Extension of the zero VAT rate on grain and flour will have a positive impact on the industry

The Ministry of Agriculture, the Antimonopoly Regulation Service and representatives of the flour milling industry have today signed an agreement which provides for measures to stabilise flour prices.

The agreement also takes into account a recent Cabinet of Ministers resolution on temporary incentives for flour milling companies. These measures are designed to curb prices for socially important goods, including flour and bakery products.

Economy Minister Bakyt Sydykov emphasised that the availability of flour and bread for the population is one of the key priorities of the state policy.

‘We endeavour to ensure stability in the market and support domestic producers,’ he said.

The president of the Association of Flour Milling Enterprises also expressed confidence that the extension of the zero VAT rate on grain and flour will have a positive impact on the industry.

‘This step will support local producers, reduce dependence on imports and strengthen the domestic market,’ he said.

The measures taken are expected to favour the development of domestic production, ensure price stability and strengthen the country's economy as a whole.