In a bold move aimed at securing economic stability and safeguarding consumer interests, the Egyptian government officially designates seven key commodities as strategic goods. The list includes sugar, rice, mixed oil, broad beans, milk, pasta, and white cheese, all deemed essential for citizens’ well-being.
Prime Minister Mostafa Madbouly underscores the pivotal role these items play in the lives of Egyptians, emphasizing that their newfound strategic status is a decisive stand against monopolistic practices and covert dealings.
The declaration of these goods as strategic triggers the rigorous enforcement of the Consumer Protection Law, with Madbouly warning of severe penalties for any violations. The government introduces a six-month collaborative initiative involving the private sector, producers, and manufacturers to develop transparent price control mechanisms. Madbouly asserts that this approach ensures a delicate balance, stating, “A free market does not mean unchecked price rises.”
Affirming the government’s commitment to maintaining price discipline without direct interference, the Supply Minister issues regulations that provide clear pricing guidelines for retail outlets, coupled with regular on-ground monitoring. A specialized technical committee, led by the Information Center and comprising representatives from relevant ministries, is established to scrutinize factory data and production volumes. This proactive measure aims to prevent potential shortages, with weekly reports detailing market availability and stock levels for essential goods.
In a significant development, Prime Minister Madbouly secures an agreement with factory owners for monthly price reviews. This collaborative dialogue ensures that any unforeseen factors necessitating price adjustments are addressed transparently, with changes communicated openly to the public.
Madbouly calls upon citizens to actively engage in the initiative, urging them to report any price discrepancies through dedicated committees in each governorate. This grassroots involvement is envisioned to ensure comprehensive enforcement and contribute to the success of the government’s measures in stabilizing essential goods prices.
