Kuwait postal sector to be privatized

A specialist team has been assigned the task of privatizing the postal sector,’ Al-Watan daily quoted Assistant Undersecretary for Postal Sector at the Ministry of Communications Saud Al-Asosi as saying.

There are several steps in privatizing the sector and the first step will be to establish a joint-stock company, he said, adding ‘the government will be the major shareholder and a certain percentage of the company’s shares will be floated for public subscription.’

The assistant undersecretary assured that all the 1,600 employees of the sector will retain their jobs even after the privatization and the company might recruit additional employees. ‘But the ministry will do the supervising and monitoring role and the company will have to abide by the conditions, terms, ministerial decisions and international postal regulations,’ he noted.

Asosi was optimistic that the change will boost the postal sector and will save the ministry a lot of expenses.