Muscat: The effects of applying cost-reflective electricity tariff on local industries and to find a mechanism to attract new investments to the industrial sector in Oman were discussed at a major workshop on Sunday.
The meeting came out with a number of recommendations to look into factories that consume more electricity, measure the damage to them and to create an incentive mechanism for them to continue.
A working group will be formed with all parties concerned for the implementation of the said recommendations as the industrial sector is one of the most important sectors that promote economic diversification in Oman according to Oman 2040 Vision.
Besides, the working group will be inviting industrialists and businessmen to discuss their challenges with direct officials in the electricity sector.
The Public Services Regulatory Authority will consider lowering the consumption ceiling for factories to which the tariff-reversal is applied from 150MW to 100MW, to reduce the number of factories to which the new cost is applied, Engineer Sami bin Salem Al-Saheb, Director General of Industry at the Ministry of Trade, Industry and Investment Promotion, said.
He further said that the Working Group will comprise of officials from the Director-General of Industry at the Ministry of Trade and Industry and Investment Promotion, the CEO of the Public Establishment for Industrial Estates (Madayn), the CEO of the Oman Chamber of Commerce and Industry (OCCI) and the General Director of Subscriber Affairs of the General Services Regulatory Authority.
The joint team will look into the previously mentioned recommendations and studying them to come up with a common vision within the next few months.
The key workshop was held to discuss the challenges facing the industrial sector in the Sultanate.
The Ministry of Trade and Industry and Investment Promotion seeks to build on the outputs of the Industrial Strategy 2040 within the tenth five-year plan 2021-2025, with a special focus on improving the energy efficiency of local industries so that they can compete in regional and international markets.
The workshop was organised by the Ministry of Commerce and Industry and Investment Promotion in cooperation with the Public Services Regulatory Authority, the Omani Industrialists Association and the Oman Chamber of Commerce and Industry (OCCI).
It should be noted that the Ministry of Trade, Industry and Investment Promotion continues to support and support the existing industrial establishments by facilitating the process of purchasing their products in cooperation with the relevant authorities, according to specific criteria, the most important of which is their conformity with the specifications of the authorities concerned and the availability of the required quality.
In addition, the ministry is studying new industrial investment opportunities and attracting investors to enable these opportunities to become a tangible reality, as the manufacturing industries play an important role in providing long-term jobs for the national workforce.