Thousands of expat and Omani employees working at state-owned institutions, run with 50% government funding or more, are to have a number of benefits slashed, according to a decision from the Ministry of Finance. The circular (5/2016) signed by Darwish bin Ismail bin Ali Al Balushi, Minister Responsible for Financial Affairs, stated that the decision has been made to cushion the economy which is struggling due to the oil price crunch. According to the decision, privileges such as health insurance for employees and family, life insurance allowance, car insurance allowance for staff and family members, loans, bonuses, incentives during Ramadan or Eid and increments not related to employee’s Key Performance Indicators (KPI) will be stopped. Additionally, allowances for school fees, mobile phones and bills, annual medical check-up for employee and family, provision of private car to senior managers, annual leave tickets, housemaid allowances, house rents, furniture allowances, credit cards for CEOs, hospitalisation fee and other allowances will also be stopped temporarily. “There is a huge financial support provided by the government to such companies and it’s the time to rethink about it,” a Majlis Al Shura member said. (Times of Oman)