The trigger for the management sweep-out and Mr Husain’s resignation was an International Chamber of Commerce ruling for KPC to pay $2.2bn compensation – over $1,200 per Kuwaiti – to US firm Dow Chemical over a cancelled petchems JV.
MPs insisted on grilling Mr Husain before 16 June when the court may issue a verdict that triggers the dissolution of parliament, even while agreeing to put back planned ‘grillings’ of other ministers until parliament reopens following its summer break. One insider says the MPs attacked Mr Husain to position themselves before any fresh election triggered by the possible court ruling. Multiple sources describe Mr Husain as articulate and combative – not someone who would quit easily or be intimidated by MPs asking questions he could answer easily. A former senior KPC official who is close to Mr Husain, however, says Mr Husain judged that the strong, personal media attacks against him and a social media campaign – some of which would be considered libelous in countries with tougher anti-defamation laws – would result in a parliamentary vote of no confidence in him. The treatment of Mr Shimali – has was insulted by MPs in the ‘grilling’ – suggests that Mr Husain’s judgment was correct. Despite his resignation, MPs have continued to attack Mr Husain, demanding criminal action against him over the failed $17.4bn Dow Chemical JV, K-Dow. “We cannot remain silent on this issue. The former minister must be referred to court because of the record robbery,” one MP said. Another said “I will file a criminal lawsuit against Husain and all officials who took part in the payment of the penalty.” (CONTINUED - 541 WORDS)