Egypt declares 7 essential commodities as strategic
Updated 12/31/2023 7:01:00 AM
Arab Finance: Egypt’s Prime Minister Mostafa Madbouly has declared seven essential commodities, namely mixed oil, broad beans, rice, milk, sugar, pasta, and white cheese, as strategic products in the implementation of Consumer Protection Law No. 181 of 2018, as per a cabinet statement on December 30th.
This law prohibits the withholding of strategic commodities, whether by not offering them for sale or refraining from selling them.
The decision is applicable for six months or until further notice.
Madbouly also issued a decision to form a permanent technical secretariat for the committee, which was recently formed and headed by the Minister of Planning and Economic Development, and is concerned with studying mechanisms for controlling markets and commodity prices.
The permanent technical secretariat will be responsible for periodically monitoring the availability and production, consumption, and import quantities of the strategic goods.
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