Friday, March 29, 2024

Oman News

Image for representative purpose only

Oman’s finance ministry directs government entities to reduce expenses by 10%

Ministry also asked government-owned firms to stop the implementation of any new projects.

TAS News Service

info@thearabianstories.com

Tuesday, March 31, 2020

MUSCAT: Ministry of Finance has asked all government entities to reduce their operational and administrative expenses for the current year by 10 per cent, The Arabian Stories has learnt.

In a circular issued early this week, the Ministry also directed the government entities to stop any new projects this year.

The decision from the finance ministry is aimed at reducing the government spendings. According to the circular issued by His Excellency Ismail bin Darwish Al Balushi, the ministry also asked to halt all external training courses and workshops, attending conferences and exhibitions, and reducing the budget for official trips by at least 50%.

The measures approved by the government come from His Majesty Sultan Haitham bin Tarik to take “the necessary financial measures to cope with the fallouts resulting from the low oil prices,” the circular added.

Close