WEDNESDAY January 11, 2017 12 Rabi Al Thani 1438 AH
6 085010 120010
FROM THE WORDS OF HIS MAJESTY THE SULTAN
On the occasion of the 27th National Day, 1997
‘His Majesty’s Wisdom’ Thanks be to God, many things we have hoped for have been realised in our foreign relations, economy and development, social welfare, education and culture, security and defence. We are continuing to pursue these goals with determination in order to achieve still better results, with the help of God.
Founded 1975 . Volume 41 No. 263 | 36 Pages . Baisas 200 . Subscription OMR63 | ISO 9001:2008 Certified Company | Chairman/Editor-in-Chief: Mohamed Issa Al Zadjali | Printed & Published by Muscat Media Group
INDIAN
FOREIGN MINISTRY
Sultanate condemns Egypt attack
Missing salesman found dead
Times News Service MUSCAT: Oman condemned a terrorist attack in Egypt, which has claimed lives of seven policemen and one civilian. “The Sultanate expresses its sympathy to the families of the victims who died in the attack and expresses its solidarity with the Egyptian government and people of Egypt,” Oman’s Ministry of Foreign Affairs said in a statement, wishing the injured a speedy recovery. According to the Egyptian government, seven policemen and one civilian were killed in a bomb attack on a checkpoint in the northern Sinai city of Al Arish on Monday.
LOAN SHARKS CIRCLE AS SALARIES DELAYED REJIMON K CHIEF REPORTER
Hard-up families
MUSCAT: Loan sharks are charging exorbitant interest rates as hard-up families and small businesses in Oman turn to illegal money lenders to make ends meet. With employees reporting delays in salary and contractors failing to
are taking loans with MORNING MINUTE
eye-watering TOP THREE INSIDE STORIES
OMAN
reji@timesofoman.com
repayment amounts
pay up due to the current economic climate, social workers say more and more people are resorting to borrowing in the black market, with some giving up their passports or writing blank cheques as security for the loans they take. The Central Bank of Oman has capped lending at six per cent interest, which is the maximum
banks can charge customers, but loan sharks are charging those desperate enough to seek their services up to 120 per cent interest. An expatriate in Muscat, who asked not to be named, said he is paying OMR100 in interest every month for the OMR1,000 he had taken from a money lender six months ago. >A5
Fifth best for savings
1
Oman is the fifth best place in the world for expats to save money, according to a major survey. >A2
REJIMON K
reji@timesofoman.com MUSCAT: An Indian salesman who was missing for the last 25 days has been found dead, said an official of the company where the victim was working. “He had gone missing in the middle of December. My staff had been coordinating with the police. Yesterday, the police and hospital authorities told us that he had died in a road accident near Rustaq. His body has been shifted to Khoula Hospital. We are coordinating with the embassy for repatriation of the body,” the official added. The victim, identified as Irshad Tahiko, 23, from the southern Indian state of Kerala, was working at a hypermarket near Musannah. >A6
BOOSTING TOURISM
24-day Muscat Festival to kick off from January 19
REGION
Farewell to Rafsanjani
2
Thousands of Iranians massed in Tehran for the funeral of Akbar Hashemi Rafsanjani. >A7
Staff Reporter
MARKET
Contracting firms hit Placido Domingo to sing famous operas at ROHM
3
An increase in bank interest rates and fuel prices are adversely affecting contracting firms. >B1
A4
FINANCIAL SUPPORT
Benefits planned for laid off private sector Omani staff REJIMON K CHIEF REPORTER
reji@timesofoman.com MUSCAT: Unemployment benefits for Omanis laid off in the private sector are under intense discussion with the government studying seven options to extend such financial support for up to six months, trade union leaders have said. The support plan, which was put forward by the General Federation of Oman Trade Union last year, is in its final stages,the chairman of the oil and gas sector workers’ trade union, Saud Salmi, told the Times of Oman. Workers who lost their job without any fault of theirs will be eligible for such assistance. The plan envisages extending financial support for six months, equivalent to 60 per cent of the monthly salary they were drawing during employment. Representatives from the International Labour Organisation, officials from the Ministry of Manpower, Shura members, trade union representatives and company representatives attended a meeting last Sunday to chalk out the plan. “Seven options were discussed about ways to raise money for the support plan. Participants preferred an option that involved the government, the employer and the employee contributing a cer-
Irshad Tahiko, 23, from the south Indian state of Kerala.
Seven options were discussed about ways to raise money for the support plan Saud Salmi Chairman, oil sector workers’ trade union
tain amount during employment to create a fund for the purpose,” Salmi said. Currently, Omanis working in the private sector receive support from the Public Authority for Social Insurance (PASI) when they retire.
“This is financed by a fund for which the PASI is paid seven per cent by the employee and 5.5 per cent by the government while the company pays a sum equivalent to 11.5 per cent of the monthly salary of a worker. Now, we are discussing the additional amount needed to create the new fund,” the trade unionist added. Due to tough economic conditions, hundreds of Omani and expatriate workers are being laid off in different sectors in Oman. Another trade union leader said there has been no respite in such layoffs. “It’s happening and we fear that the trend will continue as economy has not yet recovered. The fund to ensure such support needs to be set up as soon as possible. A dispute is currently on about whether companies will contribute to the fund or not. We expect that the differences will be resolved and the fund will be set up without any delay,” Mohammed Al Farji, the trade union leader who participated in the meetings, said. Meanwhile, a statement issued by the PASI said it was actively working on the fund support plan. “Such a plan has been implemented in most countries of the world and is considered one of the best labour market management mechanisms to achieve security and economic results,” the PASI said. >A5
MUSCAT: This year’s Muscat Festival will be organised for 24 days only instead of the usual month-long celebration, the Muscat Municipality announced on Tuesday. The 2017 festival will start on January 19 (Thursday) and end on February 11, according to the municipality’s official twitter account.
The festival will be organised at Al Naseem and Al Amerat parks and will feature new activities such as a tropical rain forest, paintball and an educational ex-
hibition on aviation. Fireworks will be held daily at the two venues. Apart from theatre shows, Oman Automobile Association will also organise a drifting event. A Global Fashion Forum will be organised that will include a traditional fashion show, where designers from throughout the world will display their traditional outfits. The festival will help in promoting tourism in the Sultanate.