Subsidies to be provided to cotton-growing farmers and clusters

Subsidies to be allocated to cotton-growing farmers and clusters

At a time when the demand for cotton in the foreign market is declining and logistics costs in exports are increasing, measures to support farmers, clusters, and manufacturers of finished products have been announced.

Both the farmer who sells cotton on the exchange and the cluster that purchases it will receive a subsidy of 500,000 soums per ton. Clusters that grow cotton on their own land will receive a subsidy of 1.5 million soums per hectare.

Officials were instructed to submit calculations regarding the compensation of interest rates on foreign currency loans of finished product exporters exceeding 5 percent, and on national currency loans exceeding 14 percent, for a period of three years.

In addition, proposals will be prepared on the issue of refunding 3 percent of the value of products sold through marketplaces.

New incentive measures have also been established for industrial enterprises that create a large number of jobs.

For enterprises with at least 1,000 employees, 50 percent of the costs incurred for training, professional development of employees, as well as transport costs for commuting to and from work will be covered.

The tuition fees of children of employees who have worked in such enterprises for at least five years will be covered.

Special grants will also be allocated for enterprises whose number of jobs is approaching 1,000. In this direction, $20 million will be allocated to Andijan alone.

Officials were instructed to submit a draft resolution within a month on supporting enterprises that create a large number of jobs.