Kuwaiti Minister Hind al-Sabeeh:

No damage to affect consumers by co-op privatisation

GMT 10:57 2015 Wednesday ,07 January

Arab Today, arab today No damage to affect consumers by co-op privatisation

Kuwaiti Minister Hind al-Sabeeh
Kuwait - Arab Today

Minister of Social Affairs and Labor Hind Al-Sabeeh stressed that "no damage" will touch shareholders and consumers once her ministry's plan to privatize the nation's chain of cooperative societies is put in effect.
Al-Sabeeh, who is State Minister for Planning and Development, said prior to privatization, extensive studies are being made to ensure its viability and success. She called on "not to pass judgment" before making the plan an actuality.
The minister made these remarks during her meeting with a number of citizens at Mubarak Al-Kabeer governorate, on Tuesday, which was organized by its governor General Ahmad Al-Rejaib.
Privatization of cooperative societies would lessen the impact of exiting corruption that tends to benefit some at the expense of consumers and products quality, she expected.
She added that the plan will be tried at one co-op to study the negative and positive impacts of this approach before applying it to others.
Privatization of cooperative societies is part of the nation's five-year development plan which runs from 2015 through 2020.
Co-ops are located throughout Kuwait, with government financial support, that act as neighborhood shopping centers offering supermarkets, bakeries, hardware stores, and the like.
Source: KUNA

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