Latest News
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
- Peddlers Caught With Drug Pills And Crystal Meth
- PAFN Shuts Down Restaurants And Bakeries Over Violations
- MoI Officer And Lawyer Jailed On Fraud Charges For Bad Cheques
- Thousands Of Bangladeshis Gathered To Pray For Rain
- Kuwait University Symposium Addresses Student Counselors' Role I...
- Kuwait Affirms The Importance Of Group Work In Addressing Common...
- Urgent Call For Kuwaitization: Civil Service Commission Aims For...
- Kuwait Halts Work Permits For Egyptian Workers Amidst New Regula...
Kuwait Sab Announces Kd 249m Financial Savings In Public Funds
Kuwait’s State Audit Bureau (SAB) announced on Saturday making financial savings in public funds at the value of KD 249 million (around $820 million due) to supervisory activities it fulfilled in cooperation and coordination with responsible bodies for the fiscal year 2017-2018.
SAB’s Director of the Department of Economic and Regulatory Control Fatma Al-Busairi said in a press statement that tight supervision in the fiscal year 2017-2018 increased the saved fund by KD 60 million (around $197 million) compared to fiscal year 2016-2017, when the saved amount reached KD 234 million ($770 million).
The tight supervision control is divided into financial and non-financial, and has resulted from SAB supervisory task, she said. The financial control is reflected in achieving measureable public benefit like decreasing expenses or increasing income, while non-financial control is represented by achieving a non-measureable public benefit and supported with proofs like improving the performance of the work institution, she added.
The financial control has saved funds valued at around KD 294 million ($968 million), distributed to the bodies included in SAB’s supervisory activities, with the ministries and other public bodies’ share standing at 70 percent, and the independent entities 18 percent, she said.
That of companies of annexed budgets was at 10 percent, while that of bodies of attached budgets stood at two percent, she said. The financial control gained from subsequent control reached KD 277 million ($912 million), 94 percent of the total value, while the non-financial control gained from the pre-censorship KD 17 million ($55 million) which makes only six percent of the total value, she said.
The financial control of the governmental sector reached KD 264 million (around $869 million), which reached KD 30 million ($98 million), while the non-financial control effects of the governmental sector reached 123, and 15 to companies sector, she added. Meanwhile, the non-financial control represented in non-measurable public benefit reached 138 distributed to various bodies, ranging from 43 percent to bodies of independent budget, and 11 percent to companies, she affirmed.
SOURCE : ARABTIMES
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Gathering For Eid Al-Fitr Prayers: Kuwaiti Citizen...
10 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
Comments Post Comment