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PRESS STATEMENT BY THE HON. MINISTER OF INDUSTRY AND COMMERCE, DR. M.C. BIMHA ON STABILISATION OF PRICES AND SUPPLY OF ESSENTIAL COMMODITIES

Introduction and Background


Following the price hikes and supply bottlenecks of essential commodities which arose following the panic buying spree experienced during the weekend of 22-24 September, 2017,

Cabinet on 2nd of October 2017 resolved to set up a Special Cabinet Taskforce on Stabilization of Prices and Supply of Essential Commodities. The Taskforce’s mandate was to come up with measures to resolve the challenges in the short, medium and long-term.
2The Inter-Ministerial Taskforce comprises of the following 13 Ministries and 6 Departments:

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Agric shifting from physical to value chain collateral

The existence of a market constitutes 80 percent of the collateral. Production factors like availability of suitable land, water draught power, labour and others constitute 10 percent of the collateral. The other 10 percent goes to skills and relationships.

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