Lower House Finance Committee discusses Industry Ministry budget

AMMAN — The Lower House's Finance Committee on Thursday discussed the 2024 budget of the Ministry of Industry, Trade and Supply and its affiliated institutions. 

During the meeting, attended by Minister of Industry, Trade and Supply Yousef Shamali, MP Nimer Sleihat, head of the committee, said that the ministry's budget amounted to JD59,9 million, marking an increase of JD417,000 compared with the re-estimate of 2023, the Jordan News Agency, Petra, reported.

Shamali said that the current expenditure stands at some JD10,8 million, up by JD495,000 compared with 2023, and the capital expenditure at some JD49 million, down by JD177,000.  He added that the increase in current expenditures was the result of the natural increase in salaries and allowances, stressing that some JD226 million was allocated in the current year's general budget to subsidise wheat and barley as a result of the rise in global prices and to maintain bread prices in the Jordanian market.

The minister assured deputies that the strategic stocks of wheat can cover local consumption for 10 months and barley for eight months, noting that there are two projects this year to increase the storage capacity of grain warehouses in Ghabawi by 100,000 tonnes and 500,000 tonnes in Qataranah.

He also reiterated the government's commitment to maintain the prices of stored goods except if new items arrive in the Kingdom with higher prices, stressing that no entity will be allowed to raise prices individually or through fake offers, which would exploit citizens by monitoring markets through specialised teams that are spread across the Kingdom.