Boost investment for Oman's economic growth: Majlis panel

Business Monday 13/June/2016 22:05 PM
By: Times News Service
Boost investment for Oman's economic growth: Majlis panel

Muscat: Given the task of studying economic crisis and its effects on the Omani society, the Majlis Al Shura committee has come out with a number of recommendations.
The members of the committee gave their inputs and remarks which include encouraging investment, providing investment friendly environment, revising some of the laws to regularise the labour market and reconsider some government projects.
Majlis Al Shura Committee for studying economic crisis and its effects on the Omani society held its 12th meeting yesterday under the chair of Tawfiq bin Abdul Hussain Al Lawatia.
The Committee discussed the draft report prepared by it. The report includes a number of recommendations and proposals that are likely to alleviate the financial burden on the general treasury and the rationalisation of the public expenditure.
The report covers the study on the measures taken by the government in response to oil price dip in the world market, the effects on the state budget and the viable options for the government in case of continuous oil price dip.
The report reviews the outcomes of hosting a number of officials including Executive President of the Central Bank of Oman, the Deputy Secretary General of the Supreme Council for Planning and the Undersecretary of the Ministry of Social Development.
At the end of the meeting, the Committee approved its final report . The report will be submitted to Majlis Al Shura for discussion in the coming sessions.
Distribution of land
Meanwhile, Shura held its 21st regular meeting of its 1st annual sitting of its 8th term under its chairman Khalid bin Hilal Al Ma’awali..
The meeting reviewed a number of topics including the reply of the Council of Ministers on the request to discuss with the Minister of Housing the mechanism followed in the distribution of land plots allocated for fuel stations on Muscat Expressway.
The Council of Ministers reply pointed out that getting land plots for petrol stations on Muscat Expressway will be through tenders, as per the provision of sub article 3 of article 1 (bis) of the Governmental Land Entitlement System.
As for the approvals, some of them were given in response to the royal orders as compensation for some individuals for equivalent land plots.
Omani Penal Law
The meeting also discussed the report of the joint committee with the State Council on the draft Omani Penal Law.
The office decided to invite Majlis Al Shura to hold a session on June 19 to discuss the articles highlighted in the joint committee meeting.
The meeting also reviewed the circular sent by the chairman of the Arab Parliament to Majlis Al Shura at which he thanked members of Shura for their sincere efforts during their participation in the main and sub-committees of the Arab Parliament.
Food, water security panel Food and Water Security Committee at Majlis Al Shura held its 12th meeting of the 1st annual sitting of the 8th term under the chair of Hilal bin Said Al Yahya’ee, Head of the Committee.
The Committee completed its final report on review of mechanism related to subsidising food commodities and their availability to the consumer.
The committee, through the study, hosted several government agencies that oversee the subsidy process for food and fodder and the companies that receive subsidy of about OMR35 million each year of the 9th five-year plan.
The Committee also reviewed the general and specific recommendations of the report for each of rice, sugar, flour and fodder.
The Committee discussed the preparations for themes of the ministerial statements of the 2nd annual sitting.