By B Izzak

KUWAIT: The National Assembly financial and economic affairs committee discussed on Tuesday a draft law requiring that the government purchase consumer loans of Kuwaiti citizens against a symbolic repayment scheme. The government informed the panel that the total value of consumer and personal debts owed by Kuwaiti citizens is KD 14 billion and the total cost of the entire process could go as high as KD 23 billion.

MP Saleh Ashour submitted a proposal stipulating that the government should purchase the loans against deducting the cost-of-living allowance monthly to reduce the huge financial debt on Kuwaitis. Ashour said after the meeting that the panel will continue discussing the subject on Thursday, when the government is expected to provide its opinion on the issue.

The committee also discussed another bill proposing to raise the minimum retirement monthly pay to KD 1,000. The government had informed the Assembly that as many as 37,300 retired Kuwaitis receive a pension of under KD 1,000. Ashour said the Public Institution for Social Security showed a positive response to the proposal but demanded one month to provide full details about the issue. The committee insisted that the social security agency should provide the required details and figures before Thursday's session.

Head of the committee MP Shuaib Al-Muwaizri said the panel is expected to vote on a number of issues on Thursday and send their reports to the Assembly for debate. The Assembly will hold its regular session on Tuesday to debate a number of issues and draft laws, including a draft law on conflict of interests.