Parliamentary Committee Approves Bill Providing for KPC's Investments and Projects to Be Overseen by the Audit Bureau

摘要

On 22 September the parliamentary economic and financial affairs committee approved a bill that would provide for the investments and projects of Kuwait Petroleum Corporation (KPC) and its subsidiaries to be submitted to the oversight and control of the State Audit Bureau (SAB). The committee's chairman, Mr. Yousef al-Zalzala, explained that a report would be presented to the National Assembly which would be voted into law during the next parliamentary session. Mr. al-Zalzala added that the committee had thus approved amendments to three clauses of Law No. 6 of 1980, which created KPC, aimed at requiring the company to account for all its past and present investments.