Oman is working on a proposal to make Omanisation rate of 10 per cent mandatory for construction companies, a move that is likely to come into effect by the end of June, said a report.

The proposal was drafted by the Oman Society of Contractors (OSC) in December last year and it is in the advanced stages of approval, reported Time of Oman, citing a senior official.

"There are a lot of processes involved before the law is passed. We have reached a good position. The ministerial decree has been drafted and is being looked into by legal affairs. There is permission required by the cabinet," remarked ist CEO Shashwar Al Balushi.

"It is all being done now and we are expecting the law to be out in the first half of this year, if not sooner,” he told Times of Oman in an interview.

The proposal by OSC reflects a gradual increase in the nationalisation rate in companies from 10 per cent in 2017 to 15 per cent by 2020, he added.