KUWAIT: The government plans to issue a decision soon on expanding the scope of citizens who can benefit from the National Fund for Small and Medium Enterprises (SME) Development, said official sources. This step comes in view of the extremely limited demand for the fund's services, as the total spending on entrepreneurial projects so far is only KD 6 million out of the fund's KD 2 billion capital, they noted. The sources explained that the government is considering including retirees and providing them with capital needed to start their projects to revive local markets and create more job opportunities for Kuwaitis. The sources also noted that the fund would impose fines on Kuwaiti entrepreneurs who sublease the projects to expats and those who do not hire citizens.

KD 1.5 million

The Public Authority for Housing Welfare collected KD 1.5 million in fines from contractors who are behind schedule in executing housing projects currently under construction, said informed sources, explaining that the fines were collected as per penal clauses in the contracts of 29 projects.

By A Saleh