The Council of Ministers Monday endorsed a package of long and short-term arrangements to secure supply of consumer commodities besides controlling their prices in the local market. Ministries of finance, agriculture and commerce were also authorized to prepare study for establishing a Saudi holding company of public and private sectors for operation and investment in agriculture abroad and submit a study in this regard within three months. The Cabinet ordered expanding of Saudi investment in agriculture and fishery fields abroad. It also stressed the importance of the implementation of the mechanisms issued by the Council of Ministers this January to lighten the burden on the citizens resulting from the increase in the prices of food products. Chairing the weekly Cabinet session, King Abdullah called upon the ministries of agriculture and commerce and industry to prepare an integrated study determining the future food supply for the Kingdom. Iyad Madani, Minister of Culture and Information, said that in line with the short-term arrangement, the Ministries of Islamic Affairs, Endowment, Call and Guidance, Education, Culture and Information and Commerce and Industry will work together to launch an awareness campaign on the rationalization of consumption among citizens and residents. The Cabinet assigned the Ministry of Commerce and Industry to coordinate with the relevant authorities to allocate lands for the construction of warehouses by the private sector for storing commodities. Referring to the long-term arrangement, Madani said the Council asked the Ministries of Agriculture, and Commerce and Industry to promptly submit the results of the comprehensive survey on the countries having investment potentials and opportunities in the agricultural, animal and fishery sectors and prepare a comprehensive report to submit it to the Council of Ministers within two months. The Cabinet also assigned the Foreign Ministry to work out a framework for agreement for investments in the agricultural, animal and fishery resources.
