THE news of a major oil discovery east of Failaka Island brought great joy to Kuwaitis. According to reliable oil sources, more of such discoveries will follow, and this will not be the last. The discovered volume equals Kuwait’s production over the last three years, with an estimated current market value of approximately USD 225 billion.
What does this mean in the language of numbers and development? Kuwait has undoubtedly faced many crises in recent years, stemming from various reasons that are too numerous to list but are known to everyone. As a result, infrastructure lagged, development projects were stalled, and all aspects of entertainment and enjoyment were disrupted and closed.
Meanwhile, the imprudent laws that were passed in recent years have restricted citizens, many of whom seek opportunities for leisure abroad, and hence flee to Allah’s vast world during every vacation.
On the other hand, stakeholders have intensified their efforts to pressure constitutional institutions to prevent the crisis of loans and debtors from being addressed, with the aim to strangle the citizenry for their malicious goals that are known to everyone.
Today, these interferences have vanished, and the government is working based on a clear vision outlined by His Highness the Amir. In light of this new reality, it is imperative to work quickly to initiate all development projects in infrastructure, the northern economic region, entertainment cities, or others, which aim to encourage citizens to remain in the country and enjoy the facilities here without disruption.
In addition, it is also necessary to address issues related to debtors and holders of loans for housing, consumer, study or medical care, holders of dud cheques, and other matters that burden the citizens. Financial abundance exists, and the actual figures are not as exaggerated as rumored. According to statistics, personal loans amount to KD 1.9 billion, not KD 14 billion as some critics, proponents of the “social justice and equality” theory, attempted to mislead decision-makers with.
Resolving this crisis will lead to revitalization of economic activity, because the borrowers, who total about 230,000 citizens, are suffering due to their inability to repay their financial obligations. On the other hand, many of them, including women, are either incarcerated or subject to arrest warrants, or banned from traveling because they issued dud cheques under pressure from moneylenders.
In recent years, several factors have hindered justice for these individuals, including amending the dud cheque law. In Kuwait, dud cheques are still considered a felony, whereas many other countries have amended their laws to treat them merely as performance guarantee cheques. Therefore, by resolving this crisis, the government will alleviate a lot of pressure on citizens.
Consequently, if the government intends to impose taxes, it can do so, given the relief it provides by completing infrastructure projects, enhancing recreational facilities, and expanding livelihood opportunities within the country. It was said in the past, “Time is money.” Therefore, the current government must benefit from the blessings that Allah has bestowed on Kuwait, and work to solve all crises.
Today, it does not have a sword drawn by either parliamentarians or influential people. It also has a large financial abundance through which it can advance the country, instead of deluding people into thinking that we are living in a crisis and scarcity, as stinginess is the enemy of states and the scourge of chaos.
By Ahmed Al-Jarallah
Editor-in-Chief, the Arab Times
[email protected]
