Monday 09 / March / 2026
Muscat — The Shura Council held its 12th regular session of the third annual sitting of the 10th term (2023–2027) today.
The Council discussed several standing committee reports concerning various agreements. It also concluded discussions on a draft amendment to certain provisions of the Mineral Wealth Law and approved several cooperation agreements in the fields of maritime and air transport.
During the session, the draft amendment to certain provisions of the Mineral Wealth Law was referred to the State Council to complete its legislative cycle. The Economic and Financial Committee presented its views and observations on the draft, particularly regarding the regulation of mineral wealth exploitation and the enhancement of its management efficiency.
The session also saw the discussion and approval of the Services and Public Utilities Committee's vision regarding several international agreements, in accordance with Article 54 of the Council of Oman Law. These include a maritime transport cooperation agreement between the governments of the Sultanate of Oman and the Russian Federation and the air services agreements with the governments of the Republic of Mali and the Federal Republic of Somalia.
Additionally, the agenda included the discussion and approval of the themes for the ministerial statements of the Ministry of Energy and Minerals and the Ministry of Endowments and Religious Affairs, pursuant to Article 69 of the Council of Oman Law, which mandates the scheduling and thematic outline of such statements.
The Council discussed and approved reports from the Economic and Financial Committee on two key economic initiatives, namely bank fees by analyzing local banks compared to their counterparts in the GCC countries. The report recommended balancing the sustainability of the banking sector with the protection of customers' interests by adjusting currently applied banking fees and policies.
It also approved a report on supporting national favorite. This comes as an affirmation of the industrial sector's vital role as a primary driver of national economic transformation. The report focused on maintaining sustainable growth, reducing reliance on imports, and enhancing the competitiveness of Omani products locally, regionally, and internationally.
The Media, Tourism, and Culture Committee presented its report on the expressed desire to “establish integrated service stations for motorhomes” to promote overland and adventure tourism.
The session concluded with a briefing on several draft laws and agreements referred by the government, most notably the draft Unified Law (System) for the Management of Plant Genetic Resources for Food and Agriculture for GCC states.
—Ends/AG
