Kuwait- MoUs inked on supplying meat to prevent price hikes 

(MENAFN - Arab Times) The Livestock Transportation and Trading Company (LTTC) and Hawally Butchery Company have signed memorandums of understanding (MoUs) with the Ministry of Commerce and Industry for the supply and distribution of meat products in the local market in exchange for subsidy, reports Al-Seyassah daily.

Speaking to the reporters after the signing of the MoUs, Minister of Commerce and Industry Anas Al-Saleh explained the two companies should fully abide by the agreement to supply frozen and fresh meat to prevent hike in prices and guarantee availability in the market.

Meanwhile, Ministry Undersecretary Abdul-Aziz Al-Khaldi disclosed the memoranda include stipulations for LTTC to set up 20 butcheries at various locations across the country to sell fresh and frozen meat at low prices. He said the company will sell one kilogram of meat with bone for KD1.250 and the boneless meat for KD1.500. He added that supervisors will be monitoring the sale and distribution of meat by the Hawally Butchery Company. He added the government will grant a subsidy of KD16 per sheep.

Al-Khaldi said many companies have applied for government subsidy but the minister insisted that the opportunity should be given only to those engaged in livestock trading or sale of food items. He added another major condition for the subsidy is the signing of a memorandum of understanding with the ministry.

He enumerated other conditions, such as full compliance with the specified prices, presentation of list of butcheries belonging to the interested companies, each butchery should be working minimum of eight hours per day and the butcheries should be open everyday, including weekends and public holidays.