MP Riyadh Al-Adasani

KUWAIT: Opposition MP Riyadh Al-Adasani said yesterday that the size of assets in Kuwait's sovereign wealth fund is much higher than the $524 billion announced by the national assembly financial and economic affairs committee.

The lawmaker reiterated his opposition to government plans to borrow from the domestic and international markets to finance the budget deficits resulting from low oil prices.

He said that the government should instead stop squandering of public funds in many areas and also collect billions of dinars in government dues from the public and other sides.

Adasani said that the government has debt worth KD 1.3 billion, most of it held by the ministry of energy and electricity and water and the customs department.

He also said there are some KD 20 billion held by the government, half of it by the central bank, whereas the government should have transferred these funds to the sovereign wealth fund.

He also said that based on reports, government agencies has around KD 5.8 billion in cash inventory and there is suspicion of wrongdoings by some government departments.

Adasani said he strongly rejects any plan to impose any form of taxes in the country or making citizens pay for the government failures.

He described as ridiculous a proposal by pro-government MP Ahmad Al-Fadhl to form a committee to study grillings filed by lawmakers, saying that is an intention to amend the most important tool the constitution gives to lawmakers.

Meanwhile, the minister of social affairs and labor Hind Al-Sabeeh said yesterday that she was ready for any grillings within the framework of the constitution and laws. She was responding to threats by a number of MPs to grill her.

In the meantime, opposition Islamist MP Mohammad Al-Dallal yesterday warned of clear signs that the country was headed for another wave of reform protests like the one a few years ago.

He said at one stage, some thought that the protests have gone forever but certain quarters have taken harsh measures against the reformist youths to the extent of sending them to jail, adding that this may become the Launchpad for a new wave of protests.

By B Izzak