Sayyid Tariq is the owner of Renaissance Services an oil and gas company and patron of the Environment Society of Oman (ESO).

'Government austerity measures can actually help accelerate the adoption of more efficient technologies' he said at a conference organised by an Austrian trade delegation on Tuesday. 'Efficiency which I consider the low hanging fruit of the clean technology movement now fits neatly in public policy.'

He said the removal of fuel subsidies was a positive step. 'Subsidies lead to higher consumption than if people had to pay the regular market price' he said. 'This put renewables in improved relative position.'

Renaissance Services is executing a solar energy project in Fahud. The Austrian Economic Delegation organised the conference to promote collaboration between Austria and Oman in renewable energy and smart cities.

Reinhart Zimmerman the Austrian Economic and Commercial counsellor to Oman said renewable energy could impact future building standards in Oman. 'The goals are to assist and support Omani project developers universities and ministries to adopt the next step in the field of energy efficiency for construction and housing. The aim is to bring Austrian and Omani companies together and integrate new technologies in their projects' he said.

'I think this is the right moment to assist the Sultanate of Oman to make a paradigm shift in energy consumption.' Oman and Austria are planning to sign an MoU on double tax evasion in June according to Zimmerman.