Additional Subsidies Allocated for Agricultural Producers in Azerbaijan

Business Materials 21 August 2008 20:15 (UTC +04:00)
Additional Subsidies Allocated for Agricultural Producers in   Azerbaijan

Azerbaijan, Baku, 21 August / Trend / The President of Azerbaijan, Ilham Aliyev, issued an order assigning additional aid to the agricultural producers in order to provide them with seeds, fertilizer and livestock. According to order, the Reserve Fund of the State Head will allocate AZN 25mln for Agroleasing JSC to realize these measures.

Funds are intended for construction of specialized barns for storing of technology and mineral fertilizers. The additional aid is provided for cover the needs of agricultural producers for the mineral fertilizers, high-reproductive seeds of wheat, livestock and increase in agricultural production.

The measures are planned to be fulfilled during 2008 - 2009. The allocated funds are envisaged to cover 50% of the cost of the seeds of wheat and 70% of the cost of the mineral fertilizers.

During 2008 - 2009 it is envisaged to import livestock with its further transfer to leasing to the agricultural producers, who are engaged in livestock, on preferential terms (with payment of 50%). Due to allocated resources, there are plans to design and build the specialized storages for the storage on the basis of the corresponding standards of technological equipment and farm machinery, acquired due to funds allocated by State. These measures must be executed Agroleasing under co-ordination with the Ministry of Agriculture, Ministry of Finance and Ministry of Economic Development.

The Ministry of Agriculture is in charge of establishing regional logistic markets with the scope of separate regions in order to improve the mechanism of distributing purchased mineral fertilizers in the Republic.

Within a month, the Cabinet of Ministers is in charge of preparing and presenting the proposals to the President to bring normative-legal acts into conformity with this order. The Cabinet of Ministers must, within a month, approve the regulations of sale of the mineral fertilizers and highly productive seeds of wheat, imported due to Public funds, on preferential terms and also transfer of livestock to the agricultural producers via the leasing (with the payment of 50% of cost).

The Cabinet of Ministers must be presented proposals on allocation of land plots to Agroleasing for creating logistic markets for the fertilizers and specialized barns.

Official rate on 21 August is 0.8137 AZN/USD

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