Middle East Economic Survey


No 24



Kuwaits Cabinet Approves Draft Law For Firm To Operate Privatized Gas Stations

Kuwaits cabinet on 6 June approved a draft law to set up a public shareholding company called the First Company for Local Fuel Marketing. After a gradual privatization scheme is completed, Kuwait Petroleum Corporation (KPC) will hold 24% of the shares, while the remaining 76% will be sold to the public. In the first phase of the privatization scheme, 40 out...