By: Ramy Sameeh
Abu-Dhabi: Kuwait may announce a reduction in fuel subsidy, Nizar Al-Adsani, CEO of state-owned Kuwait Petroleum Corporation said on Tuesday.
The subsidy cut may be announced before the end of the first quarter of 2016, in line with our intention to gradually lift the subsidy, Al-Adsani said on the sidelines of World Future Energy Summit 2016 which is held in Abu Dhabi.
The government is seeking rationalise its fuel subsidy by appointing an international consultant to raise fuel prices in order to put a limit to budget deficit, added the CEO.
