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SUNDAY, January 4, 2015 / 13 Rabi Al Awal 1436 AH
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Omani man commits suicide FAHAD AL MUKRASHI
fahad@timesofoman.com MUSCAT: A 38-year-old Omani man reportedly committed suicide in Al Gantaq area in the wilayat of Nizwa, on Thursday night, by hanging himself from the fan with a cloth. A Royal Oman Police (ROP) official told Times of Oman that the incident took place at the rented accommodation of the deceased. His body was transferred to the forensic laboratory for further examination.
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Sur, the premiere centre for dhow-building in Oman 3 3 P E R C E N T A L L O C AT I O N
Health, education get lion’s share in new budget REJIMON K
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reji@timesofoman.com MUSCAT: Funds set aside in the budget for education and health sectors will help transform both sectors and enable them to become the best in the region, said officials. The Ministry of Finance has allocated OMR4.6billion for both the sectors in the 2015 budget, constituting 33.6 per cent of the total government expenditure in the coming financial year. “Allocation of OMR3 billion for the education sector will be a shot in the arm for the education field. It will improve education in different ways, especially in terms of quality. With the funds allocated, focus should be more on improving the quality and bringing our education system on par with global standards,” Said Amur Said Al Rahbi, director of the qualifications, equivalency and recognition department, told Times of Oman. The budget has set aside funds to start 41 new schools in different wilayats and to provide training within the country and outside at a cost of OMR95 million. “Training will enable our graduates to excel in academics and prepare them for the job market, which is the need of the hour,” the director said, adding that more schools will give more opportunities to students in Oman to fulfil their dreams. Budget allocation for the education sector will be OMR3 billion, which constitutes 21.3 per cent of total expenditure.
Private sector gets government boost Budget estimates for 2015
(OMR in billion)
Though challenges
A higher budget expenditure announced by Oman government for this year will definitely benefit the private sector.
remain on the
Revenue in initial budget
revenue front due to Meanwhile, a senior health professional serving in the Ministry of Health for a long time said that the funds allocated to the health sector will boost its growth. “Allocation of OMR1.6 billion and plans to set up 11 new hospitals will help Oman’s health sector to meet people’s demands. Funds can be used to set up modern facilities and turning fresh medical personnel into experts. In the long run, we can see Oman’s health sector turning into the best medical sector in the region,” said A. Saifudeen, a senior doctor at the Sultan Qaboos Hospital in Salalah. Meanwhile, a well-known economist in the region said that the focus on education, which constitutes 21.3 per cent of total spending, health with 11.3 per cent and the related social spending is intended to build Oman’s human capital. “Given its young population and demographic structure, the focus on human capital investment is appropriate. Economic diversification, innovation and productivity growth are both dependent on having a high level of educational attainment and a healthy population,” said Nasser Saidi, former chief economist and head of external relations at the DIFC authority. >A3
‘No foul play’ The ROP official said there was no evidence of foul play and the victim’s body was handed over to his family on Friday. The cause of the suicide has not yet been ascertained, said the official. This is the year’s first case of suicide in Oman. According to available figures, five people, mostly nationals, committed suicide in 2014, compared to seven in 2013.
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dipping crude prices, increased spending by the government will give a much-
1.8
Actual revenue
A. E. JAMES
businesseditor@timesofoman.com MUSCAT: A higher budget expenditure announced on Thursday by Oman government for this year will definitely benefit the private sector, but challenges in generating revenue remain in view of slackness in prices of crude oil that constitutes 79 per cent of total revenue. The move to raise overall government expenditure by 4.5 per cent to OMR14.1 billion this year gives the much-needed confidence and fillip to the private sector, which largely depends on government expenditure for business. “It gives a confidence to the private sector in terms of continuity in project development spending programme,” Kanaga Sundar, head of research at Gulf
14.1 3.2
11.6
Oil revenue ($80 per barrel)
Previous years'
0.7 State reserve funds 0.4 local market borrowing
0.2 International loans 0.2 Foreign donors Revenue
Subsidy
Expenses
Grants
Source: Ministry of Finance
Baader Capital Markets, told Times of Oman. “The key projects mentioned in the budget will auger well for the private sector. This is a positive development.” Oman government is determined to develop several mega projects in a wide spectrum of infrastructure and industrial sectors by investing billions of rials, which include the 265kilometre-long first segment of National Railway between Sohar and Buraimi and dualisation of two segments of Adam-Thumrait road. In fact, the government retained its investment expenditure at OMR3.2 billion (22 per cent of total expenditure), which will immensely benefit the private sector. Mohamed Al Khonji, chairman of Al Khonji Real Estate and De-
M E M O R A N D U M O F U N D E R S TA N D I N G
Investment
1 surpluses
9.16
needed fillip to the private sector
Government
Graphics
velopment (Aqar), said that the growth in government spending would stimulate economic activity, which is a positive sign. Sources said that the oil revenue estimate at OMR9.16 billion (as well as OMR2.5 billion deficit estimate) might have been based on an assumed oil price in the region of $80 per barrel or slightly lower. The deficit estimate at OMR2.5 billion, which is equal to 21 per cent of revenue and 8 per cent of gross domestic product (GDP), will be met by way of grants from foreign donors to the tune of OMR200 million, international loans OMR200 million, borrowing from the local market OMR400 million, state reserve funds OMR700 million, and previous years’ surpluses OMR1 billion, according to a Reuters report. The government did not clarify
whether the revenue estimates are based on its initial draft proposal ($80 per barrel), which was presented to the Majlis Al Shura more than a month ago. Total revenue estimate in the initial draft budget (discussed by the Majlis members) was OMR13 billion, against the actual revenue estimate of OMR11.6 billion — which is one per cent less than the previous year’s estimate. The actual deficit by the end of the year could be much higher than the initial estimate of OMR2.5 billion, if oil price does not recover this year from its fiveyear low of around $56 per barrel — a 48 per cent fall last year. Anwar Al Balushi, chairman of Anvwar Asian Investment, said the investments in infrastructure projects would definitely benefit the private sector. >A3
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Oman, Iran sign pact for research and Fog delays Etihad flights at Abu Dhabi airport restoration of historical documents 1 ELHAM POURMOHAMMADI
elham@timesofoman.com MUSCAT: Cooperation between Iran and Oman in the area of historical documents is a step towards utilising the untapped potential for cultural cooperation, said an Iranian official. Dr Hamad bin Mohammed Al Dhoyani, chairman of Oman’s National Records and Archives Authority, and Dr Seyyed Reza Salehi Amiri, head of the National Library and Archives Organisation of the Islamic Republic of Iran, signed a memorandum of understanding (MoU) in Muscat on Tuesday.
“The MoU calls for the exchange of experience and expertise in the area of historical documents, especially restoration of these documents to save them from degradation,” Dr Mohammad Soltanifar, advisor to Dr Amiri, told Times of Oman in an interview. It also calls for cooperation on exchange of these documents, historical maps and photos, he said, adding that as part of the agreement, joint exhibitions will be held in Iran and Oman in the coming months. According to Soltanifar, the MoU is of high significance given the historical commonalities of the two countries. >A3
Etihad Airways had to restructure its flight schedule for Saturday night to enable the airline to recover from operational disruption caused by the severe early morning fog at Abu Dhabi International Airport. It has urged passengers to defer their travel to, from, or through Abu Dhabi, up to and including Tuesday. >A2
CULTURAL COOPERATION: Oman and Iran signed a memorandum of understanding in Muscat on Tuesday. -Supplied picture
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Schools need to focus on trauma scars
Prophet’s (PBUH) path to peace
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The day of the 12th Rabi Al Awal of Islamic calendar is of great significance for Muslims around the world. It was on the day of this year that our creator decided to bless mankind with the arrival of His last and final messenger. >A4
There is a huge gap between schools and children’s social services as the two sides fail to work together for the welfare of pupils. But the problem is that social workers lack in numbers to talk to parents to find out how abused children can be protected. >A3
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