Finance Ministry launches 'National Register for Government Assets' project

Business Sunday 15/January/2023 15:40 PM
Finance Ministry launches 'National Register for Government Assets' project

Muscat: The Ministry of Finance began on Sunday the execution of a project titled 'National Register for Government Assets', which aims to initiate a comprehensive, integrated system for inventorying government assets.

The register will help draft a unified strategy to ensure the centralisation of its management, raise its efficiency and maximise benefits and revenues from the government. The overall aim is to utilise these revenues in an optimum manner, to help provide the State Budget with additional financial resources.

The first phase includes the preparation of a model for the implementation of the Asset Registration Guide and the inventorying of assets belonging to the Ministry of Finance, the Ministry of Health and Muscat Municipality. The assets of other units of the State’s Administrative Apparatus (government departments) will follow suit.

The project seeks to highlight the authentic value of government assets and determine the assets involved in public-private sector partnerships.