Azerbaijani President signs decree establishing the State Agency …

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(MENAFN- Trend press agency)

BAKU, Azerbaijan, October 7

Tendency:

Azerbaijani President Ilham Aliyev signed a decree on October 7 establishing the State Reserves Agency, Trend reports.

In accordance with the decree, on the basis of the State Agency for Material Reserves of the Ministry of Emergency Situations, a public legal entity “State Reserve Agency” is created.

The state grain fund is transferred under the management of the Agency.

The Agency is a legal person governed by public law, participating in the development and implementation of State policy in the field of the constitution of State reserves and mobilization, exercising the regulation and control in this area, as well as taking measures to ensure the sustainability of the supply of goods of strategic importance and to suppress the short-term price spikes of these goods for the domestic market.

The costs of organizing and supporting the activities of the Agency are financed from the state budget and other sources not prohibited by law.

To ensure the general direction and the control of the activities of the Agency, it is created its board of directors composed of a president and two assistants.

Will be updated

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