MUSCAT, May 14 - Majlis Ash’shura on Monday expressed utmost greetings to His Majesty Sultan Qaboos on the advent of the holy month of Ramadhan, praying to the Almighty to protect His Majesty, grant him good health, happiness and long life and for the return of this and similar occasions on His Majesty, and the Omani people and the Islamic nation blessing and bounties. The chairman expressed the council’s denunciation of the shifting of the American Embassy in Israel to Jerusalem, saying that the move is against international law and undermines the peace efforts and the two-state solution.
Dr Salih bin Said Masan, Chairman and Rapporteur of the Economic and Financial Committee, reviewed a panel’s report on the performance of five state-owned companies including Oman Air, Haya Water, Oman Oil Company, Oman Tourism Development Company (Omran) and Oman Oil Refineries and Petroleum Industries Company (Orpic). The study looked into the performance and evaluation criterion for companies and the government subsidies from 2012 to 2015. The study concluded that all the five state companies operating in key economic sectors are making cumulative losses over the past years. The major causes behind losses lie in the administrative and structural defects.
The study also pointed out at other reasons, such as constant payment of bonuses, which are not based on productivity and lack of risk management departments in these companies. The report estimates the losses between RO 100 to RO 150 million. The study recommended setting up of an independent administrative body responsible for management of all government investments, restructuring the flabby oil sector and committing the government to subsidise the companies within the approved budget. The council approved the recommendations of the study and referred them to the government following an elaborate discussion.
Amir bin Abdullah al Ansari
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