Proposal to raise prices of industrial services, plots by up to 40%: Kuwait

Proposal to raise prices of industrial services, plots by up to 40%: Kuwait

Within the framework of the government’s approach to re-pricing its services, and in order to increase public revenues, informed sources revealed that the Public Authority for Industry (PAI) is studying a proposal that, if implemented, would lead to increasing the prices of industrial services and plots of all kinds by rates ranging between 16 and 40 percent, which is in line with the economic standards and principles and the requirements of competition locally and in the Gulf region, reports Al-Rai daily.

The study on re-estimating the rent for using plots and fees for services provided by the authority includes proposals and recommendations regarding fees for about 315 services, most of which are increased.

The applied fees included reductions such as those who obtain a “To Whom It May Concern” certificate, which was reduced from KD 6 to KD 5. The Shuaiba Industrial Zone is the largest area affiliated to PAI in terms of area. It is dedicated to manufacturing industries. Its area reaches about half the area of all the areas that include manufacturing industries in Kuwait, amounting to about seven million square meters. The study suggests increasing the allowance per square meter in ready-mix vouchers from KD 1 to KD 1.2.