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  • Homepage > The Cabinet > Cabinet approves measures to mitigate impact of rise in prices
    Cabinet approves measures to mitigate impact of rise in prices


    The Cabinet held its regular meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.

     

    After discussions, the Cabinet approved a package of measures to support vulnerable groups and mitigate the impact of rising global prices on the local market. The measures include:

     

    • A one-time grant of 100,000 Iraqi dinars to be paid to

     

    • Pensioners (who receive a salary of less than one million dinars per month).
    • Public sector employees (who receive a salary of less than five hundred thousand dinars per month).
    • Those covered by the social security system.
    • Those with no income.

     

    • The immediate distribution of two food rations through the ration card system.

     

    • Begin preparations for the distribution of rations during the month of Ramadan.

     

    • Review the ration card budget.

     

    • Postpone the collection of taxes on traders who import foodstuffs.

     

    • Monitor the market and take legal measures against those who manipulate prices.

     

    • Suspend customs duties on basic commodities such as foodstuffs, construction materials and essential consumables for a period of two months.

     

    • Suspend the import ban on some goods currently in place to protect local products, including foodstuffs, consumables, and medicines.

     

    The Cabinet also approved other measures to address the crisis of rising global prices, and to strengthen Iraq’s food security. The measures include:

     

    • Agreeing to purchase the entire local wheat production for the current agricultural season.

     

    • Completing the payment of farmers’ dues for the previous agricultural season within 10 days and paying farmers’ dues for the current season by June 30, 2022.

     

    • The Ministry of Finance to provide sufficient liquidity through the Central Bank of Iraq to support the agricultural sector through loans to farmers at an interest rate of 5% for the purpose of importing sprinkler irrigation systems.

     

    • Set the limit of wheat imported by the Ministry of Trade at 3 million tons to secure the ration card items and achieve food security.

     

    The Cabinet also approved a draft law on emergency support for food security and development and referred it to the Council of Representatives.