MP presents detailed technical study on financial situation and investigations conducted by PIFSS

Al-Adasani to submit study to govt

KUWAIT CITY, March 26: Rapporteur of parliamentary Budgets and Final Accounts Committee MP Riyad Al-Adasani has presented a detailed technical study on the financial situation and investigations conducted by the Public Institution for Social Security (PIFSS), indicating he intends to submit the study to the government.

The study consists of several recommendations, such as the urgent need to revise the expenditures and revenues of PIFSS; in addition to enforcing a clear decree on linking revenues with expenditures.

The study suggested using the money of PIFSS — kept in form of bank deposits — in profitable investment projects whose gains are much higher than the interest.

Al-Adasani called for assessment of investment projects, especially those which could bring about losses rather than gains. He also emphasized the need to search for alternative investment portfolios to protect the capital of PIFSS — approximately KD35 billion.

He recommended that PIFSS should conduct integrated feasibility studies before launching any investment project.

Al-Adasani criticized what he considers threatening and power display videos circulated by a number of securitymen in the enforcement of partial curfew.

Although he appreciates the exerted efforts, he intends to grill

Minister of Interior Anas Al-Saleh on this issue if the latter does not take action against securitymen who threaten citizens and expatriates.

In another development, he asserted the retirees are among the citizens; hence, the need to treat them like other citizens in terms of suspending the collection of payments for loans they obtained from PIFSS.

He also intends to grill Minister of Finance Barrak Al-Shitan in case the latter does not respond to the retirees’ demand.

On the other hand, MP AlHumaidi Al-Subai’e disclosed the Arab Open University is still forcing students to attend lectures; while asking them to pay the rest of the fees, attend online lessons and take the exams. He said the university ignored the Cabinet’s decision to suspend classes and ban online lessons. “Either the government has no ability to force the university to cancel its decisions or the sovereign decisions are not applicable to it,” he added.

MP Ahmed Al-Fadl urged the Ministry of Education and Higher Education to withdraw the accreditation of certificates issued by educational institutions and schools that took advantage of the current crisis to force the students’ parents to pay the rest of the fees for this academic year.

He called on Minister of Commerce and Industry Khalid AlRawdan and the assistant undersecretary for private education at the Ministry of Education to coordinate their efforts in imposing penalties on those proven to have violated the related directives.