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Ministry encourages youths to launch new innovative projects

No need to raise fuel prices: Oil Ministry

KUWAIT: Undersecretary of the Ministry of Oil Sheikh Nimr Fahad Al-Malik Al-Sabah on Wednesday emphasized on alluring youth to set up new innovative projects in the ministry’s sectors. In a speech during the ministry’s prize festival, Sheikh Nimr Al-Sabah stressed the need to inspire individuals to increase pioneering schemes, in line with the national strategy objectives and the country’s position.

The Ministry believes in the strong partnerships and institutions in order to achieve a sustainable society, he said. He referred that the prize is organized for the second year in a row, indicating that the ministry seeks to back youth and their rights as they are the core of progress and prosperity, and encourage them to adopt new ideas.

Promising youth are the future of Kuwait, which has minds interested in innovation, he said, adding that enabling creative persons will be a fertile environment for knowledge economy. The prize came in harmony with the ministry’s efforts aiming to support innovation and digital revolution, and develop employees and encourage them for excellence, he said.

Meanwhile, head of the ministry’s public relations and media department Sheikha Tamader Khaled Al-Ahmad Al-Sabah said the ministry seeks to invest in youth and upgrade their skills and knowledge. She stressed the importance of making universities’ youth be ready to create partnerships among students and the oil sector to develop their skills and abilities. The winners will contribute to facilitating work and fulfillment inside the ministry, she said. The ministry is keen on providing continued support to youth in all sectors and providing all tools and methods to enable them to offer abilities and skills to serve their country, Sheikha Tamader concluded.

Oil sector informs

In a new report submitted to the Council of Ministers, the Oil Ministry announced there is no need to raise fuel prices currently in response to a request from the government whether fuel prices need to be increased within a series of government reviews of the prices of services provided, as well as the prices of state property, which were recently reviewed.

“The government seeks to increase the revenues of the state’s non-oil general budget, which has made ministries re-price their services in line with needs, as well as their compatibility with the real cost of services provided. The oil sector responded to the government that current gasoline prices are appropriate, under control of the Kuwait Petroleum Corporation, as well as its sales are very appropriate and gasoline production is suitable for consumption” sources revealed to Kuwait Times.

“Moreover, the report did not reject the increase in the future, but rather attributed it to the circumstances and developments. If the circumstances require the increase, the Kuwait Petroleum Corporation will request a decision from the Council of Ministers approving the price increase by a proportion commensurate with production and cost,” they added.

“The government assigned the Ministerial Economic Committee to study the extent to which the increase in government service prices reflects on public prices in Kuwait as well as its effects on the local market,” calling on concerned ministries to tighten their control over the markets in order to prevent any increase, and to hold each party that goes to this path accountable. – Agencies

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