Tuesday, May 29, 2012
Tuesday, 29 May 2012: Cabinet decides probe panel over K-Dow row
KUWAIT: The Cabinet has decided to set up a probe panel to look into everything related to the controversial K-Down deal between Kuwait's state-owned Petrochemical Industry Company (PIC) and American Dow Chemicals….
Kuwait has a continuing policy of, “shut the barn door after all the horses have escaped”. Panels, committees, councils = Zero. Talk is cheap. Well, oops, not really: This deal back-out may have just cost 2.16 billionin fines (not to mention something like 5,000 jobs for Kuwaitis).
For those of us actually trying to bring business to Kuwait, it is extremely disheartening. How can you promote Kuwait to foreign organizations when the case studies against good business practices mount up every year? Disgraceful.
Alwatan Newspaper has a very good editorial today by Dr. Shamlan Al-Essa, titled, “Encroaching on the Jurisdictions of Other Authorities." I like his thinking a lot.