MPs propose cash handouts for Kuwaitis

0 Comments | AFP, February, 2006

KUWAIT CITY (AFP) — Five Kuwaiti lawmakers proposed the creation of a fund to distribute cash handouts every year to citizens of the oil-rich state potentially worth several billion dollars in total.

The fund, which would be named after late emir Sheikh Jaber al-Ahmad al-Sabah, would take 25 percent of the net profit earned from state investments currently estimated at more than 100 billion dollars, they said.

The cash would be distributed equally to all Kuwait's fewer than one million citizens, although money for children would be deposited in special saving accounts until they reach the legal age.

To become effective, the proposal must be passed by the elected parliament and signed by the current Emir Sheikh Sabah al-Ahmad al-Sabah.

By law, 10...