Muscat: The Oman Chamber of Commerce and Industry (OCCI) has taken initiative to extend all possible support to the private companies to meet the challenges that emerged out of COVID-19 situation.
As a first step, the authority that regulates the registration, activities, and operations of various companies and liaises with the Ministry of Commerce and Industry (MoCI), is carrying out a survey, asking the companies about their issues and areas that need urgent attention.
"This survey is the first step of investigation of the financial difficulties of companies, and we at the Oman Chamber of Commerce and Industry want to address the financial challenges and difficulties facing the Omani private sector companies in the COVID-19 scenario through this survey," an OCCI official said.
Any private company registered and operating in the country can inform the Chamber about the main challenges in their financial plans, in obtaining loans or even emergency loans.
Also, a thorough study on the availability of credit facilities, issues about the postponement of the installments, loan restructuring, and loan rescheduling are being studied.
"The private companies seeking the support from the OCCI will also be asked to furnish information related to the bank or banks they are dealing with, their main challenges in expenditures and costs, salaries, rents, government fees, taxes, and any other relevant areas," he said.
Private entities will also be asked to give in detail the reason (s) for the late payment of the dues there any dues for the company on government institutions.
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