DUSHANBE, January 30, Asia-Plus — Tajikistan’s lower chamber (Majlisi Namoyandagon) of parliament has endorsed the government’s resolution on providing 100 million somonis for loaning cotton-growing farms. The finance minister noted that all banks having their branches in the provinces might participate in that project.
A regular sitting of the fourth session of the Majlisi Namoyandagon of the third convocation, presided over by its chairman, Saydullo Khairulloyev, was held on January 30.
Finance Minister Safarali Najmuddinov presenting the government’s resolution noted that the government plans to provide 100 million somonis this year for loaning cotton-growing farms at 12 percent annual interest. The farms are to repay after the cotton harvest.
“50 percent of farms are to repay the loans before December 2008 and the remaining 50 percent of farms are to repay the loans before April 2009,” the minister said, noting that all banks having their branches in the provinces might participate in this project.
According to him, loans will be provided though branches of Amonatbonk, TajPromBank, Orienbank, Sohibkorbonk and Agroinvestbonk.
MP Shodi Shabdolov suggested that those 100 million somonis should be provided not in form of loans but as government order. According to him, cotton returned by farmers could be used in textile industry.
However, the finance minister noted that the country’s cotton sector is now private. Moreover, international financial institutions will not support the government order system, the minister said.
Parliamentarians voted for the resolution unanimously.
The session also approved the bill on bodies of the national security of Tajikistan and addition to the 2008 budget.
The addition made to the 2008 budget provides for exempting import of spare parts for Tajik-Iranian joint venture TojIron (assembling small tractors) from VAT and customs duty.
