The Economic and Financial Committee of the Shura Council held its third meeting of the second annual session (2024–2025) on Tuesday. The meeting featured discussions on the draft law for "State Revenue Collection," referred by the government in accordance with Article 47 of the Oman Council Law, which stipulates that government-drafted laws must be reviewed by the Oman Council for approval or amendment before submission to His Majesty the Sultan for ratification and issuance.

The committee thoroughly examined the draft law, focusing on its provisions, justifications, and the potential effects on existing legislation in Oman. The discussions explored key differences between the current law, in effect for over 31 years, and the proposed draft. Additionally, the committee analyzed comparative laws from other Arab countries to ensure alignment with regional best practices. The new draft law aims to replace the outdated legislation, harmonizing with recent legal amendments across multiple sectors.
The committee, chaired by His Excellency Ahmed Said Al Sharqi and attended by its members, also reviewed the Ministry of Labor's recent decision regarding the Wage Protection System. Discussions centered on the financial repercussions of fines imposed under the system and their impact on the cash flows of small and medium enterprises, as well as their overall effect on Oman’s economy.
These deliberations underscore the committee’s dedication to crafting laws that align with Oman’s developmental goals while addressing concerns from various sectors to promote economic sustainability.