More Than 50% Increase In Subsidy Value Is Expected By The End Of The Year

The Ministry of Commerce and Industry announced that it will request a bigger budget allocation for food and construction materials from the Ministry of Finance.

Against the backdrop of the significant rise in prices for goods and products, transportation, shipping and warehousing, a local Arabic media reports that this reflects the consistent global rise in food commodities and construction materials in general.

The source added, Within the framework of the role played by the Commerce and Industry Minister to secure the basic needs of food and construction materials, and after Commerce and Industry Minister 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's.

In light of the effects of the Russian-Ukrainian offensive and in light of an upcoming strategic plan, the Minister of the Interior stated that the citizens will not see an increase in the prices of construction and subsidized food supplies, since the government will cover the price difference resulting from increasing costs of shipping.

During 2021, the Ministry of Commerce disbursed about 225 million dinars of assistance for thousands of various food items, including ration food (basmati rice, vegetable oil, frozen chicken, tomato paste, sugar, powdered milk, flour, and lentils) to citizens through the ration card), as well as building materials including concrete, air-conditioning supports, concrete, sanitary kits, electrical wires, ceramics and porcelain, and external cladding support.

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