Move to lift PIFSS interest on loans granted to retirees – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 09-Dec-2022
- Source: Arab Times Kuwait
- Sector:Financial Services
- Country:Kuwait
Move to lift PIFSS interest on loans granted to retirees – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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KUWAIT CITY, Dec 8: MP Saleh Ashour has submitted a bill on amending Public Institution for Social Security (PIFSS) Law No. 61/1976 in order to cancel the interest on loans granted to retirees as per the fundamentals of the institution, which exclude charging of interest on retirees’ loans. MP Abdulkareem Al-Kandari submitted a bill on amending the Public Tenders Law to cancel the local agent requirement. He explained this requirement led to the delayed implementation and disruption of development projects, as well as additional expenses for the State treasury due to variation orders estimated at almost 30 percent of the original cost. He also confirmed that his colleagues – Muhannad Al- Sayer and Hassan Jowhar – signed the bill.
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