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FinancialNews


  • 29-10-18

    Oman to see mild fiscal deficit impact in privatization plan

    (MENAFN) Oman was suggested by Fitch Solutions to be having a mild effect on its fiscal deficit through its target to turn two state-owned electricity firms into private ones.

    Fitch Solutions noted in its report that the plan indicates a move to further transparent investment regulations and diversification.

    The Omani Nama Holding is looking to put two electricity companies for partial sale by next year for foreign investors.

    The two firms are Oman Electricity Transmission Company (OETC) and Muscat Electricity Company (MEDC).

    The report said: "the decision to invite foreign investors thus underlines a broader drive by the government, accelerated since the oil price slump that began in 2014, to diversify the economy away from hydrocarbons production."

    It further added: "this strategy...rests, in turns, on attracting greater flows of foreign direct investment."

    MENAFN2910201800450000ID1097633336

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