MoCI - increase annual budget to support food items

According to an official source from the Ministry of Commerce and Industry, the ministry will address the Ministry of Finance for increasing the annual budget allocations for supporting food and construction materials, reports Al-Anba daily.

He explained that the matter comes in line with the steady global rise in the prices of food commodities and construction materials in general.

Simultaneously, the volume of spending on these types of support is expected to rise by the end of this year by more than 50 percent, against the background of the significant increase in the prices of goods and products, transportation, shipping and warehousing.

The source said, “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 Fahad Al-Shariaan confirmed that the government bears the difference in prices of food supplies, the need has become urgent to increase the support budget so that the ministry can perform its role in providing goods and basic needs subsidized at the same previous prices without burdening the citizens.