The Prime Minister chairs the meeting of the Market Control Committee and confirms that any violations will be dealt with decisively
Prime Minister, Dr. Mostafa Madbouly, confirmed that there are assignments for all relevant regulatory agencies to follow up on all markets and stores, and to deal decisively with any violations, in accordance with the law.
This came during the presidency of Dr. Mostafa Madbouly, today, Thursday, A meeting of the Committee for Controlling Markets and Commodity Prices, in the presence of Dr. Ali Al-Moselhi, Minister of Supply and Internal Trade, Engineer Ahmed Samir, Minister of Trade and Industry, Hossam Heiba, CEO of the General Authority for Investment and Free Zones, Ahmed Al-Wakil, President of the General Federation of Chambers of Commerce, and Dr. Mahmoud. Mumtaz, Head of the Competition Protection and Monopolistic Practices Agency, Engineer Ibrahim Al-Sajini, Head of the Consumer Protection Agency, Assistant Head of the National Service Projects Agency, Counselor Hani Hanna, Assistant Minister of Justice for Legislation Affairs, Major General Muhammad Fathallah, Director of the General Administration of Supply Police at the Ministry of Interior, and Dr. Alaa Ezz, Secretary-General of the Federation of Chambers of Commerce, Ashraf El-Gazairly, President of the Food Industries Chamber, Dr. Heba Shaheen, Executive Director of the Business Climate Reform Initiative (Irada), Representative Tariq Hassanein, Member of the House of Representatives and Head of the Grain Industry Chamber, and Wael Ziadeh, Assistant Minister of Planning for Affairs. Economic and Investment, Abdullah Ghorab, Head of the General Division for Bakeries, and officials of the ministries and concerned authorities.
The Prime Minister began the meeting by noting that the government, with its various relevant agencies, is periodically following up through work and monitoring teams the decline in the prices of various commodities. In the markets, according to the mechanisms taken by the state, represented by the government and the Central Bank, to release all goods at the ports, and provide the required dollar component.
During the meeting, Osama Al-Gohary, Assistant to the Prime Minister, Head of the Information and Support Center, reviewed the decision-making process. The decision, which is in charge of the technical secretariat of the committee, presents the results of the field follow-up of the price reduction initiative, indicating in this regard that it has been shown that there have been clear price reductions at the level of commercial chains since the launch of the initiative, amounting to 23.8%, for 7 strategic commodities: (sugar, beans, And rice, cooking oil, pasta, white cheese, and packaged milk).
Al-Jawhari also reviewed Commodity prices and their development compared to price levels before the launch of the initiative and the percentage of decline after the launch of the initiative, as the general average decline for sugar was about 22.2%, 16.6% for rice, 23.8% for edible oil, 13.7% for packaged pasta, and 13. 8% for white cheese, and 11.3% for packaged milk.
With regard to the media coverage of the “price reduction” initiative, Osama Al-Gohary explained that there were about 42 media articles that dealt with the commodity price file during the period from 13 to April 17, between visual and print media, stressing that the prevailing trend in opinions is the positive trend for the state’s role in stabilizing prices during the recent period. In this context, Al-Jawhari explained: The most prominent media praises, in general, included: the state achieving stability in the prices of most basic commodities thanks to its efforts in controlling the exchange market and providing currency to manufacturers, and praising the speed of customs release of goods and production requirements, as well as praising the state’s efforts in making and providing goods through its various outlets.
The head of the Information Center presented the most prominent recommendations and demands in this regard, noting that they boil down to the demand for the government to intervene with its mechanisms to control prices and return them to their correct path, and to take strict measures against everyone who bets on the lack of seriousness of the government’s decisions, and the need for them to be Any increase in drug prices is subject to state control.
Regarding following up on citizens’ participation on the Price Radar application, “Al-Jawhari” confirmed: There are 21.6 thousand users who downloaded the application during the period April 7-14, 2024, where the user specifies the location, store, and price of the item, attaches a picture of the price, and specifies the geographical location from which the purchase was made.
For his part, Ahmed Al-Wakeel confirmed Head
In turn, the Minister of Supply and Internal Trade said that there is a real decline in prices, explaining that the report that was presented with what was monitored in the various governorates confirms this, pointing out at the same time that a solution had been reached with the Chamber of Grain Industry and the General Division of Bakeries. There is an agreement on reducing the prices of free bread, and there will be a higher committee regarding it, and they will announce the prices, and there is a directive to follow up on these prices in all governorates.
For his part, Abdullah Ghorab explained that the recent period witnessed a decline in the price of the dollar. This also affected the decrease in wheat prices by about 30%, adding that a meeting was held with the Minister of Supply, where some of the visions and proposals that we, as a general division of bakeries, and the Chamber of Grain Industry had reached, were presented, reviewing the prices that had been agreed upon. On free bread, a discount of approximately 30 – 40%.
Tariq Hassanein thanked the political leadership, the government and the Central Bank for the economic measures taken recently, which in turn contributed to the stability of the exchange rate, which contributed to facilitating the actual calculation of the cost of various products, noting that the decrease in the price of grains It contributes to providing bread to citizens at reasonable prices, adding that the coming months will witness a further decline in prices because there is an abundance of the product globally.
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