State Agency for Reserves to be established in Azerbaijan

  07 October 2021    Read: 289
  State Agency for Reserves to be established in Azerbaijan

President of Azerbaijan Ilham Aliyev signed a decree on October 7 on the establishment of the State Agency for Reserves, 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 Agency of Reserves’ is created.

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

The Agency is a legal entity of public law, participating in the preparation and implementation of state policy in the field of creating state and mobilization reserves, exercising regulation and control in this area, as well as taking measures to ensure the sustainability of the supply of goods of strategic importance and suppress short-term price surges for 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 carry out general management and control over the activities of the Agency, its board is created, consisting of a chairman and two deputies.

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