Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

All Discounts, Promotions on Mobile Phones, Electronics "Suspended"- Chambers of Commerce


Tue 23 Nov 2021 | 06:53 PM
Taarek Refaat

Mohamed Talaat, Head of Telecommunications Division of the Federation of Egyptian Chambers of Commerce announced the suspension of all discounts and promotions offered during the current period on mobile devices and electronics, as of November 22.

Talaat attributed the suspension of offers due to the imposition of customs duties on imported products at a rate of 10%.

The Official Gazette had published presidential decree amending some categories of customs tariffs.

Talaat stressed that the local market is currently witnessing a state of confusion, because of the current decision of the Customs Authority, explaining that all importers are currently re-pricing their products in preparation for pumping more products into the market.

He stated that the discounts offered on electronics this month ranged from 5-10%, but with the imposition of new customs duties, it was difficult to continue the promotional offers on electronics.

He called on the ministry of Finance to reconsider the customs duties, especially in light of the decline in sales during the current period, and the exposure of many traders to financial crises that affect their continuity in business.