KuwaitOther News

Fuel, energy fare increase could raise product prices

UWAIT: Increasing the prices of fuel and electricity will lead to increased prices of certain products due to the subsequent rise in production cost, the Ministry of Finance said in a recent report.

The ministry had studied the effects of applying recommendations of a recent Ernst & Young study which recommended lifting subsidies on energy and gas directed to certain categories of the Kuwaiti society, the report said.

The ministry also indicated that a program was needed to ‘alleviate the impact’ of inflation on families with lower incomes, who might be forced to spend more on energy, gas and some food products, thus hindering their ability to spend on other basic material. — Al-Qabas

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