Lawmaker asks PM for details on state assets

Lawmaker asks PM for details on state assets

By B Izzak

KUWAIT: Opposition MP Muhalhal Al-Mudhaf sent a series of questions to HH the Prime Minister Sheikh Sabah Al-Khaled Al-Sabah asking for details about Kuwait's state assets including the future generations fund and the general reserve fund, both of which are managed by Kuwait Investment Authority (KIA). He demanded to know the value of the assets of the general reserve fund and future generations fund and crude oil reserves, in addition to real estate assets and the difference between the value of assets in March 2020 and March this year.

He also asked the prime minister the value of liabilities on the state, including construction projects, treasury bonds, arms purchases and others. The lawmaker also demanded to know the difference between the assets and liabilities and the geographic distribution of Kuwait's investments abroad.

Mudhaf's questions come after an Assembly session that was scheduled to discuss the state's financial status on Thursday was cancelled after Cabinet ministers walked out of the meeting when opposition MPs occupied seats reserved for ministers. Finance Minister Khalifa Hamada was due to brief MPs about the figures of state reserves, which are kept confidential.

Following the session, the minister said in a statement that Kuwait's official assets have