Improved rate of collecting dues from customers has allowed the Ministry of Electricity and Water (MEW) to attain a record collection so far this financial year.
Data on MEW made available by the Ministry of Finance show that an increase in collection rate by 15.7 percent has allowed MEW to collect around KD68 million in revenues during the period April 2020 to February 2021. However, during the same period the ministry’s total expenditures on all items amounted to KD 1.7 billion, for a spending rate of 65 percent compared to the KD2.5 billion approved in the ministry’s budget for the current fiscal year.
The ministry spent around KD299 million on compensation for its employees during the same period, with a spending ratio of 63.3 percent compared to KD471 million approved for covering the item in the budget. This included expenses on salaries, bonuses, allowances, and special bonuses for employees.
The report indicated that the ministry spent during the same period a total of KD1.25 billion on goods and services, with a spending rate of 82.2 percent relative to the KD1.5 billion approved for covering the item in the budget. This was used on purchase of oil and fuel for operating the electrical power stations and water distillation plants in the country.
The report also indicated that MEW spent nearly KD108 million during the same period on purchasing non-current assets, with a spending ratio of 19.4 percent compared to the KD555 million approved for this item in the budget and was used on the ministry’s various electrical and water projects.
The finance ministry report also indicated that the debts owed to MEW by other government agencies amounted to approximately KD229 million, while the debts owed by the ministry to other entities during the same period amounted to only KD59 million.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
