Govt working on new concept of Public Debt Bill, says report
Mabani to start operations in mall
KUWAIT CITY, May 5: The government is working on a new concept for the Public Debt Bill, taking into account the comments of parliamentarians, reports Al-Qabas daily quoting sources.
Sources revealed the goal of the government is to finalize amendments within this week to pave way for the approval of the bill in the next parliamentary session.
Despite the ministerial division following decisions issued by Finance Minister Barrak AlShitan recently, the government refuses to discard the bill; so it is now working hard to amend bill in line with the comments of National Assembly members, sources said.
Sources explained the government’s insistence to push for the approval of the bill does not mean it is keen on standing firm by its decision nor it is ignoring the opinions of lawmakers, but the Assembly must also understand that passing the bill is an absolute necessity to address the budget deficit and finance State projects.
The CEO of Al-Mabani Company Walid Al-Shariaan disclosed that this closure period has been a good opportunity for Al-Mabani Company to carry out a comprehensive maintenance work and deferred reforms that are difficult to complete in normal times, reports Al-Anba daily.
Al-Shariaan disclosed that the company will be able to restart the activities of “The Avenues Complex” within two days if a decision is taken to reopen the business again, especially as the operation will be partial and phased.
On the other hand, he affirmed that the board of directors has yet to discuss the issue of waiving the month of May rents for restaurants and cafes in the Avenues, especially as it’s not clear when the crisis would end. However, he stressed that the company would not take a decision only in its favor, indicating they will be careful in making any decision related to the issue of rents. He said any such decision will be compatible between their own interests and those of the owners of restaurants, cafes and investors in the Avenues.
It is worth noting that Al-Mabani Company had exempted all restaurants and cafes in the Avenues complex from the rental value due during March and April, in line with the current economic conditions resulting from the spread of the Corona virus. It also gave owners of the remaining commercial activities in the complex a discount estimated at 25 percent of the rental value for the same period, in a step of solidarity with all tenants in the complex. This is in addition to postponing payments from defaulting owners of small and medium enterprises, while rescheduling their payments over several months.