(Image source from: Kuwait may reduce petrol subsidy this quarter})

Domestic price subsidies for gasoline and kerosene can be reduced in Kuwait by the end of March, chief executive of the state oil firm Kuwait Petroleum Corp, announced on Tuesday.

Nizar al-Adsani, chief executive of the  state oil firm Kuwait Petroleum Corp, said during the panel discussion at an energy industry conference, that, "The Kuwait government gives huge subsidies. Subsidies will be taken out gradually. In the first quarter of 2016, there will be something on subsidies on gasoline, kerosene."

The Kuwait government said that, they will be introduced cuts in domestic price subsidies for gasoline and kerosene and will use the subsidy money to enhance the state’s economy, which has weakened due to the low prices of fuel.

Nandini