General

Ministry of Finance Publication


Muscat (WAF): The Ministry of Finance directed, in a circular, to all ministries, government units, public authorities, and corporations the obligation to pay the financial dues of companies implementing government projects on their due dates in accordance with the contractual terms.

The ministry started in its publication that in the event of a difference between the government agency and the executing company about the dues, in whole or in part, the government entity must "delete the amount disputed until an agreement is reached on it, pass the agreed payment of the payment and not delay the payment in full."

The Ministry also clarified that the move aims to accelerate the payment of dues and not delay them within the framework of the liquidity set for each party within the approved development budget.

In its publication dated February 16 and published this week, the Ministry confirmed the commitment of government agencies not to issue any operating orders or goodwill letters to companies before completing the procedures for financial approval of the contract. With the commitment of government agencies to provide the treasury in the Ministry of Finance with a detailed statement of all amounts, whether developmental or current, that are expected to be disbursed within the framework of the approved liquidity for each quarter on a quarterly basis.




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