KUWAIT: Kuwait Investment Authority’s board of directors is currently studying a strategic plan by Kuwait Public Transport Company (KPTC) suggesting increasing its capital to handle the losses it has been suffering over the past few years to restructure and revive its bus fleet, well-informed sources said. The proposed strategy, which is expected to be approved, would take 3 to 5 years to revive KPTC’s status as a leader and pioneer of the local public transport sector, the sources added. “Keeping the company as it is will only mean more losses of public funds,” the sources stressed, pointing that restructuring the company and modernizing its fleet will increase its value in the event of selling it to a strategic investor in the future.
The Public Authority for Housing Welfare said the total number of housing units in South Sabah Al-Ahmad project is 10,663, distributed over six out of the city’s 11 districts. The authority explained that the project also includes 545 public buildings. In addition, the authority said the total number of housing applications made until the end of October is 87,828. The authority distributed 51,000 units in the period of 1956 to 1992, while 102,000 units were distributed in the period of 1993-2019.
By A Saleh