Apr 17 2010 |
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Finance minister requests KIA report after criticism
KUWAIT: Finance minister Mustafa Al-Shamali has reportedly asked the Kuwait Investment Authority ( KIA ) to prepare a detailed report, including responses to parliamentary criticisms of its performance and allegations concerning insider deals and possible excessive risk-taking. According to a ministry insider, the minister demanded that the report also include detailed answers to comments by Audit Bureau officials on the issue.The official said that Al-Shamali intends to brief the cabinet on the truth behind MPs' allegations against the KIA and to refer any outstanding issues to the Public Prosecution if the circumstances merit doing so.
The report may also provide an opportunity to evaluate Al-Shamali's readiness to face threats of interpellation during the next parliamentary term, which he has consistently insisted are based on false information, the official suggested.
The cabinet is also set to deal with the debt of approximately KD 5 billion owed by the government to the Public Institution For Social Security ( PIFSS ). Payment of this debt has reportedly been deferred several times, with the institution now demanding that the debt be settled in order to pay for prison services.
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