SMEs to get tenders up to OMR10,000: Finance Ministry

Muscat: The Ministry of Finance on Tuesday issued a circular, No. (1/2021), on awarding tenders whose value does not exceed OMR10,000 to small and medium enterprises (SMEs). 

A statement issued by the Finance Ministry elaborated on the Economic Stimulus Plan (ESP) endorsed by His Majesty the Sultan when chairing the Council of Ministers Session No. 10/2021 on 9 March 2021.

The ESP supports efforts to realise economic recovery and upgrade the performance of the national economy, said the statement, adding that extensive efforts exerted by the government also seek to achieve added value to the national economy, contribute to economic diversification and enhance innovation and use of modern techniques. It underscored the significance of rallying efforts of different departments of the State’s Administrative Apparatus towards that goal,” according to the statement.

The Finance Ministry directed ministries, government units, authorities, public establishments and government companies to assign to SMEs tenders of government procurements and works/services whose value does not exceed OMR10,000. An exception could be granted otherwise, under justified decisions to be issued by Heads of Government Units.

The Ministry urged internal auditing departments at ministries, government units, authorities, public establishments and government firms to follow up updates on implementing this directive without prejudice to provisions in related bylaws and laws.