Kfas Has Substantial Funds Collected Through The Taxable Contributions For Scientific And Cultural Activities

MP Abdulkareem Al-Kandari has forwarded questions to Education and Higher Education Minister Mohammed Al-Faris about Kuwait Foundation for the Advancement of Sciences (KFAS). He said KFAS has substantial funds collected through the taxable contributions of companies for scientific and cultural activities — the main purpose of establishing the foundation.

He wants to know value of the funds, assets owned by KFAS, and the investment map for these funds and assets. He asked if Kuwait Investment Authority or any other government agency or a private company has invested the funds and assets of KFAS. If yes, he wants to know date of investment and legal basis for KFAS to assign these entities to invest its funds and assets.

He also inquired if KFAS has laid down an annual plan (short or long-term). If yes, me he requested for a copy of the plan.

He asked as well about the amount spent by KFAS on scientific and cultural activities in the last five years; including contributions, prizes, sponsorships and financial support for these activities in 2016 and 2017 until the date of responding to his queries.

SOURCE : ARABTIMES

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