October 12, 2022 finance & economy

MoCI, manpower authority jointly coordinate to minimize labor costs in Kuwait


KUWAIT CITY, Oct 11: The Ministry of Commerce and Industry is in a joint coordination with the Public Authority for Manpower to limit the rise in wages for construction workers locally in light of the high prices witnessed by the sector globally. The ministry is working to achieve this goal by facilitating the issuance of licenses for construction companies that contribute to increasing the employment rate in the market and thus limit the rise in wages, in addition to providing the necessary goods, materials and related services and meeting the country’s needs for them at reasonable prices. In this regard, the Ministry of Commerce and Industry Undersecretary Mohammad Al-Enezi told KUNA that the ministry is making efforts in coordination with the manpower department to reduce the rise in wages of workers in the construction and building sector to benefit the consumer.

Al-Enezi added that the ministry’s role is limited to renewing and issuing licenses for construction and contracting companies and ensuring the creation of the necessary licenses that allow the recruitment of workers. He pointed out that the state has taken actual steps to minimize the impact of these high costs on the consumer by providing support to citizens through the necessary construction materials, and to build the residential areas allocated to them, not exceeding 30,000 Kuwaiti dinars (about USD 96,000) and covering their needs.

Al-Enezi added that the ministry has taken actual steps to mitigate the repercussions of price hike on citizens by issuing a decision to open the door to importing building materials from outside the country on a personal basis, which leads to creating a competitive environment that helps reduce prices in the local market. He stressed that “the prices of the main building materials in Kuwait are the lowest compared to neighboring countries, especially at the level of iron, wood and cement,” adding that “the rise in international prices in general affects the local market.”

arabtimesonline



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