Al-Garhy said: "Al-Sisi's government made bold decisions, including, opening the door for private sector to produce and import gas as well as restructuring subsidisation
, no one can deny that.
An analysis of biomass electricity generation subsidisation
(feed-in tariffs, quota systems and auctions) by country (for the world's most important markets).
Kuwait needs to reduce subsidies by at least 15 percent in two years, according to the emirate's finance ministry, with sources saying earlier this month that there was a "general agreement" among a specialised committee that the country needs to make the cut while maintaining subsidisation
rates for basic services.
Whereas, in principle, there is nothing wrong with a bank rationalising its position, streamlining operations, and leveraging economies of scale, there is a danger that, if a bank retreats too far from where it has expertise, cross subsidisation
will be reduced, and if the bank wishes to maintain its balance sheet, customers may pay the price.
He added that the current subsidisation
system has been in use for more than thirty years and that when the system was first put into effect, it was aimed at less than half the population now.
According to trade rules it is possible to impose provisional anti-subsidy duties within 9 months, provided there is sufficient evidence of subsidisation
, added the statement.
The suggested changes are part of a three-year review by the Gambling Commission, which says: "The proposed fees structure will be fairer, removing subsidisation
of some larger operators by smaller businesses and cross subsidisation
of certain industries has continued,and loopholes in regulations have been ruthlessly exploited.