Muscat: The Omani Ministry of Finance has called on all government units to raise the efficiency of fee collection, according to a circular issued by the ministry.
The measure, which come on the back end of a global slide in oil prices, which have hit the most oil-producing economies, are aimed at developing and strengthening government non-oil revenues. which the ministry says will which gradually reduce the total dependence on oil resources.
The ministry also asked governmental units to find extra fees from the services they offer to the public that could help strengthening government non-oil revenues.
It also suggested that government to regulate services and send all the fees they collect to the states treasury with attached documents.
The country also said it is working to enhance non-oil activities by bringing diverse investments as well as developing the tourism sector in the country.
Dr Ali Bin Masoud Al Sunaidi, Minister of Commerce and Industry, recently said non-oil activities has achieved a growth estimated at 7.4 per cent by the end of 2015.
“It undoubtedly reflects the success of the government’s economic policies towards economic diversification in spite of the pressure on the budget due to the sharp decline sharp in oil revenues,” he said.
The 2016 General Budget released in January projects 3.3 billion Omani riyals (Dh31.47 billion) in deficit spending for 2016, which is says it will try to reduce by improving the non-oil revenues as well as cutting expenditures.
Oman posted a budget deficit of 4.5 billion riyals in 2015, as revenues declined by more than 50 per cent.
