Web Desk February 18, 2021

On February 17, the Cabinet of Ministers adopted a resolution “On additional measures to reduce the negative impact of an increase in import prices for food wheat on the price of flour and flour products sold in the country.” The document provides for the provision of monetary subsidies to flour producers. Starting from February 1 to May 1 of this year, persons involved in the production of flour will receive a subsidy from the state in the amount of 35 manats for each ton of products sold. The Ministry of Economy was instructed to approve the rules for the provision of subsidies. The source of funds for subsidies is the State Budget Reserve Fund. Proposals on the formation of a stable mechanism of appropriate regulation and control to create stocks of food wheat and reduce the impact of wheat prices on domestic stock exchanges on domestic wheat prices should be submitted to the Cabinet of Ministers within 2 months. It is noteworthy that over the past 10 years or so, the government has regulated domestic prices for flour at the expense of the State Grain Reserve Fund. The fund operates under the Ministry of Emergency Situations ……

 

Source: Turan News Agency

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