The President of the Federation of Consumer Cooperative Societies, Dr. Saad Al-Shabu, affirmed that the Federation categorically rejects any privatization or investment in cooperative societies, as it would lead to the destruction of the distinguished and long-standing cooperative structure. He pointed out that they are working with the Ministry for the benefit of both the cooperative movement and consumers, as our success depends on their success, and vice versa.
In a press statement responding to a question about the existence of struggling cooperative societies, Al-Shabu said that flaws and shortcomings exist in all institutions, even family-owned ones. He believes that there are those who seek to undermine and distort the cooperative work in the country by stirring up and exaggerating this issue for personal and material gains. He questioned: What is the problem with having two struggling societies out of 58?
Al-Shabu called on the Ministry of Affairs to first investigate any complaint submitted to it regarding problems and violations in the societies through the financial and administrative supervisor before forming investigation committees to verify the validity and credibility of the complaint, especially since many societies have suffered injustice due to not receiving recognition because of the existence of investigation committees, even if the results of the investigation show that there were no violations. He stressed the need to refer those found guilty to the Public Prosecution for accountability.
Al-Shabu attributed the success and prosperity of the cooperative movement in the country, as evidenced by the continuous increase in annual sales recorded by the societies, to the presence of competent individuals within the boards of the societies who are always keen to take responsibility and also protect the funds and rights of shareholders. He pointed out that this does not mean that there are no flaws and violations in some cooperative societies, which require the Ministry to follow up on them continuously.
He said that the Ministry of Affairs is responsible for monitoring all negative issues and correcting the mistakes that appear in the cooperative sector, as the more monitoring there is, the more positively it will reflect on the functioning of this important sector, which Kuwait has distinguished itself with compared to all other countries in the region and the world. He added that these countries view Kuwait's experience in the cooperative field as an example to be followed always.
He revealed that the Federation was able to pay one million dinars of its outstanding debts to the Ministry of Finance in seven months, out of a total of two and a half million dinars. He announced that the total sales of all cooperative societies in the country this year could reach one billion dinars, compared to 850 million dinars last year.
Al-Shabu expressed his thanks and appreciation for the role and efforts of the Minister of Affairs and the Undersecretary of the Ministry in promoting everything related to the cooperative movement in the country through communication with the Federation.
"Ministry of Affairs" dissolves the board of directors of Abdullah Al-Mubarak Cooperative Society
Bushra Shaaban
The Minister of Affairs, Hind Al-Sabeeh, issued a ministerial decision to dissolve the board of directors of the Abdullah Al-Mubarak District Cooperative Society and appoint Fayez Al-Ali as the temporary director of the society for a period of one year, during which the general assembly will be convened to elect a new board of directors.