Some citizens were concerned that the authorities might delay transferring the allocated amounts for social protection to their accounts or overshoot the specified date, which was January 18. Much discussion ensued before these amounts were eventually transferred to citizens’ accounts. Some found it difficult to believe that new funds were allocated to the elderly, children, the disabled, and other needy social groups, especially at a time when the government halted many infrastructure projects. The government issued regulations and decisions to address financial waste in government institutions, promote financial balance, repay public debt, merge certain government institutions, reduce external participation in events, and eliminate the positions of cultural and media attachés.
These measures had adversely affected institutions, companies, and entrepreneurs, leading to a decline in citizens' purchasing activities. Institutions suffered, and layoffs increased, concurrently with decisions to raise fees and taxes on various consumer items, such as electricity, water, fuel bills, municipal parking, speeding fines, and other labor and police-related fees. These circumstances made it challenging for citizens to believe in the decision to allocate social protection amounts, almost treating it like wishful thinking.
However, the arrival of text messages from commercial and Islamic banks confirming the crediting of the allocated amounts into citizens' accounts dispelled these doubts, especially among retirees. Today, retirees affirm that these amounts will provide benefits for them and their families, enabling them to meet urgent life obligations.
The funds allocated to social groups today serve as a solid foundation for savings and luxury, contributing to a substantial financial balance if invested in bank deposits. This, in turn, will assist banking institutions in providing facilities to institutions and expanding businesses in the country. These funds can also be relied upon for internal borrowing operations, with their annual value exceeding RO 400 million ($1.04 billion). Furthermore, these amounts are expected to increase annually with the rising number of births in the country.
The success of the Social Protection Fund in delivering financial aid to citizens on time reflects the state's commitment to providing this benefit to all its people, irrespective of their economic status. Citizens extend their thanks and gratitude to His Majesty Sultan Haitham bin Tarik, the architect of the Omani Renewed Renaissance, for sponsoring this step, aimed at reinforcing the family and social stability system in the country.
In conclusion, the social protection amounts will undoubtedly stimulate commercial activity in the country, alleviating the challenges faced by individuals and commercial establishments since the onset of the Covid-19 epidemic. The economic decline has significantly impacted trade, tourism, real estate, and other sectors, leading to the unemployment of some citizens who are now seeking means of regaining social stability.
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