (KIPCO) Faisal Al-Ayyar, and Chairman of the Executive Committee of the Kuwait Stock Exchange Company, Bader Al-Kharafi.