Bakry: Half Million Workers under Threat due to Ceramic Companies Crisis

Media personality Mostafa Bakry announced that Ceramic companies are currently going through a crisis due to a decline in demand and the decrease of exports, especially after the Libyan crisis broke out. The state was receiving huge amounts of exports from ceramic industry.  As a result, half a million workers are under threat.

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Bakry made those remarks live on air in his show “Truths and Secrets” on Sada El- Balad Channel.

Bakry added, “shares of some ceramic producing companies which are included in the stock market have declined”.

“The building materials export committee issued an initiative in order to deal with the ceramic manufacturing crisis,” he further claimed. “The most notable part of the initiative was the scheduling of gas arrears for a period not less than 8 years, with an interest rate of 7%”.

He said that the initiative obliges ceramic manufacturers to pay the monthly consumption of gas within 60 days from the date of issuing the consumption bill, as well as to modify the description of the ceramic industry as a consumption of gas.

He asserted that the ceramic industry is experiencing severe crises, after raising the price of gas meter from $ 3 to $ 7, in light of the commitment of manufacturers to maintain employment, which is 500 thousand workers in 33 factories.

The media expert said that the officials are watching the ceramic industry collapsing. It is worthy to note that Egypt was ranked third in the world in the production and exports of ceramics. But the current crisis raises the question “When will the government take notice of this industry?”