Oman announces economic relief package to mitigate geopolitical impacts on businesses

Muscat: The Government Communication Center has announced that the Sultanate of Oman has introduced a package of facilitative measures aimed at reducing the impact of current geopolitical developments on businesses and key economic sectors. Issued in response to Royal directives, these measures form part of an integrated government effort to support domestic economic stability, ease pressures from global developments, and safeguard vital supply chains and food security.

Among the primary initiatives announced is the stabilization of electricity tariffs for food-security establishments, which will be capped at 12 baisas per kilowatt-hour regardless of consumption volumes until December 2026. Additionally, the government has approved financial support for the maritime transport of food commodities imported from Indian ports for a six-month period to guarantee the continued flow of essential goods and strengthen national food supply networks.

To assist the construction and tourism industries, customs duties on rebar steel imports will remain fixed at 5 percent until the end of the year, while the collection of the 4 percent tourism levy from affected hospitality establishments will be postponed for three months. Furthermore, authorities have announced plans to evaluate the feasibility of deferring loan installments for directly impacted small and medium-sized enterprises to relieve financial burdens and support overall business continuity.