His Majesty chairs Council of Ministers meeting
His Majesty Sultan Haitham bin Tarik presided over a meeting of the Council of Ministers at Al Baraka Palace today.
At the outset of the meeting, His Majesty the Sultan gave thanks and praise to the Almighty Allah for the bounties of security, stability and progress with which He endowed Oman. He prayed to the Almighty to grant all health, welfare and success.
Then, His Majesty reviewed local, regional and international conditions.
On the domestic front, His Majesty spoke about the ongoing government initiatives to achieve rapid economic growth and to finalise a comprehensive financial and investment system.
In this context, His Majesty gave directives to establish an investment fund, to be named the Oman Future Fund, with a capital of RO two billion.
The fund will seek to enhance economic activity and to encourage the private sector to enter into partnerships or finance viable investment projects in the sectors of economic diversification targeted by Oman Vision 2040.
His Majesty gave directives to allocate part of the fund's capital to stimulate bold investment in SMEs and startups registered with the Authority for Small and Medium Enterprises Development.
Speaking about the inauguration of the “Sultan Haitham City” in the Wilayat of A’Seeb, His Majesty said that the setting up of the project stems from a trend to establish modern cities to international planning standards, with integrated and interconnected facilities, equipped with all services to meet the needs of residents. His Majesty said the city seeks to ensure the stability of families and spearhead model development in building sustainable cities.
Acting from its keenness to providing proper health cover and manage it in modern ways, the Council of Ministers approved the establishment of a National Centre for Women and Children's Health in Sultan Haitham City.
Pursuing the attention accorded by His Majesty to the development of national competencies, the Council of Ministers approved the consolidation of the 2023-2027 External Scholarships Programme by introducing a scheme for training graduates who are capable of playing leading roles in various economic sectors. The candidates will be sent to top international universities to study in specialisations of importance for the future .
The scheme provides for 150 such scholarships over a period of five years, starting from this year (2023) to the tune of RO 36 million.
To encourage private higher education institutions to play a greater role in boosting the educational process, the Council of Ministers decided that such institutions which were given lands on a lease basis shall get full ownership of those lands, while at the same time receiving exemption from prescribed fees. This applies to institutions that meet the terms and conditions set for private higher education establishments.
To mitigate the cost of high electricity bills for citizens, particularly those on lower incomes, His Majesty gave directives to maintain a 15% discount on total electricity bills for all residential unit subscribers during the summer months from May to August 2023.
In the same context, the Council of Ministers also approved an increase in financial allocations within the housing assistance programme at the Ministry of Housing and Urban Planning. The increase stands at RO 26.4 million for the remaining years of the 10th Five Year Plan. The sum is allocated to construct housing units for people from distant villages, to move people from their areas of residence to safer places, to provide remote areas with public services and to establish service projects in them.
The Council of Ministers commended the efforts made by the authorities working with farmers in various governorates to encourage them to grow improved varieties of Omani wheat. The Council approved a plan to support local wheat production by allocating RO 5 million until the year 2027, as well as providing land for wheat cultivation on a usufruct basis in some governorates .
With the aim of operating more direct flights to and from Salalah Airport at competitive prices during the Khareef season, His Majesty gave directives to the relevant authorities to provide direct subsidies in fuel prices at Salalah Airport on a par with fuel prices at Muscat International Airport.
The Council of Ministers listened to a briefing about the progress made in initiatives of the National Employment Programme and the efforts made by the authorities to improve economic growth in general and to develop certain economic sectors. Accordingly, His Majesty gave directives to extend until December 2023 the payment of benefits from the Job Security System, for citizens whose services were terminated at private sector establishments,.
The Council of Ministers agreed to exempt small and medium enterprises (SMEs) from some fees prescribed by the Tender Board. This was made in pursuance of the support accorded to the SME sector, as a key pillar of the national economy. It is hoped that the SME sector will have a major role in contributing to the gross domestic product and employment of Omani citizens.
His Majesty also spoke about regional and international affairs. He reviewed bilateral relations between the Sultanate and a number of Arab and foreign countries. He underlined that Oman will continue to espouse its permanent positive neutrality, persisting in its endeavours to achieve security and stability for the region and to build bridges of cooperation with all countries.
At the end of the meeting, His Majesty touched on various aspects of concern to the country and its citizens. He wished citizens continued success in all that realises the good of the nation.
This is an unofficial English version of an Arabic report. To view the official Arabic text, click here.