Privatization of public companies' law in Kuwait

Deputies of Kuwait's parliament confirmed that a law to control the privatization of strategic services might be examined during March, after a report concerning this law was presented to the parliament's financial committee.

Abdel Wahab El-Haroon, a member of the parliament's financial committee said: "The priority now is for the 'employment law' and the hopes that it will be discussed during March or April."

The 'employment law' will open the door for many opportunities, such as the selling of state companies to the private sector, among which there are vital services like communications and water with subsidized prices. The law does not include the oil sector.

Since the first stage of the law was enacted in 1994, the government has sold shares in 25 local companies worth about $3 billion.