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Kuwaiti Government, National Assembly, considers direct privatization of KAC
The Government and National Assembly in Kuwait have agreed to privatize the Kuwait Airways Corporation (KAC) by directly handing it over to private sector, revealed the Kuwaiti Minister for National Assembly and Housing Affairs, Abdulwahed Al-Awadhi.
This announcement was made by Al-Awadhi after he attended a meeting of National Assembly Committee for Financial and Economic Affairs, which discussed the potential of the National Air Carrier into a Company. The Parliament and the government agree in evaluating the assets, and then offering it to private sector, said the Minister.
He also mentioned that the KAC relevant law will have a new item that provides future control over the performance of the firm, so that the Board of Directors of the company will have a free hand in developing it.
The Head of Parliamentary Committee, Ahmad Baqer, is said to have agreed with the government on direct privatization of the company, rather than turning it into a company in which the state will own a stake. He also revealed that the Committee has recommended two of the leading specialist companies in the world, for entrusting the evaluation of KAD’s assets and its subsidiaries.
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