Government to cover 50% of fuel and insurance costs for six months.
Dubai: Oman will subsidise 50% of fuel and insurance costs for food shipments transported by Asyad Shipping, the maritime arm of Asyad Group, on the India–Sultanate shipping route for up to six months. The move is aimed at strengthening food security and reducing logistics costs.
The support, effective from today, implements directives issued by Sultan Haitham bin Tarik during a Cabinet meeting last month, focusing on safeguarding essential food supplies, improving supply chain resilience, and mitigating the impact of rising global logistics costs.
State-owned Asyad said in a disclosure to the Muscat Stock Exchange that it will pass the full value of the government subsidy directly to customers shipping eligible food cargo under the initiative, helping reduce the cost of importing essential food products into Oman.
The company currently operates one container vessel on the India–Oman trade route and said it expects the support programme to positively impact its container shipping business during the subsidy period. It added that the financial impact is being assessed and will be reflected in future financial statements where applicable.
The India–Oman shipping corridor is one of the Sultanate’s key supply routes for food imports, transporting staples such as rice, fruit and vegetables, meat, dairy products, eggs, spices, and processed foods.
The initiative is part of a wider set of economic support measures ordered by Sultan Haitham to boost national food security, strengthen logistics networks, and reduce the impact of global economic disruptions on businesses, particularly small and medium-sized enterprises.
