DILI, 06 october 2023 (TATOLI) – Minister of Trade and Industry, Filipus Nino Pereira said that the government has not yet awarded the cash subsidy to the rice importing companies.
On september 27, the Council of Ministers approved the Government’s Decree-Law on the temporary intervention measure to stabilize the price of rice on the market by awarding a cash subsidy to importing companies.
“The price of imported rice, for sale in the warehouses of importing companies and for resale to consumers in the shops selling the most widely consumed rice, is stabilized at 50 cents per kg,” said in Government’s Press Release.
The implementation of this measure aims to help meet the population’s food needs at a more affordable price, compensate importing companies for import costs, and build up a minimum stock of 30,000 tons of rice for emergencies.
This measure will be in force for 180 days from the day following the publication of the decree-law approving it.
Minister Pereira said that the approval of the decree law did not specifically mention a particular amount of cash to be awarded to each rice-importing company.
Earlier, Pereira said that the estimated amount of the subsidy could be up to US$4 million, adding that the exact amount of the subsidy will be decided collectively by the Coordinating Ministry for Economic Affairs, the Ministry of Finance, and the Ministry of Trade and Industry.
He added that the government would also negotiate the amount of the subsidy with the rice-importing companies: “After the negotiation, we will present the proposed amount of the subsidy to the Council of Ministers for approval.”
“Before awarding the subsidy, the government will carry out an identification process to identify and verify the companies that are likely to be eligible for the subsidy. The payment of the subsidy will be made by the Ministry of Finance,” Pereira concluded.
Journalist: José Belarmino De Sá
Editor: Filomino Martins