MUSCAT: The Financial Affairs and Energy Resources Council met at the Ministry of Finance on Monday under the chairmanship of Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, council’s Deputy Chairman. The council reviewed a range of issues, including recent developments in oil prices and its possible implications on the state budget for the fiscal year 2019. Further, the council reviewed a number of precautionary fiscal measures to address any sharp drop in prices compared to the estimated budget rate to ensure compliance with the estimated deficit and not exceeding it. The council also discussed reports on privatisation process in the energy sector, amendment of some regulations related to participation of non-Omani companies in future electricity projects, and others.
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