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  Economics
Oman allocates USD 22.26 mln to people affected by fuel price liberalization
12/11/2017 | LOC22:41
19:41 GMT
| Gulf News
تصغير الخطالشكل الأساسيتكبير الخط
MUSCAT, Nov 12 (KUNA) -- The Omani cabinet announced on Sunday that it has allocated a sum of 100 million riyals (USD 22.26 million) in the general budget to mitigate the effects of fuel price liberalization.
The decision regarding new fuel prices will be applied as of January 1 2018, said a statement by Oman News Agency (ONA).
A committee has been assigned to announce details on mechanisms and procedures in this regard, the statement added.
Oman's Shura Council formed a committee in the name of repercussions of the economic crisis and its effects on society.
The commission recommended the government to support the owners of trucks and taxis, students at universities and colleges as well as low-income families and individuals, it noted.
Oman began liberalizing fuel in accordance with prices at the global prices last year after a drop in oil prices. (end) ma.hm
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