3.3 billion pounds for 10 million families until June 2023

After the global economic crisis, low levels of global economic growth and large inflationary waves due to supply chain disruptions, many countries suffer from price increases.

Dr. Ibrahim Ashmawy, First Assistant Minister of Supply and Internal Trade, pointed out that the state must intervene, in forming a safe reserve of strategic commodities, including wheat, oil, corn and rice, in addition to basic commodities such as sugar, oil, rice and flour, and they are provided on the ration card, approximately 29 to 31 commodities.

neglected commercial outlets

For its part, the Egyptian government announced a deadline for commercial outlets nationwide to set prices on commodities, waving "decisive measures" against violators that amount to closing the outlet and confiscating the commodity.

Closing the outlet and confiscating the goods

On a related note, Prime Minister Dr. Mostafa Madbouly affirmed that there is a two-week period for all commercial outlets to set prices on commodities, calling for this order to be circulated to all commodities and products, including construction and building materials, electrical appliances, auto parts and other commodities.

The government emphasized taking all decisive measures against those who did not set prices and taking clear steps to confront the price hike, stressing the importance of the Prime Minister issuing clear assignments to all oversight bodies in agreement on a specific deadline that will be announced, after which periodic traffic will take place, and immediate dealings with any outlet such as dealers Retail and commercial stores - He is not obligated to announce the prices of commodities, or exaggerates their prices, as well as those who hoard commodities, or hide them from citizens, by closing the outlet, confiscating the commodities he offers, and reselling them for the benefit of citizens.

Equilibrium in commodity prices

The deputy head of the General Federation of Chambers of Commerce, Mohamed Al-Masry, said that obliging the government to write the prices of basic commodities aims to achieve a balance in the prices of commodities available to consumers. 

3.3 billion pounds for 10 million families

According to an official statement by the Ministry of Finance, the general budget bears 3.3 billion pounds ($81.6 million) for the cost of disbursing monthly amounts ranging between 100 and 300 pounds ($4.04-12.13) for 10.5 million families with the ration card until the end of June 2023.

The government is trying to balance prices in the market to face the crisis at the present time, while allowing traders to achieve a fair profit margin. However, the challenges of providing currency and its high price in the parallel market, the high shipping cost and the continuation of the supply chain crisis since the Corona pandemic must be taken into account.