TUESDAY
November 8, 2016 8 Safar 1438 AH
FROM THE WORDS OF HIS MAJESTY THE SULTAN
To the members of the OCCI at Al Alam Palace, 1990
‘His Majesty’s Wisdom’ We have to develop and diversify our economic resources in order to lessen dependence on oil, and to secure for our national economy a solid basis from which to face the unstable international economic conditions and fluctuations in the world oil market.
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SAUDI ARABIA, EGYPT
HM receives thanks cables MUSCAT: His Majesty Sultan Qaboos bin Said has received a cable of thanks from the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia in reply to His Majesty’s condolences cable on the death of Princess Nouf bint Badar bin Abdulaziz Al Saud. In his cable, King Salman expressed his thanks for His Majesty the Sultan’s noble feelings and sincere prayers, praying to Allah the Almighty to rest the deceased’s soul in peace and protect His Majesty against all harms. His Majesty Sultan Qaboos bin Said has also received a cable of thanks from President Abdel Fattah El Sisi of the Arab Republic of Egypt in reply to His Majesty’s congratulatory cable on the occasion of the 6th of October Anniversary. In his cable, President El Sisi expressed his utmost thanks for His Majesty the Sultan’s congratulations. He stressed his keenness to continue supporting the strong relations between the two countries and people and enhancing means of joint cooperation between them in all spheres, praying to Allah the Almighty to grant His Majesty good health and happiness, and the Omani people further progress and welfare.-ONA
Expat visa fee set to raise OMR148m INCREASE IN VISA FEE MEANS
Visa fee hike is likely
Workers in private sector
Domestic workers
1,485,615
to help the Omani
278, 444
OMR148 million extra
government generate additional revenue
Top five categories
Workers
Construction
639, 209
Automobile sector
209,888
Mining and quarry
189,477
amid financial crunch REJIMON K CHIEF REPORTER
reji@timesofoman.com MUSCAT: Increased work visa fees could add OMR148 million to government coffers over a twoyear period. On Sunday, the Ministry of Manpower announced that fees for foreign workers in Oman will be increased by 50 per cent and the new fee structure will come into effect when it is published in the Sultanate’s official gazette. Omani government figures for October reveal that, currently, there are 1,485,615 expatriate workers in the private sector here,
Hotels and restaurants
99,711
Real estate sector
80,374
(OMR100 increase in visa fee) OMR extra (in millions)
63 21 19 10 8
Source: National Centre for Statistics and Information
excluding domestic workers. To hire a fresh expatriate worker or to renew the visa for an existing worker, employers will have to pay OMR301 instead of OMR201, after the new ruling comes into effect. In the aftermath of a severe fall in global oil revenue, the Oman government will receive an extra OMR148 million in fees, should
Graphics
every worker currently listed in the government data renew the visa or be replaced by another foreigner. Oman’s government posted a budget deficit of OMR4.32 billion ($11.4 billion) in the first eight months of 2016, according to latest official figures. Tawfiq Al Lawati, a Majlis Al
Shura member, said: “Government doesn’t have any other option as the economic conditions are bad. However, personally, I feel that this move will have a negative impact as the prices of services and goods will go up eventually when the cost of visa is going up,” the Shura member who is also a member of the economic panel, said. Cushion budget deficit Ahmed Al Hooti, an OCCI member, said that government has only limited options to cushion the budget deficit due the oil price dip, but they all concerned by the move. “This will push us to increase the rates for our services, prices for our goods and eventually shoot up inflation. People will feel the pinch,” he said, adding that this move should be reconsidered when the economic condition in Oman improves. According to government statistics, most expat workers who come to Oman do so to work in the construction and auto industries. There are 639, 209 expatriate workers in the construction sector, followed by 209,888 workers in the automobile sector. >A5
S P E C I A L PA R T N E R
Lord Astor arrives to boost special bond Staff Reporter MUSCAT: Lord Astor, the UK trade envoy, arrived in Oman yesterday for talks with education, defence and health ministries and to promote the special relationship between Oman and the UK. The Conservative peer and envoy to Oman held talks about training nurses, doctors, and young Omanis as part of the Omanisation programme, as well as discussing energy and defence issues. The UK government is keen to foster stronger ties with Oman and the GCC, according to the UK
ambassador in Oman, Jonathan Wilks, who welcomed Lord Astor to Oman and was part of the talks. He said Oman is “one of the most important countries” to the UK in terms of export finance, imports and exports. Lord Astor added: “We want to strengthen our relationship and ensure that the UK is a partner of choice with Oman. “There are several countries of huge importance to the UK and Oman is one of those. It’s a country I have had a long relationship with and a deep respect for. My wife and I have been out several times.” >A5
Spectra exhibition begins
A4
TOP THREE INSIDE STORIES
OMAN
Omanis to run Majid Al Futtaim’s malls
1
The Mall of Oman, City Centre Sohar and City Centre Sur will now be run by Omani nationals, a senior official at Majid Al Futtaim (MAF) said. >A5
PAKISTAN
Police raid Karachi religious schools
2
Pakistani police arrested dozens of people in a crackdown on more than 90 seminaries in Karachi, following a series of sectarian shootings in the country’s largest city. >A9
MARKET
Bank Nizwa registers robust growth
3
Bank Nizwa registered an operating profit of OMR666,000 before provision for 9 months ended September 2016, compared to net loss of OMR3,265 for the same period in 2015. >B1