The decision to ban the export of dairy products was taken earlier by the Council of Ministers to conserve water but was not implemented.
A large volume of water is consumed by dairy farms in the Kingdom, which is home to a number of leading dairy companies that export products to neighboring countries.
The house decided to enforce the ban, the primary aim of which is to control the use of water and ensure its maximum usage for the greater good of the nation.
“The council decided to formulate an action plan for the ban so that the Kingdom’s population would benefit from adequate water supplies for their daily consumption and for essential agricultural purposes,” said a member of the council.
The house also felt that discouraging cultivation of wheat, which is used in animal feed, would eventually help the Kingdom rationalize the use of water.
Members of the council pointed out that several government water- saving measures had not been implemented in the past. They include payment of compensation to affected farmers who stopped growing wheat, discouraging the production of animal fodder, and prohibiting the export of some agricultural and dairy products.
The council also called for a comprehensive encyclopedia on agriculture, which would enable Saudis to compare notes with other countries in the region in the relevant sector.
To regulate steep fluctuations of stocks in the Saudi bourse, it was decided to set up a “market maker.” Some countries do have a “circuit breaker” to control the sharp rise and fall of stocks in their respective countries. Such a scheme will put a stop for trading when there is an untoward movement in the stocks, said a member.
The members felt that such a market maker will help maintain liquidity, boost shareholder confidence, help maintain a balance and provide security in the stock exchange.
To encourage young Saudi engineers, it was decided to provide them with contracts for maintenance of roads and highways throughout the Kingdom, provided they own medium size enterprises. The members said that such a program would not only help Saudi youths find employment but would also give them financial support for their living.
