November 30, 2022 finance & economy

Silk City, Boubyan Island project remains a failure’


KUWAIT CITY, Nov 29: In its annual report on ministries and government departments, the State Audit Bureau highlighted the failure of the General Secretariat of the Supreme Council for Planning and Development to implement the program to develop the Silk City and Boubyan Island, despite spending sums amounting to KD 107,163 for forming many work teams. This indicates the failure in using the required amounts, reports Al-Rai daily.

The bureau indicated that the General Secretariat of the Supreme Council for Planning did not provide it with the required data regarding the recruitments and the work teams formed for the Silk City Development Program (Subiya) and Boubyan Island, which is in violation of Article 52 of the Law No. 30 of 1964 on establishing the State Audit Bureau and its amendments. In its notes on the sixth program for the development of the Silk City and Boubyan Island, the bureau explained that the secretariat paid monthly bonuses to some of those who used their services during the period from July 30, 2020 to April 4, 2021, of which KD 49,200 could be counted as unjustly.

All the desired goals of including appropriations for the development program of Silk City and Boubyan Island have not been achieved as a result of non-disbursement of some appropriations, and a decrease in the exchange rate on other currencies until the end of the 2021/2022 fiscal year, amounting to the total appropriations of KD 728,350, as the exchange rate reached 18 percent of the total funds allocated to the program.

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