HM the Sultan presides over cabinet meeting

HM the Sultan presides over cabinet meeting

Muscat: His Majesty Sultan Haitham bin Tarik presided over a meeting of the Council of Ministers at Al Barakah Palace yesterday.

At the outset of the meeting, His Majesty the Sultan gave thanks and praise to the Almighty Allah for the bounties with which He endowed Oman, its noble people and all those residing on its land.

His Majesty the Sultan prayed to Allah the Almighty to bestow His riches on all and to grant all good health, wellbeing and prosperity.

Then, His Majesty the Sultan reviewed domestic conditions. On the economic aspect, the Council of Ministers approved the closing account of fiscal year 2023, which indicated an improvement in the financial standing and a decline in the volume of its public debt—leading to improved credit rating of the Sultanate of Oman. His Majesty commended all the efforts made in this respect.

Pursuant to the Council of Ministers' keenness to develop the capital market sector, activate its role as funding option, enhance the contribution of commercial companies to the local economy and to augment the market value of Muscat Stock Exchange and to increase the number of companies listed therein, His Majesty the Sultan issued Royal directives to launch an incentive programme that comprises