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State Material Reserve Fund receives 75 mln som of net profit in 2013 – Vice PM Sarpashev

February 10, 2014

Annually, the Fund of State Material Reserves distributed wheat among intermediaries for 23 som ($0.45) per kilogram, while the intermediaries sold it for 33 som ($0.64), Vice Prime Minister of Kyrgyzstan Taiyrbek Sarpashev said on February 10 at the board meeting of the Ministry of Energy and Industry. Last year, the fund managed to receive 75 million som ($1.47 mln) of net profit, and today sells flour directly to soldiers and hospitals. As a result, the Government had the possibility to allocate these money on mineral fertilizers. "We can cover new projects only using the accumulated net profit," Sarpashev noticed. The Vice Prime Minster instructed the Ministry of Energy and Industry to study the structure of public procurement. Besides, 2013 was difficult for the power industry since Kyrgyzstan exported 1 billion 800 million kWh in 2012 and had small volume of water in 2013 as a result. This year is expected to be difficult as well, Taiyrbek Sarpashev added.

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Source: AKIpress News Agency (Kyrgyz Republic)

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