MoCI mulls e-signature for licensing companies online

KNPC eyes 9 more mobile power stations

KUWAIT CITY, Oct 9: Assistant Undersecretary for Companies and Commercial Licenses Affairs at the Ministry of Commerce and Industry Ahmad Al-Fares affirmed that promoting Kuwait to the level of emerging international markets was possible through concerted efforts made by several ministries and agencies, especially the Ministry of Commerce and Industry, reports Al-Seyassah daily.

Al-Fares declared the ministry does not leave any stone unturned to ensure that relevant laws are amended to improve the work environment in a way that is suitable for every stage. He said the ministry is on the verge of coordinating with concerned officials in the Ministry of Justice to initiate e-signature for establishing and licensing the companies online. He stated the idea will spare people the stress of going to the ministry for this purpose in future.

He stressed the infinitesimal licensing project the ministry introduced in August is successful in all ramifications, noting the minister formed a committee to manage the project technically while the ministry concluded procedures for labor support and established the mechanism of monitoring.

As per condition of the companies that are prone to bankruptcy and those already effaced, the ministry will not act as a sword dangling on heads of the company owners, he said.

He reiterated the ministry will rather assist companies that are facing problems. For this reason, a committee of consultants has been formed to study situation of the companies with the hope of resuscitating and assisting them to overcome problems.

Deputy Executive Director for Domestic Marketing at Kuwait National Petroleum Company (KNPC) Jamal Alloughani said the company is planning to procure additional nine mobile power stations in future, reports Al-Rai daily.

Alloughani said the power stations will satisfy the needs of the petroleum products in the local market. He revealed various products sold within the past 12 months include 2.4 billion liters of Super (Octane 91), 1.7 billion liters of Premium (Octane 95), and 52 million liters of Ultra (Octane 98). He also said the company sold 1.9 billion liters of diesel and 152 million liters of kerosene at the same period.