Oman's Majlis Al Shura discusses private sector’s share to GDP

Business Tuesday 09/February/2016 22:46 PM
By: Times News Service
Oman's Majlis Al Shura discusses private sector’s share to GDP

Muscat: Private sector status, obstacles and challenges, upgrading its contribution to the gross domestic product (GDP) and the impact of the oil price slump and economy in general was discussed by the Economic and Financial Committee of Majlis Al Shura yesterday.
Hosting several experts and specialists on the economic matter, the Committee discussed a range of issues and challenges facing the Omani economy with Dr. Hatim bin Bukhait Al Shanfari, Eng. Salim bin Hamad Al Kemyani and Eng. Amer bin Hamad Al Sulaimani.
The specialists talked about the size of the economic problem being experienced by the Sultanate in light of the current economic indicators.
They also affirmed the necessity of finding urgent solutions and upgrading the contribution of non-oil sectors with the necessity of adopting policies and facilitating procedures that would encourage the private sector and enhance its vital role in the national economy.
This came during the 14th regular meeting of the 1st annual sitting (2015 – 2016) of the 8th term (2015 – 2019) under the chair of Saleh bin Said Masan, Head of the Committee.
Food and water security
The Food and Water Security Committee at Majlis Al Shura continued hosting several concerned agencies within the framework of its study to the proposal on amending the Law on the Protection of Marine Fishing and Living Aquatic Resources issued by the Royal Decree No. 53/81.
The Committee discussed amending the law with representatives of fish companies from Oman Chamber of Commerce and Industry (OCCI) during its meeting under the chair of Hilal bin Said Al Yahya’ee, Head of the Committee.
The Committee’s members listened to comments and visions on items of the current law that aims at regularising fishing affairs. In this regard, the specialists agreed with the opinion of the Committee’s members on activating the Council of Living Aquatic Resources Management.