Private sector must help revive Oman economy, says Mantheri

Muscat: State Council and Majlis Al Shura in a joint meeting discussed the efforts made by the Standing Committees to deal with the current economic situation in the Sultanate.
About the economic challenges, Dr. Yahya bin Mahfoudh Al Mantheri, Chairman of the State Council explained that it is very important issue and all government and private sectors must cooperate in facing it.
He pointed out that the private sector must play its part to support the national economy more effectively by domestic investment in the country, since the government had provided it with infrastructure, support and the appropriate services, and to be a key partner in finding appropriate solutions to these challenges.
Al Mantheri highlighted the importance of these meetings to increase coordination between the two councils in all legislative and regulatory actions.
Khalid bin Hilal Al Ma’awali, Chairman of Majlis Al Shura said that Majlis, through its office, standing committees and task forces, continues to follow the economic crisis and its aftermath, as it has already held several meetings and dialogue sessions with several specialists in the banking, economic and tourist sectors, in addition to the oil and gas sectors to listen to the viewpoints of the private sector.
He pointed out that these meetings resulted in a series of proposals and visions to ensure reducing the economic harms caused by the deterioration of oil prices or limiting them.
A special committee was formed to study the economic crisis and its impact on the society. The committee began its work and held several meetings. It will also submit its report and recommendations in July.
The meeting also discussed the coordination mechanisms proposed between the two councils, pursuant to the provisions of Article (58) repeated (36) of the Basic Law of the State, in addition to discussing the exchange of results of studies prepared by both councils, when needed.
The offices touched on the draft laws referred by the government through peer committees in the councils after referring the draft law by Majlis to the State Council to clarify the rationale for the amendment.