The committee responsible for reviewing all government subsidies for citizens recently announced the new price of diesel and kerosene for September, adding the two commodities will be sold for 105 fils per liter in fuel stations, reports Al-Anba daily quoting reliable sources. They explained the committee discussed the work plan of Ernest & Young Company which is responsible for setting policies to reform subsidies in Kuwait, indicating the policies are based on several mechanisms instituted through careful study of the current situation and understanding of the goals of subsidy designed to reform and to yield positive socioeconomic results through proposed scenarios that specify the mechanism of application. They made it clear that the committee on Monday will discuss the outcome of studying regulations for export of the derivatives of subsidized kerosene.
Meanwhile, a committee was formed to study the state of affairs of the local companies using kerosene as a primary substance for production.
The committee will examine products of the companies in question through an international specialized laboratory to specify the percentage of kerosene in each product and to decide the mechanism of supplying kerosene to the companies. In other news, the Ministry of Finance will soon complete a study on the low cost method to address the budget deficit through the issuance of bonds and financial instruments, reports Al-Anba daily quoting sources.