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English news

16-Mar-2016

Subsidy recipients fret over delays in payouts

Annual wheat and feed subsidies paid out by the government to a number of Omani flour mill, animal feed, poultry and milk producers could be the next in line for possible cuts as part of austerity measures rolled out by authorities at the start of the year, industry observers say. An assortment of listed Omani companies that have long been beneficiaries of the subsidy have voiced concerns that delays in the payout of these annual grants have impacted their bottom lines. Some are even fretting that, given the budgetary cuts and belt tightening measures announced by the government at the start of the year, the feed subsidy could also go the way of fuel subsidy, as well as a host of other subsidies, targeted to be partially reduced or gradually phased out in light of the current economic crisis. (Oman Observer)

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