Al-Sabeeh refutes claims of condoning privatizing coops

Minister of Social Affairs and Labor and Minister of State for Planning and Development Affairs Hend Al-Sabeeh
Minister of Social Affairs and Labor and Minister of State for Planning and Development Affairs Hend Al-Sabeeh

KUWAIT, March 16 (KUNA) — Minister of Social Affairs and Labor and Minister of State for Planning and Development Affairs Hend Al-Sabeeh refuted on Wednesday claims she contemplated privatizing cooperative societies.
In a rejoinder to the grilling directed at her earlier today by MP Saleh Ashour, Minister Al-Sabeeh affirmed that she was a proponent of coops and valued their services to society. She said during her administration, coops have prospered enormously, posting in 2015 more than KD 57 million in profits, a far cry from KD 38 million in the years before she took the helm at the Ministry of Social Affairs and Labor.
She said the strong performance of the coops was due in a large part to their oversight by the Ministry as evidenced by the appointment of a financial monitor and an administrative supervisor by the Ministry in all 58 coops of the nation.
With regard to Al-Dasma coop, which has experienced difficulties, Al-Sabeeh said its problems were being addressed and that the coop’s general assembly last February agreed to submit the coop’s properties to being invested by outside investors in a bid to bring the coop back to solvency. She noted that the Al-Dasma coop has been running large deficits, going back to 2004, so that by 2014 the deficit ran into six million Kuwaiti dinars.
She stressed that the cooperative movement was progressing well and that the Ministry she headed was working for the best of the coops and the society together. (Pick up previous) jy.ajs