KUWAIT: In yet a new bombshell, the opposition Popular Action Bloc yesterday strongly rejected the government-sponsored economic stimulus bill, describing it as an attempt to squander public funds and bail out influential people who committed investment blunders. The bloc also warned that it will "initiate constitutional means to question the government" if the bill is passed and implemented, an indirect threat to grill Prime Minister Sheikh Nasser Al-Mohammad Al-Sabah.
In a lengthy statement, the bloc said that the bill was presented by the government without accurate details and information and lacked transparent and professional measures to deal with the fallout of the global financial crisis on the country. It charged that the bill has been "tailored to allow the use of public funds to guarantee and repay debts of private companies that are either troubled, have made losses or are bankrupt as a result of mismanagement by their officials".
It said that most of those companies make no social contribution to the country and that some of them have begun dismissing national manpower or forcing them to accept a reduction in their pay. The statement recalled that the bloc had previously warned against bowing to pressure by influential people who have been trying to allow the use of public funds to rescue their interests. It stressed that the bill includes shortcomings and is "tailored to serve the interests of influential people and to protect exe
cutives who have harmed the companies and shareholders' rights".
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