Subsidies For Construction Materials May Be Increased
Category: Information
subsidies-for-construction-materials-may-be-increased_kuwait

The Council of Ministers is considering allocating a budget of 12 million dinars to increase support for construction materials in order to reduce the high cost of this commodity, provided that the support is in accordance with Law No. 19 of 2014 on housing care, which has been increased from 30,000 to 33,000 dinars.

According to a local Arabic daily, the Ministry of Commerce confirmed the escalating increase in the prices of construction materials and that it will affect citizens' ability to build their homes, especially since it is scheduled to distribute approximately 10,000 housing plots between 2022 and 2023.

Failure to make a decision to increase the subsidy amount to 33,000 dinars, the ministry warned, "would force the ministry to increase the prices of subsidized materials, and the citizen will absorb the difference."

The ministry's proposal includes boosting the subsidy for insulating bricks from 6.5 to 9 dinars and raising the price of subsidized iron from 57 to 75 dinars per tonne.

The Cabinet has charged the Ministry of Commerce and Industry with working with the Ministry of Finance, the Kuwait Municipality, and the Fatwa and Legislation Department to investigate the issue from all angles, prepare the necessary legal tool, and lay the groundwork for lowering the high costs of subsidized construction materials.

The Council of Ministers is considering allocating a budget of 12 million dinars to boost support for construction supplies and lower their high costs.

14 Apr, 2022 175
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