Uzbekistan’s government intends to subsidize poultry farms and reduce some taxes for them in an attempt to stabilise rising prices in the Central Asian populous nation.
The move follows President Shavkat Mirziyoyev’s resolution and his order to almost double production of chicken meat to 450,000 tonnes by the end of 2021 from 247,000 tonnes in 2020.
According to the document, poultry farms can receive subsidies from the state budget, 50 Uzbek soums for each sold egg and 1,000 soums for each kilogram of poultry meat sold starting this month.
Farmers must be VAT payers to be eligible for this subsidy. They will also be subject to a reduced rate of a number of taxes, including on profit and property for the next three years.
Uzbekistan’s government will also hire foreign experts to develop the poultry farming, researching and breeding of highly productive poultry, according to the document.
Uzbek Fund for Reconstruction and Development will allocate $85 million to local Microcreditbank to finance poultry projects.