Tuesday 23 / April / 2024
Muscat: Majlis Al Shura discussed the statement of Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs and Deputy Chairman of the Financial Affairs and Energy Resources Council on the state’s draft budget for the fiscal year 2018.
The discussion came during the 3rd regular session of the third annual sitting (2017/2018) for the 8th term (2015/1019) under the chair of Khalid bin Hilal Al Maawali, Chairman of Majlis Al Shura.
Minister Responsible for Financial Affairs and Deputy Chairman of the Financial Affairs and Energy Resources Council provided a detailed explanation of the state draft budget, its items, themes, the mechanisms for fusing certain public projects in cooperation with the private sector to ensure public interests and activate the role of the private sector. He also touched on the on going plans to restructure some public companies.
The questions of Majlis Al Shura focused on the state revenues, expenditure estimates, the economic growth rate, the financial status of the government, the government’s fiscal and monetary policies, the saving rates against investment rates, the subsidy for the public debt and the expected oil production and prices during next year.
They also inquired about the mechanisms that will be followed to employ 25,000 Omani job seekers, which came as translation of H.M the Sultan’s continuous interest in youth care and the decision taken by the Council of Ministers on 3rd October to avail 25,000 job opportunities for the national manpower at the public and private organisations in the Sultanate.
Al Balushi pointed out that a committee from the relevant public orgnaisations has been formed to develop the suitable standards to distribute this figure on the various public and private organizations and meet the development aims and the needs of these organisations.
