KUWAIT CITY, Aug 6: According to government reports, the Ministry of Electricity, Water, and Renewable Energy contributed 33.4 percent of the total non-oil revenues collected by 34 ministries and government agencies during the 2023/2024 fiscal year. The reports explained that during the aforementioned fiscal year, the ministry garnered total revenues amounting to KD 483.608 million. This increase in revenue can be attributed to the ministry’s diverse collection methods for debts owed by customers, including customer service offices across various governorates and electronic services available through the ministry’s application and website.

Meanwhile, the ministry’s total expenditures for the same fiscal year reached KD 4.057 billion, accounting for 71 percent of the total estimated expenditure of KD 4.1 billion. The largest portion of the ministry’s budget, amounting to KD 2.9 billion, was allocated to goods and services, which includes expenses related to oil, gas, and other materials used in operating power and water production stations. The rise in expenditures in this category was driven by an increase in oil prices during the fiscal year, which rose to USD 84 per barrel, exceeding the estimate of USD 70 per barrel in the budget. The reports also revealed that the ministry’s expenses for employee compensation totaled KD 740.51 million during the fiscal year, which includes salaries, bonuses, and allowances for employees

By Mohammed Ghanem
Al-Seyassah/Arab Times Staff