RENEWABLE ENERGY, SOLAR POWER DISCUSSED

The Financial Affairs and Energy Resources Council on Sunday held its 6th meeting of the year under the chairmanship of Darwish bin Ismaeel bin Ali al Balushi, Minister Responsible for Financial Affairs, and Deputy Chairman of the Financial Affairs and Energy Resources Council. The Council reviewed reports on the financial status as on September 30, 2017. The Council reviewed financial indicators including oil price, state’s actual revenues, expenditure and deficit levels. It also reviewed the measures that the Council of Ministers has approved upon discussing the state’s budget for 2018. It viewed a presentation on the International Monetary Fund’s report on the economic and financial performance of the Sultanate. It also reviewed reports on renewable energy the most important of which is the national initiative for solar energy ‘Sahim’, which aims at creating a sustainable source for power in the Sultanate. — ONA