‘Set Up Pharmacies At Fuel Stations’

The National Fund for Small and Medium Enterprises Development (NFSMED) has officially requested the Municipal Council’s approval to allow pharmacies to operate within fuel stations funded by the organization. This proposal, which follows a trend observed in neighboring countries, aims to enhance community services, support the local economy, and create additional opportunities for small and medium enterprises (SMEs).

Pharmacy Activity at Fuel Stations: A New Business Model

The initiative comes after a request by one of the Fund’s supported companies specializing in pharmacy services. The company seeks approval to integrate its pharmacy operations into fuel stations to better serve the public. The proposal has gained initial support from the Ministry of Health and the Ministry of Interior, pending completion of additional approvals from relevant authorities.

Reasons Behind the Proposal

The NFSMED has outlined three primary benefits for the inclusion of pharmacies in fuel stations:

• Wider Service Reach: Pharmacies in fuel stations can extend their services to remote areas and highways, where access to pharmacies may be limited.
• Population Density: Certain regions with limited pharmacy options could benefit from more accessible healthcare services.
• Increased Sales and Profitability: The strategic placement of pharmacies within fuel stations could generate higher sales volume and enhance profitability due to a competitive edge over other businesses.

Impact on Small and Medium Enterprises and the Local Economy

This move is seen as a significant step in supporting SMEs by increasing their visibility and providing them with new business opportunities. The initiative also aligns with the Fund’s mission to strengthen the position of the National Fund and bolster the local economy.

Government Approvals and Next Steps

With initial approvals from the Ministry of Health and the Ministry of Interior in place, the company is now waiting for final approvals from other relevant authorities. Once completed, this innovative model is expected to set a precedent for similar initiatives in the future.

Conclusion

By expanding pharmacy services to fuel stations, the National Fund for Small and Medium Enterprises aims to provide better healthcare access, stimulate local economic growth, and offer new avenues for SMEs. As this initiative progresses, it could pave the way for similar projects across the country, enhancing public services and contributing to the growth of Kuwait’s small and medium-sized business sector.