MUSCAT: The Ministry of Finance has launched the fourth phase of the National Registry of Government Assets Project (Osool), aiming to centralise asset management across 40 government agencies.
The inaugural meeting, attended by representatives from various entities, outlined the scope of the registry, which tracks assets such as real estate, machinery, and intangible properties. Abdullah bin Salem Al Harthy, Undersecretary of the Ministry of Finance, emphasized that the initiative seeks to optimize asset utilization, improve management efficiency, and generate additional revenue for the state budget.
Since its inception, Osool has registered over 467,000 assets, including lands, buildings, and equipment. The project’s next phase will further integrate government units, ensuring a unified approach to asset management and maximizing economic returns.
This initiative underscores Oman’s commitment to fiscal responsibility and sustainable development.
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