Assistant Minister of Supply and Internal Trade in Egypt Ibrahim Ashmawy announced the compulsory pricing of about 15 strategic and basic commodities.
Ashmawy added that many countries
suffer from increased prices of various commodities, as well as low levels of
global economic growth and large inflationary waves around the world.
Ashmawy said that it was necessary for the government to intervene, in forming a safe reserve of strategic commodities, including wheat, oil, corn, and rice, in addition to safe reserves of basic commodities.
These being sugar and cheese, and approximately 31 commodities provided on ration cards.
Ashmawy pointed out that there will be a joint committee from the Federation of Chambers of Commerce, the Federation of Industries and the Consumer Protection Authority, to determine the cost of commodities on the market.
Source: Egypt Independent
