Joint panel to identify points of agreement on draft law

Business Monday 25/June/2018 22:36 PM
By: Times News Service
Joint panel to identify points of agreement on draft law

Muscat: The State Council and Majlis Al Shura on Monday held the first joint session of the third annual sitting of the sixth term under the chair of Dr. Yahya bin Mahfoudh Al Mantheri, Chairman of the State Council, in the presence of Khalid bin Hilal Al Ma’awali, Chairman of Majlis A’Shura, honourable members of the State Council, members of Majlis Al Shura and Secretary General of the State Council.
In a speech, the Chairman of the State Council said the two councils had set up a joint committee to identify the points of agreement on the draft of the Mineral Wealth Law to come up with a unified vision on the remarks already made by the two councils.
The honourable members of State Council and members of Majlis Al Shura discussed the differences between the two houses in the draft law in a positive atmosphere full of constructive proposals and giving priority to the public interest to achieve everything that would achieve progress and development of the nation.
They stressed the importance of the law in supporting the growth of the mining sector, which is one of the five promising sectors focused on by the ninth five-year plan, pointing out that the development of the sector will contribute to enhancing its contribution to the GDP, which will positively affect the Omani economy and serve the overall development objectives.
“The convening of the joint session will strengthen the concept of the state of institutions and the principle of the rule of law,” said Dr. Khalid bin Salim Al Saeedi, Secretary General of the State Council.
He pointed out that there are specific mechanisms to discuss differences in views regarding the Mineral Wealth Law between the State Council and Majlis Al Shura.
For his part, Dr. Saleh bin Said Masan, Chairman of the Economic Committee in Majlis Al Shura, said in a statement that there are seven main articles that will be discussed today.
He explained that the convening of this meeting comes within the framework of complementarity between the two councils in order to reach the level of balance in the legislation.
Investment licences
He pointed out that the articles under discussion relate to the mineral wealth and revenues collected on this wealth in the public revenues of the State, on the side of the Public Authority for Mining through the granting of investment licences in this sector.
He referred to the discussion of licensing facilitation in order to stimulate investment and improve the business environment and open the way for small and medium enterprises to enter the sector.