The Council of Economic and Development Affairs has reportedly approved the final draft of the National Transformation Plan (NTP). The NTP will be put before the cabinet for approval on Monday, and details of the plan will be disclosed in daily news conferences with ministers starting Monday evening, the source added. The plan is expected to give sector-by-sector details of the implementation of “Vision 2030" reforms announced in April, which aims to make the kingdom less dependent on oil. Reforms are expected to include subsidy cuts, tax rises, selling state assets, a government-efficiency drive and efforts to encourage private sector investment. Other parts of the Vision 2030, including partial privatisation of Saudi Aramco and transformation of the government's Public Investment Fund (PIF) into one of the world's biggest sovereign wealth funds, have yet to be approved. (Reuters)