Oman indefinitely stops bonuses for gov't employees

The decision is part of the country’s measures to tackle its national debt issue

Omani Finance Minister Darwish al-Balushi. (Getty Images)

Omani Finance Minister Darwish al-Balushi. (Getty Images)

Oman’s Ministry of Finance has indefinitely cut bonuses for government employees as part of a plan to cut the county’s national debt, reported Muscat Daily.

All initiatives with over 40% government ownership have been instructed by the ministry to implement the decision until further notice.

Oman’s budget deficit has grown past RO3 billion this year due to falling oil revenues.

According to the publication, most government employees will not contest to the decision as they recognize that the country is going through difficult financial times.

Najat al Busaidy, a senior therapist at the Armed Forces Hospital said, “I agree that bonus is a form of recognition for hard work and a way to encourage employees to perform in a much professional manner with better future productivity. Yet… as Omani citizens, we stand to support our country’s economic status through understanding and accepting the current financial situation in a positive way rather than being upset or by being not thankful to our government.”

Nevertheless, some employees called the decision “short-sighted” and unfair.

Salem al Mashani, former Majlis A’Shura member, said most partly-owned government companies are making enough profits and should not be holding back employee bonuses.

“Bonuses are a way to reward employees who have excelled, which is why they deserve it,” he said.

On the other hand, an official from the Oman Airports Management Company said employees should be happy that “their jobs are safe” as the year has not been great for national business.

The Minister Responsible for Financial Affairs, His Eminency Darwish al Balushi, urged workers to join hands to tackle the crisis.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Accounting meets religion in challenge for Islamic banks

Accounting meets religion in challenge for Islamic banks

Reconciling accounting standards and religious principles is...

Banking on reforms in Kuwait

Banking on reforms in Kuwait

As Kuwait stares down its first deficit in 20 years, the Gulf...

Saudis face dilemma between size and pricing in debut bond sale

Saudis face dilemma between size and pricing in debut bond sale

Riyadh is under pressure to maximise the size of its international...

Most Discussed
sponsoredTracking