x Abu Dhabi, UAEMonday 24 July 2017

FNC plans to create six-month food reserve

The Federal National Council committee in charge of mineral resources is to debate the UAE’s food security plans amid worldwide concern over global food prices.

ABU DHABI // In the last session of its term on Tuesday, the FNC plans to call for the creation of a six-month reserve of food staples to protect the country against shortages.

The Federal National Council committee in charge of mineral resources will debate the UAE’s food security plans in the session, amid worldwide concern over global food prices. The UN on Thursday said that food prices had reached their highest levels since tracking began in 1990.

The FNC will also discuss unfair banking charges, which a senior member of the finance committee says is a drain on bank clients in the Emirates.

He said the majority of banks in the UAE charge for a wide range of services that include, for instance, entering a bank more than twice to carry out simple banking transactions with a teller. Such transactions include withdrawing or depositing money.

The FNC member called on the government to regulate banking services and curb the ability of banks to charge consumers for such services.

The session may also witness an announcement on the fate of the FNC, which is the country’s half-elected legislature. Neither plans for new elections nor an extension of the term of current members has been formally announced yet for the council.

The FNC’s term officially ends on Saturday.

KShaheen@thenational.ae