KUWAIT: Commerce asks Finance to increase budget of subsidized food supplies
An official source at the Ministry of Commerce and Industry said the Ministry of Commerce will address the Ministry of Finance to increase the annual budget allocation to support food and construction materials, reports Al-Anba daily.
The source said this comes in line with the steady global rise in the prices of food commodities and construction materials in general, expecting at the same time the volume of spending to rise by the end of this year by more than 50%, against the background of the significant increase in the prices of goods and products, transportation, shipping and warehousing.
The source added, “Within the framework of the role played by the Ministry of Commerce and Industry to secure the basic needs of food and construction materials, and after Minister of Commerce and Industry Fahd Al-Shariaan confirmed that the government bears the difference in prices of food supplies, the need has become urgent to increase the budget so that the Ministry can perform its role in providing subsidized goods and basic needs at the ‘old’ prices without burdening the citizen. The Minister confirmed that the citizen will not feel any increase in the prices of construction and subsidized food supplies, as the government will bear the price difference resulting from the increase in the cost of shipping or others, in light of the repercussions of the Russian-Ukrainian war, and that there is a strategic plan to ensure the fl ow of goods and foodstuffs and bring stability to their prices.
Meanwhile, the Federation of Fresh Dairy Producers called for increased support to enhance food security, pointing out that high feed prices are one of the biggest problems facing cow breeders, reports Al-Qabas daily. The Vice-President of the Federation, Dr. Abdulaziz Al-Ateeqi said during a workshop that was organized to shed light on the latest developments in the presence of a number of veterinarians, farm owners and workers learned some of them suffered financial losses as a result of the incompatibility of what is spent on fodder compared to what is produced and sold, in addition to the significant impact resulting from the end of budgets established for support, and the delay in disbursing subsidies by the responsible authorities in the state.