Egyptian Gov't Following up Closely on Price Movements in Markets- PM

Prime Minister Mostafa Madbouly stressed that the government is following up the situation on the ground and monitoring price movements in the markets on a regular basis, according to a statement.

During a cabinet meeting with representatives of the Chambers of Commerce, the Prime Minister referred to the repercussions of the Russian-Ukrainian crisis, which resulted in severe turmoil in markets and supply chains, stressing that the government is monitoring price movements in the markets on a regular basis.

He directed the immediate follow-up of the markets, and full coordination between government officials and the private sector, to provide various commodities at reasonable prices, amidst global inflation and and the crises in Ukraine..

On his part, the Minister of Supply Ali el-Moselhi indicated that there is full cooperation with the Federation of Chambers of Commerce, specifically the Chamber of Food Industries, regarding the provision of various commodities to consumers during the month of Ramadan.

The Minister of Trade and Industry  Nevine Gamea confirmed that a detailed statement will be received from the Chambers of Commerce on a daily basis that monitors the availability of food commodities in the markets as well as prices, in a way that achieves the government a clear vision towards the situation to take the appropriate measure.

The head of the Chamber of Food Industries confirmed that there was no shortage of any of the goods in all commercial outlets during the pandemic, pointing in this regard to the great role of the Crisis Management Committee.

He explained a number of challenges which is facing food commodities in the current time, the most important of which is the increase in the prices of imported raw materials, as well as the rise in shipping costs.

The Secretary-General of the Federation of Chambers of Commerces said that there is full cooperation with the government with the aim of increasing supply in different markets, assuring that all good will be available during Ramadan. "There will be no shortage of goods of any kinds during the holy month, "Ahlan Ramadan" initiative will witness special discounts and offers."

The head of the Consumer Protection Agency (CPA) also explained that the agency has a mechanism to receive complaints from citizens, which during this period received a number of complaints about high prices, and it also has mechanisms to preserve consumer rights to obtain goods at fair prices.