BAKU, Azerbaijan, March 18. Minister of Agriculture of Kazakhstan Yerbol Karashukeyev shared plans to redirect funds allocated for the formation of stabilization funds, Trend reports citing the ministry.
"On the instructions of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev, the elaboration of issue of agricultural products purchase by the regions in state stabilization funds at forward prices has begun in order to prevent shortages and an uncontrolled rise in food prices. It is planned to redirect part of the funds allocated for the formation of stabilization funds from autumn purchases to spring advance payments for forward contracts," Karashukeyev said at a government meeting.
According to him, for this purpose, administrations (akimats) of the regions were instructed to intensify work on concluding forward contracts with local producers and processing enterprises.
"At the same time, we are working to promptly introduce the necessary changes and additions to the existing rules for the formation of stabilization funds. On all instructions of the head of state, the Ministry of Agriculture will take the necessary actions for their timely and high-quality implementation," the minister said.