Finance Ministry launches Supply Chain Financing scheme

Muscat: The Finance Ministry has launched a Supply Chain Financing Scheme to facilitate the payment of contractors and suppliers under contract with various Government units.

Ministry of Finance said: “The Supply Chain Financing (SCF) Scheme is one of the initiatives undertaken by the Ministry of Finance with the aim to improve liquidity management and facilitate the payment of contractors and suppliers under contracts - worth no less than OMR 100,000 - with various Government units.”

Objectives:
- Ensuring supply chain sustainability
- Facilitating the payment of private sector
- Support the private sector and encourage it to participate in - public tenders

The significance of the scheme:
- Fast and easy payment.
- Ensuring supply chain sustainability and expansion.
- Strengthening private sector participation in public tenders.