KUWAIT CITY, Jan 13: Despite the passage of nearly 8 years since the signing of the decision by former Minister of Electricity and Water, Essam Al-Marzouq, to transform the Ministry into a public authority, the project remains stagnant. Government sources revealed that the draft law is still with the Ministry and has not yet progressed to be referred to the Fatwa and Legislation Department, then to the Cabinet for approval. The transformation is considered a key project that would support development and is expected to contribute to creating a dynamic private sector that attracts investment.

The sources stressed the importance of converting the Ministry into an authority, noting that this move could save about 3.5 billion dinars annually in the Ministry’s operating budget. Of this amount, 2.9 billion dinars are allocated to fuel costs for electricity production plants each year, as confirmed by the 2023- 2024 budget figures. While the Ministry generates about 500 million dinars in annual revenue, the sources confirmed that transforming it into an authority would ensure its management on a commercial basis, supported by modern technological means. This would help achieve annual profits or balance between expenses and revenues, instead of the continued budget deficit.

Al-Seyassah Special Report