MUSCAT: The Financial Affairs and Energy Resources Council (FAERC) held its 2nd meeting for 2018 at the Ministry of Finance on Wednesday under the chairmanship of Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, FAERC Deputy Chairman. The Council reviewed replies for remarks and visions of the State Council and Majlis Ash’shura on the financial frame of the state general budget for the fiscal year 2018 and the financial position. The replies were made in coordination with the concerned institutions and the Council approved to refer them to the Council of Ministers.
Further, the Council viewed the position of the public debt and advised adopting necessary measures to limit the growth of the public debt, in addition to seeking to reduce such debt as serving it would be a major burden on the state general budget. FAERC discussed fixing price for selling treated wastewater for some economic projects. It also viewed a report on privatisation programme of several government companies and investments. The Council also discussed other topics upon which appropriate decisions were taken. — ONA
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