Morocco saves $20 million by suppressing subsidy on industrial sugar

The Moroccan government said the suppression of a subsidy on industrial sugar will help Morocco save $20 million.

The saved amount will be used in carrying out social projects for low-income categories concerned by the subsidy, Moroccan General Affairs Minister Ahmed Lahlimi said Tuesday at the weekly question time at the chamber of advisors (upper house of the parliament).

The decision may prompt sugar firms to increase industrial sugar production and enhance investments in the field, he added.

The minister said the government pays 2 dh in subsidy on each kg of sugar to help low-income consumers. However, the subsidy benefits the poor and the rich alike.

For his part, Commerce, Industry and Handicraft Minister Alami Tazi stated that Morocco does not suffer from any sugar shortage.