Highlights
Council of Ministers okays ninth Five-Year Plan, 2016 Budget
The Cabinet on Wednesday approved the Ninth Five-Year Plan (2016-2020) and the 2016 General State Budget.

The Cabinet on Wednesday approved the Ninth Five-Year Plan (2016-2020) and the 2016 General State Budget.
The Council of Ministers has approved the ninth Five Year Plan (2016-20) and the 2016 State Budget.
In a meeting held on Tuesday the Council also reviewed replies of the Financial Affairs and Energy Resources Council and the Supreme Council for Planning on two topics.
The Council of Ministers also approved a number of measures aimed at addressing the impact of the slump in oil prices. These include cutting down government spending, developing non-oil revenues by raising taxes on profits of companies and revising and raising fees payable against some government services, as well as revising the prices of petroleum products (oil products) in a manner that corresponds to global prices with effect from mid-January 2016.
To lessen the impact of these measures, the Council instructed the Public Authority for Consumer Protection to intensify its monitoring of prices to avoid unjustifiable hikes.
In a meeting held on Tuesday the Council also reviewed replies of the Financial Affairs and Energy Resources Council and the Supreme Council for Planning on two topics.
The Council of Ministers also approved a number of measures aimed at addressing the impact of the slump in oil prices. These include cutting down government spending, developing non-oil revenues by raising taxes on profits of companies and revising and raising fees payable against some government services, as well as revising the prices of petroleum products (oil products) in a manner that corresponds to global prices with effect from mid-January 2016.
To lessen the impact of these measures, the Council instructed the Public Authority for Consumer Protection to intensify its monitoring of prices to avoid unjustifiable hikes.
Continue Reading
-
Banking & Finance2 weeks ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Renewables2 months ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Bahrain1 week ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines1 month ago
OER, May 2025
-
Leaders Speak2 months ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Banking & Finance1 month ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
You must be logged in to post a comment Login