The Amir asked deputy premier and minister of housing and development Sheikh Ahmad Al-Fahd Al-Sabah, Finance Minister Mustafa Al-Shamali and Central Bank Governor Sheikh Salem Abdulaziz Al-Sabah to study the law in order to reach a solution that is satisfactory to all parties, according to Muwaizri. The law stipulates that the government forgive the interest on loans estimated at more than KD 1.5 billion, and then reschedule repayment of the principal loans, estimated at KD 5.2 billion, over at least 10 years.
The government has said it will recommend to the Amir to reject the law and send it back to the Assembly because it breaches the constitution and that it will have grave consequences on the economy and banks. The Amir received 11 lawmakers who wanted to plead with him not to reject the law. The Assembly can override the government’s rejection with a fresh two-thirds majority vote or 44 votes, or delay the voting until the next term in October to pass it with a simple majority.
MP Adnan Al-Mutawwa however said that his understanding of the Amir is that the only solution to the loans problem must come through the defaulters’ fund set up by the government last year with a capital of KD 500 million. Mutawwa called on lawmakers to review the defaulters’ fund law in a bid to improve it for the sake of serving people’s interest.
MP Hussein Mizyed said that the Amir has promised that the government will find a lasting solution to the plight of around 100,000 bedoons living in the country. On his part, MP Askar Al-Enezi submitted a draft law calling on the government to grant citizenship to 2,000 people in the current year. The law is intended to naturalize some of the bedoons.
In another development, the financial and economic affairs committee has decided to delay its debate of the privatization draft law for one month at the government’s request in order to allow it to submit its remarks on the bill, which has been in the Assembly since 1992. The bill lays the framework for the privatization of certain government utilities and establishments. Sheikh Ahmad on his part vowed that 2010 will be the year of mega projects in which the wheels of development will roll.
Meanwhile, the Assembly holds a special session today to debate the government’s five-year plan amid some opposition from MPs about the nature of the plan and the projects it includes. Some MPs are objecting to the fact the plan has already been reduced to four years instead of five, since the first year has already elapsed.