MPs submit more populist proposals for debt relief | Kuwait Times

KUWAIT: Two more MPs yesterday submitted proposals calling for the government to purchase an estimated KD 6 billion in bank loans of citizens and then waive the incurred interest before rescheduling repayment over a long duration. MP Khaled Al-Adwah and Khaled Al-Shulaimi joined Askar Al-Enezi and Nawaf Al-Fuzai in submitting bills to resolve the most populist problem that the government adamantly rejected to negotiate in the past but now appears to be ready for deals.

All the proposals basically call on the government to purchase the total consumer and personal debts owed to banks and financial companies estimated by the Central Bank around two years ago at over KD 6 billion. The bills also call for the state to waive all interest and then ask Kuwaiti debtors to repay the remaining part of the principal loan over many years, some put it at more than 15 years while others said the value of the installment should not exceed 30 percent of the debtors? monthly income.

The lawmakers also called for the state to raise the children?s monthly allowance from the current KD 50 for up to five children to between KD 75-100 for up to 10 children. In addition, the lawmakers have also proposed a monthly salary for Kuwaiti housewives to encourage more Kuwaiti women to stay at home to help raise their children.

The MPs also proposed that the housing loan, which is currently KD 70,000 given on almost interest-free basis, should be increased to KD 100,000 and that the loan for Kuwaiti women should be increased from KD 40,000 currently to KD 70,000. The housing loan is given once in a lifetime to help Kuwaitis build their own house and cope with the skyrocketing price of land in the country. More such bills are expected to be submitted in the coming few days and the bills are expected to be taken up for debate in the Assembly in the coming few weeks.

The National Assembly bureau yesterday marked the start of its business by taking a decision to send Assembly reporters back up to the public gallery instead of sitting in the chamber floor to cover proceedings. Since the start of the Assembly, journalists had always followed sessions from the ground floor where the lawmakers sit until about a year ago when former speaker Jassem Al-Khorafi moved them upstairs amid complaints from the reporters.

But when the opposition won the February election and Ahmad Al-Saadoun was elected speaker, he brought the journalists back to their original place. Observer of the Assembly Safa Al-Hashem said the decision to send the journalists to the upper floor ?brings back authority to the Assembly and will not affect the reporters? work?.

The legal and legislative committee meanwhile yesterday approved two decrees issued by the Amir when the Assembly had been dissolved. The first decree, called national unity decree, imposes harsh penalties including jail and hefty fines for those who spread hatred in the society. The second is a decree to establish a national authority for combating corruption. The panel has to study a large number of decrees issued in the past two months.

Meanwhile, the criminal court yesterday postponed until Jan 15 the trial of three former opposition MPs accused of undermining the authority of HH the Amir and criticizing him at a public rally on Oct 10. The three, Falah Al-Sawwagh, Khaled Al-Tahous and Bader Al-Dahoum, were detained for five days and then freed on KD 5,000 bail each.? In yesterday?s hearing, three of the defendants? colleagues testified in the court over the case.

By B Izzak, Staff Writer

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Source: http://news.kuwaittimes.net/2012/12/19/mps-submit-more-populist-proposals-for-debt-relief/

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