Parliamentary Economic Committee Confirms Food Price Hikes, Urges Local Production Support

The parliamentary Economic, Industry, and Trade Committee has noted a significant rise in food prices recently. Jotyar Al-Sindi, a member of the committee and a lawmaker, stated in an official newspaper interview that the committee observed substantial price increases, particularly for foodstuffs. He attributed this to the repercussions of waterway closures, which have made it difficult for imported goods and commodities to arrive. Al-Sindi clarified that relevant government bodies have established alternative import routes, but the increased transportation costs have adversely affected material prices. Furthermore, the government's decision to impose customs tariffs late last year also contributed to the worsening situation. He emphasized the availability of solutions and measures to counter the rising prices, including the necessity to enhance production levels in private sector factories and plants to achieve self-sufficiency. This is alongside bolstering the domestic economy in line with the government program, which would reduce import costs. The lawmaker affirmed that the committee is actively working to activate legal legislation supporting the private sector. Among its efforts is the completion of the first reading and the push to finalize the second reading of the draft law for supporting national industry and the local economy. This law aims to boost the efficiency of factories and plants, as well as support initiatives for establishing industrial cities that ensure the provision of essential materials to citizens.