Oman to unveil privatisation plan in January 2014 - FinMin

By bne IntelliNews September 26, 2013

The Omani government will present a list of state-owned firms to be fully or partially privatised together with the new state budget on January 2, 2014, finance minister Darwish al-Balushi was cited as saying by the state news agency ONA.

The government owns more than 60 companies across various economic sectors and some of those firms are well-established with good profit and strong performance, he noted. The government’s two-fold privatization strategy implies allowing the private sector venturing into new projects and reducing the public-sector’s stakes in companies that are fully or partially state-owned, Balushi said.

Among the firms slated for privatisation is the national airliner Oman Air, he added without corroborating further. Oman also plans to offload a 19% stake in the country’s largest mobile operator, Omantel, in a deal that could be worth USD 595mn, according to industry estimates.

The IMF has warned that Oman’s fiscal situation might deteriorate over the next three years. Oman’s state budget might slip into a 3.8% of GDP deficit by 2015, the IMF forecast. The government’s privatisation plans might thus be part of a medium-term consolidation program. 

Related Articles

Ankara and Tehran join wave of anger directed at Trump’s recognition of Jerusalem as Israel’s capital

US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Turkey the loser as Baghdad rewards Iran with control of Kurdish oil exports

Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more

Dismiss