Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Gov. Discuss Initiative to Reduce Commodity Prices

Mon 25 Mar 2024 | 07:28 PM
Prime Minister Dr. Mostafa Madbouly
Prime Minister Dr. Mostafa Madbouly
Ahmed Emam

Egypt's Prime Minister Mostafa Madbouly held a meeting with major manufacturers, producers, and suppliers of food commodities and representatives of major commercial chains at the government headquarters in the New Administrative Capital to discuss an initiative to reduce commodity prices.

The meeting was attended by Ministers such as Dr. Ali Al-Moselhi, the Minister of Supply and Internal Trade, and Dr. Hala Al-Saeed, the Minister of Planning and Economic Development, along with other officials.

During the meeting, the Prime Minister emphasized the government's commitment to support the private sector and commercial chains, particularly in light of the unprecedented crisis that Egypt has been facing. He acknowledged the challenge of providing production requirements and raw materials, unavailability of foreign currency, and the fluctuation of the dollar price. However, he stated that the recent measures taken by the state have resolved these issues.

Madbouly highlighted an initiative presented by a number of manufacturers and merchants to reduce prices by 20% before the start of Ramadan. He acknowledged that citizens are still complaining about the continued rise in prices of some goods despite the decline in the dollar exchange rate. 

He urged the government and private sector to collaborate and deliver tangible results that would satisfy citizens during this period.