13 May 2013
Muscat: The State Financial and Administrative Audit Institution (SFAAI) is working to recover more than OMR200 million in investment funds for the state's treasury, an official from SFAAI told Times of Oman.
The official added that major companies investing in the Sultanate had not honoured their debts to the Sultanate.
The SFAAI recently forwarded more than 10 cases to the Public Prosecution for further investigation and recovered revenues that have been owed for more than 10 years.
The SFAAI authorities said funds recovered for the state's treasury from transactions in 2010 to 2011 stood at OMR340.6 million last year.
The SFAAI said the sum included OMR133.6 million, which was returned to the state's budget or to companies operating under the SFAAI's authority.
On the other hand, the Ministry of Tourism has withdrawn permissions for many land plots that were earmarked for tourist-project investments after investors failed to commit to the regulations.
Investigations completed
The Public Prosecution has completed the investigation of most cases referred to it by the SFAAI. These cases will soon be forwarded to the courts for trial, said the Attorney-General, Hussain Al Hilali.
The referred cases include allegations of neglecting duties in a manner that led to financial losses for the treasury, exploiting public services for personal gain, smuggling oil products subsidised by the government, committing fraud with official documents during the disbursement of funds, distorting official documents to benefit others, changing data to benefit relatives, embezzling charity funds, misappropriating public funds, and making false statements to benefit others.
Muscat: The State Financial and Administrative Audit Institution (SFAAI) is working to recover more than OMR200 million in investment funds for the state's treasury, an official from SFAAI told Times of Oman.
The official added that major companies investing in the Sultanate had not honoured their debts to the Sultanate.
The SFAAI recently forwarded more than 10 cases to the Public Prosecution for further investigation and recovered revenues that have been owed for more than 10 years.
The SFAAI authorities said funds recovered for the state's treasury from transactions in 2010 to 2011 stood at OMR340.6 million last year.
The SFAAI said the sum included OMR133.6 million, which was returned to the state's budget or to companies operating under the SFAAI's authority.
On the other hand, the Ministry of Tourism has withdrawn permissions for many land plots that were earmarked for tourist-project investments after investors failed to commit to the regulations.
Investigations completed
The Public Prosecution has completed the investigation of most cases referred to it by the SFAAI. These cases will soon be forwarded to the courts for trial, said the Attorney-General, Hussain Al Hilali.
The referred cases include allegations of neglecting duties in a manner that led to financial losses for the treasury, exploiting public services for personal gain, smuggling oil products subsidised by the government, committing fraud with official documents during the disbursement of funds, distorting official documents to benefit others, changing data to benefit relatives, embezzling charity funds, misappropriating public funds, and making false statements to benefit others.
© Times of Oman 2013
