Fund for assisting to price stabilization in consumer market founded

Tashkent, Uzbekistan (UzDaily.com) -- Fund for assisting to price stabilization in the Internal Consumer Market was established in Uzbekistan.

The new fund was created in accordance with the resolution of the President of Uzbekistan “On urgent measures to reliably provide population of the republic with the main types of socially significant foodstuffs.”

The fund is created without the status of a legal entity. According to the resolution, the Ministry of Finance will provide US$100 million to the funds.

The funds will be used to smooth seasonal and other sharp fluctuations in supply and demand for food products.

First of all, the funds will be used to stabilize prices for meat, vegetable and animal oils, cereals, flour, potatoes, carrots, onions, and other types of socially important food products.

The Republican Commission for Monitoring and Controlling Prices for Major Types of Socially Significant Foodstuffs will dispose of the fund’s resources. The Commission is headed by Prime Minister Abdulla Aripov.

The Cabinet of Ministers, together with the Ministry of Foreign Trade, in accordance with the decision of the Republican Commission, organizes in the shortest possible time the purchases (including import) of the most important food products, which are missing in the domestic market.

Till 1 April 2018, Uzbek President released imported products by the fund from customs payments (except for customs duties).

Uzbek leader instructed the Ministry of Finance to provide US$70 million by the end of the year for purchase of medicines and medical products for budgetary health institutions.

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