President Jagdeo meets with NAMILCO officials

Georgetown, GINA, April 17, 2008

President Bharrat Jagdeo and Minister of Tourism, Industry and Commerce Manniram Prashad today met with Mr. Bert Sukhai, Chief Executive Officer of the National Milling Company (NAMILCO) and other top officials of the flour company at the Office of the President.
In light of the recent price increases for flour around the world, President Jagdeo felt it was necessary to meet with NAMILCO’s officials to discuss the increase in price and what Government can do to cushion the increases.
Recently government opened up the market for the importation of flour in order to push the price of the commodity down. During the budget presentation in February it was announced that flour was zero-rated with effect from March 1, and despite this measure the price remained the same.
President Jagdeo is exploring a number of options that would assist Guyanese in order that they do not feel the full brunt of the price increase for flour.
At today's meeting President Jagdeo enquired about the present supply of flour on the domestic market and all assurances were given by NAMLICO that there is currently no shortage of the commodity and that the company has the capacity to meet the needs of the local market.
NAMILCO has been asked to submit to the Office of the President details related to its operations and acquisition cost for wheat.
Another meeting  is scheduled  to be held with the company  next week.
Meanwhile President Jagdeo will be meeting shortly with bakers and wholesalers of bread.

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